I have been reading about various CEOs taking a $1 salary; typically they also take some from of alternate compensation, e.g. stock options.
However, very rarely one will take a $1 salary with no alternative compensation — supposedly Steve Jobs did this.
My question is how is this legal under minimum wage law? On the Department of Labor's website it appears that a salaried employee must be paid at least $455 dollars week. How does this work?