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Sir Martin Sorrell, chief executive at WPP, is legendary for the zeal with which he enforces executive contracts.
The terms of Mr. Kelly's employment, as with most executive contracts, largely limits cause to serious infractions like dereliction of duty or conviction of a crime.
As her first subject, she chose executive contracts, the reports often ignored by investors and buried under hundreds of other documents.
The people who led Bank of America at the time — including the former chief executive Kenneth D. Lewis — will not pay a dime because the company is required to pick up their legal expenses as part of their executive contracts.
For executives, "it is not unusual to see that 'for cause' equals felony, which is, of course, absurd," said Nell Minow, a co-founder of the Corporate Library, a research group in Washington that studies executive contracts.
Cameron said today that bankers "needed to wake up and smell the coffee" as he urged ministers to tear up existing bank executive contracts at semi-nationalised banks to prevent them receiving any bonuses this year.
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This provision, known as golden handcuffs, is routinely included in executives' contracts to give them incentives to stay.
Clarkson Hine, a spokesman for Fortune Brands, said the language about felonies in Mr. Wesley's contract was also in previous chief executives' contracts at the company.
Blatter, 80, now faces a separate Fifa ethics investigation into suspected bribery linked to multimillion-dollar bonuses in top executives' contracts.
Other companies decided that it was not enough to design new executives contracts to pay handsomely even in a tepid market.
Even some of the consultants paid to design executives' contracts -- who have been some of the loudest defenders of the pay explosion -- have grown concerned.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com