Of course, the government sees nothing wrong with companies paying millions in bonuses to executives, unless they are taking TARP money.

New York Times: Thain Says He’ll Repay Remodeling Costs. John A. Thain, the former chief executive of Merrill Lynch, defended on Monday his decisions on several fronts as he made his exit from Bank of America. But Mr. Thain sounded a bit contrite about that $35,000 commode.

Some recent Merrill Lynch contracts: the merger agreement with Bank of America, the private placement agreementwith the U.S. Department of the Treasury and the offer letter to John A. Thain.

MEMORANDUM OF AGREEMENT BETWEEN THE NATIONAL GEOGRAPHIC SOCIETY

ON THE ONE HAND

AND

YALE UNIVERSITY AND HIRAM BINGHAM, DIRECTOR OF THE PERUVIAN EXPEDITION

ON THE OTHER

1. The National Geographic Society will pay to Yale University for the Peruvian Expedition of 1912 the sum of ten thousand dollars ($10,000); to wit, five thousand dollars ($5,000) on the first of June, 1912, and one thousand dollars ($1,000) each on the first of August, September, October, November and December of the same year. The National Geographic Society further agrees to loan to this expedition such instruments as are necessary to the chief topographer of the expedition.

2. The official title of this expedition is to be

THE PERUVIAN EXPEDITION OF 1912

UNDER THE AUSPICIES OF YALE UNIVERSITY AND THE NATIONAL GEOGRAPHIC SOCIETY

The plans of the expedition are to be under the direction of Prof. Hiram Bingham of Yale University. The field of operations is to be southern Peru, particularly in the neighborhood of the 72d, 73d, and 74th meridians of longitude west of Greenwich.

3. In consideratin of the receipt of the above grant, Yale University agrees that the Director of the expedition shall be authorized and ordered to prepare for the National Geographic Society immediately after teh return of the expedition to the United States an article of six or seven thousand words describing in popular form the results of the expedition. If deemed advisable by the Editor of the National Geographic Magazine, Yale University agrees to authorize and order the Director of the expedition to furnish the Society a second article of six or seven thousand words describing such of the results as cannot be included in the first article. For the illustration of said article or articles, Yale University will give to the Editor of the National Geographic Magazine the choice of all photographs coming into its hands as a result of the expedition, and the right to use as many as he desires in the National Geographic Magazine to illustrate the above articles. The University will use every means in its power to prevent any article or photograph from being given to any other magazine by any member of the expedition until after the publication of the above article or articles in the National Geographic Magazine, provided, however, that three months after date of delivery of the articles and their acceptance by the Editor of the National Geographic Magazine the Director of the expedition and other members of the party may proceed to furnish articles to other magazines.

Read the full agreement [PDF].

Related Resources:

• Memorandum of Agreement Between the National Geographic Society and Yale University (Peruvian Expedition of 1914-15)
• Memorandum of a Working Agreement Between the Government of Peru and Hiram Bingham Representing the National Geographic Society and Yale University