This measure would prohibit a California corporation from entering into an agreement regarding the compensation of any member of its board of directors and the ten most highly compensated executive officers without the approval of a majority of the shareholders. The director(s) of a corporation who approve the agreement would be liable for any illegal compensation. The measure would further require publicly-traded California corporations and out-of-state corporations that conduct business in California to annually disclose information pertaining to the compensation of executive officers and all other employees working over 35 hours a week. This information would be filed with the Secretary of State, as well as posted on the corporation’s Web site.