Family friendly…

April 7, 2004

Have you ever had to pick up and move because your spouse or significant other found a job someplace else? It happens all the time. And while some companies will provide minimal help to the non-employee, such as a courtesy interview or some local contacts, they rarely hand out a chunk of change because that person had to give up their job. Not so at Vishay Intertechnology (VSH) which handed out $88,272 last year to one of its vice presidents “to compensate him for his wife’s lost income for quitting her job and relocating.” The filing doesn’t provide details on what type of job was given up or how much it paid. But it does note that the vice president who got the deal is a cousin of the Chairman and CEO. The filing also notes several other family-friendly deals: a brother of the CEO’s wife with a distribution agreement worth $178,508 last year and two son-in-laws of the Chairman and his wife, a director, on the company payroll.

Leave a Reply

You must be logged in to post a comment.