LWOP for Exempts to save the company money

Hello - this is the first time I've posted anything. My question is regarding the two highest executives of my company. They are in the exempt status and would like to take some Unpaid time off to save the company money - sort of a sacrafice for the cause - since times are sort of hard. How do I handle this situation since they are exempt?

So far I've determined that I could create a leave of absence policy and have them take an unpaid non-medical leave of absence. Is there any way to do it without going this avenue?

Thank you.

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