As in you would accept, without knowing ahead of time, a cut to your salary when the company's performance drops?

I'm not talking about performance based bonuses or commission based pay. I'm talking about a salary that was pre-negotiated at the time of your employment, but upon the company performing badly, your salary is dropped.

This is what the OP is saying - that high CxO pay is the problem, and that they should have been paid less (after the company's performance dropped).