That depends, if the board approves the compensation package and it does not run afoul of the letter of contract law, you are free to compensate yourself how you feel assuming that you are a for profit corporation. Generally contract law rules out over that situation though as generally contracts spell out you give me x and I provide you with y. Not delivering on the contract in a grossly negligent way could be fraud, but you would be surprised at the liberties one can take under the protection of limited liability, I have seen the worst of the worst operate within the confines of limited liability while just shying south of the fraud threshold. It is an art many sociopaths master.