Working for a buck? Federal

[Rangeman]

I have a somewhat serious and somewhat not so serious question about the big 3 auto companies' CEOs agreeing to work for a buck in order to accept congressional funding (after being asked during the last session). How will that work and isn't it going against the FLSA?

[DAW]

Yes, it will be illegal. The employees (including CEOs) would have to get paid minimum wage if non-exempt or $455/week if exempt.

I am not sure who one would get to enforce it however. I suspect that they would get laughed out of any DOL office.

Besides, I also suspect that if one reads the fine print, these poor folks will get some type of non-wage compensation worth several million dollars annually in addition to their one dollar salary.