it truly depends on the demographics of the business Yes, if key senior personnel ie executives were to use their position as a bargaining chip to demand an increase in their remuneration package then it may work
Should it he reporting entity though - them auditors would be all over it
Especially the way the public now eyes deeply what how execs are remunerated
In a smaller sized business ie SME - most that are in a top position usually have the ability to influence everyone - making performance bonuses that much easier