---
kind: "section"
citation: "15 U.S.C. § 9043"
title: "15"
title_heading: "Commerce and Trade"
number: "9043"
heading: "Limitation on certain employee compensation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/9043"
units:
  - "Chapter 116 — Coronavirus Economic Stabilization (cares Act)"
  - "Subchapter III — Economic Stabilization and Assistance to Severely Distressed Sectors of the United States Economy"
  - "Part A — Coronavirus Economic Stabilization"
---

# §9043. Limitation on certain employee compensation

- (a) **In general—** The [Secretary](/usc/15/9041.md?p=9) may only enter into an [agreement](/usc/15/7a.md?p=2) with an [eligible business](/usc/15/9041.md?p=4) to make a loan or loan guarantee under paragraph (1), (2) or (3) of [section 9042(b) of this title](/usc/15/9042.md?p=b) if such [agreement](/usc/15/7a.md?p=2) provides that, during the period beginning on the date on which the [agreement](/usc/15/7a.md?p=2) is executed and ending on the date that is 1 year after the date on which the loan or loan guarantee is no longer outstanding—
  - (1) no officer or [employee](/usc/15/9041.md?p=5) of the [eligible business](/usc/15/9041.md?p=4) whose total compensation exceeded $425,000 in calendar year 2019 (other than an [employee](/usc/15/9041.md?p=5) whose compensation is determined through an existing collective bargaining [agreement](/usc/15/7a.md?p=2) entered into prior to March 1, 2020)—
    - (A) will receive from the [eligible business](/usc/15/9041.md?p=4) total compensation which exceeds, during any 12 consecutive months of such period, the total compensation received by the officer or [employee](/usc/15/9041.md?p=5) from the [eligible business](/usc/15/9041.md?p=4) in calendar year 2019; or
    - (B) will receive from the [eligible business](/usc/15/9041.md?p=4) severance pay or other benefits upon termination of employment with the [eligible business](/usc/15/9041.md?p=4) which exceeds twice the maximum total compensation received by the officer or [employee](/usc/15/9041.md?p=5) from the [eligible business](/usc/15/9041.md?p=4) in calendar year 2019; and
  - (2) no officer or [employee](/usc/15/9041.md?p=5) of the [eligible business](/usc/15/9041.md?p=4) whose total compensation exceeded $3,000,000 in calendar year 2019 may receive during any 12 consecutive months of such period total compensation in excess of the sum of—
    - (A) $3,000,000; and
    - (B) 50 percent of the excess over $3,000,000 of the total compensation received by the officer or [employee](/usc/15/9041.md?p=5) from the [eligible business](/usc/15/9041.md?p=4) in calendar year 2019.
- (b) **Total compensation defined—** In this section, the term “total compensation” includes salary, bonuses, awards of stock, and other financial benefits provided by an [eligible business](/usc/15/9041.md?p=4) to an officer or [employee](/usc/15/9041.md?p=5) of the [eligible business](/usc/15/9041.md?p=4).

## Source credit

(Pub. L. 116–136, div. A, title IV, § 4004, Mar. 27, 2020, 134 Stat. 476.)