An organization can pay compensation in excess of $199,000 only if they:
- Obtain a waiver from the state.
- The compensation is equal to or less than the 75th percentile of compensation paid to comparable executives in similar organizations.
- The compensation was reviewed and approved by the Board of Directors.
Our NY Executive Order 38 review process includes:
- Assistance in identifying “covered executives” who may be subject to
EO 38. - Determination of special skills, abilities and unique qualifications that may affect how a covered executive’s compensation should be positioned in relation to the competitive market.
- Identification of peer organizations that are comparable to the client organization to ensure compensation decisions reflect the competitive market and comply with NYS regulatory requirements.
- Conducting an in-depth comparability study to determine if the executive compensation provided to a covered executive exceeds the statutory limit, and if so, whether it meets safe harbor provisions.
- Providing information to assist the organization in completing the application for waiver on the executive compensation limit, if needed.
Our NY Executive Order 38 review process includes:
- Assistance in identifying “covered executives” who may be subject to
EO 38. - Determination of special skills, abilities and unique qualifications that may affect how a covered executive’s compensation should be positioned in relation to the competitive market.
- Identification of peer organizations that are comparable to the client organization to ensure compensation decisions reflect the competitive market and comply with NYS regulatory requirements.
- Conducting an in-depth comparability study to determine if the executive compensation provided to a covered executive exceeds the statutory limit, and if so, whether it meets safe harbor provisions.
- Providing information to assist the organization in completing the application for waiver on the executive compensation limit, if needed.