United Artists Corporate Minutes (Jan-Dec 1939)

Record Details:

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-4 agreement be further amended so as to provide thet the first arbitretor will be Henry w Ginsberg, the Second, Joseph M. Schenck, end the third, Dr. A. H. "Giannini. ~ 5S. It wes then reportec to the meeting thet Mr. Joseph M. Sehenck, through his secretary, had advised the Corporetion thet he was net interested in the purchase of the life insurance policies held by the Corporation on his life. 6. It was then reported thet the Corporation hec resigned from the Hays Organization in Canede as of September 22, 1939. 7. The next matter brought up for discussion before the meeting was the question of economies. Th General Maneger read to the meeting the letter dated October 23, 1939, addressed to the Corvoration advising it “of the fact that he had voluntarily eccepted a 25% reduction in salary and setting forth the terms under which he had voluntarily accepted such reduction. The letter and its contents was aprroved and accepted unanimously by the meeting and directed to be filed with the Tressurer. 8. The General Manager also reported that all other executives of the Corporation in the domestic field earning $500. or more per week and all executives in the foreign field earning $250. or more per week had accepted an approximate 20% reduction in salary. 2