In May 2005, CEO Bill Ford went off the payroll, saying he wouldn't take a check again until his company's automotive sector began returning a profit. Now the board of directors wants to resume Ford's salary, but the heir to the family name says no.

Last week the compensation committee for Ford Motor Co. filed its annual 2007 report, which included the statement that expecting Bill Ford to work unpaid was unreasonable. The CEO doesn't see it that way.

On Wednesday, February 27, a spokesman for Mr. Ford, Oscar Suris, said simply, "He wants to stay true to his pledge." The CEO did, however, come to terms about the pay situation.

After Ford's global automotive sector returns one full year of profits, excluding some specific items, Bill Ford will agree to take his salary retroactive into 2008. The company is not, however, setting aside funds specifically to cover that payment.

Although the company has not released the amount of compensation planned for the CEO, the information will be released in the future. Company estimates, however, suggest that Bill Ford has put off collecting anywhere from $25 to $33 million over a three-year period.

During that time, Bill Ford did accept a stock award in March 2006, but only because it was granted prior to his promise to suspend his pay. He donated the proceeds to a fund for scholarships for employee's children.