"[If] the employment agreement permits the employer to reduce the Executive's salary and other compensation, doing such may give the Executive good reason to terminate the agreement triggering a severance pay obligation.... [T]he terms of the reduced pay should be negotiated and an amendment to the employment agreement setting forth the terms should be drafted and executed. This amendment should also provide a mechanism for compensation to return to normal ... [T]he employer could take the opportunity to work with the Executive to amend the incentive compensation formula to a more realistic goal or simply substitute a simpler cash bonus instead."  MORE >>