Executive perquisites or "perks" constitute additional compensation for senior executives which are not available to other salaried employees. These extra benefits are normally structured to recognize the value of the executive to the company, extraordinary demands on his or her time and other unique conditions.
Some perks are structured to maximize executive work time including drivers to and from work, convenient parking, installation of home communications systems, financial planning, and even the use of company airplanes for personal travel. Others recognize the unique positions of executives, especially CEOs, by providing security both at home and when traveling. Typically, executive perks constitute a modest component of executive pay.