Title 15 — Commerce and TradeRelease 119-73not60

§9076 Limitation on Certain Employee Compensation

Title 15 › Chapter 116— CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT) › Subchapter III— ECONOMIC STABILIZATION AND ASSISTANCE TO SEVERELY DISTRESSED SECTORS OF THE UNITED STATES ECONOMY › Part B— Air Carrier Worker Support › § 9076

Last updated Apr 3, 2026|Official source

Summary

The Secretary can only give money under this part to an air carrier or contractor if the carrier or contractor signs an agreement that limits pay for certain employees during March 24, 2020 through March 24, 2022. Any officer or employee who made more than $425,000 in 2019 (except those whose pay is fixed by a collective bargaining agreement made before March 27, 2020) may not get in any 12-month period more total pay than they got in 2019. Severance or other termination benefits may not be more than twice the highest total pay that person got in 2019. Anyone who made over $3,000,000 in 2019 may not get, in any 12-month period, more than $3,000,000 plus half of the amount they made above $3,000,000 in 2019. "Total compensation" means salary, bonuses, stock awards, and other financial benefits given by the carrier or contractor.

Full Legal Text

Title 15, §9076

Commerce and Trade — Source: USLM XML via OLRC

(a)The Secretary may only provide financial assistance under this part to an air carrier or contractor after such carrier or contractor enters into an agreement with the Secretary which provides that, during the 2-year period beginning March 24, 2020, and ending March 24, 2022, no officer or employee of the air carrier or contractor whose total compensation exceeded $425,000 in calendar year 2019 (other than an employee whose compensation is determined through an existing collective bargaining agreement entered into prior to March 27, 2020)—

(1)will receive from the air carrier or contractor total compensation which exceeds, during any 12 consecutive months of such 2-year period, the total compensation received by the officer or employee from the air carrier or contractor in calendar year 2019;

(2)will receive from the air carrier or contractor severance pay or other benefits upon termination of employment with the air carrier or contractor which exceeds twice the maximum total compensation received by the officer or employee from the air carrier or contractor in calendar year 2019; and

(3)no officer or employee of the eligible business 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 from the eligible business in calendar year 2019.

(b)In this section, the term “total compensation” includes salary, bonuses, awards of stock, and other financial benefits provided by an air carrier or contractor to an officer or employee of the air carrier or contractor.

Reference

Citations & Metadata

Citation

15 U.S.C. § 9076

Title 15 — Commerce and Trade

Last Updated

Apr 3, 2026

Release point: 119-73not60