Bank Of America's 'Doomsday Perk'

Emergency

Here's an interesting snippet that appeared in The Wall Street Journal's Deal Journal column.

'We read a lot of proxy statements at Deal Journal headquarters, but we’ve never seen this.

In Bank of America’s annual rundown of its executive compensation, we stumbled on an odd paycheck component for two BofA executives, Chief Accounting Officer Neil Cotty and Edward O’Keefe, the general counsel:

“The amounts for Mr. Cotty and Mr. O’Keefe for home security include $34,000 and $36,400, respectively, for the purchase and installation of an emergency home generator for business continuity purposes', Bank of America said in its SEC filing today (emphasis added by Deal Journal)'.

Call it the Doomsday perk.

http://blogs.wsj.com/deals/

 

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