As much as I would like to see that, it's very difficult to expect a individuals to do that. I'll give you a sports analogy - sometimes you see a multimillionaire superstar basketball player take a paycut to free up some $ to sign another player, which would give the team a better chance to win the championship. If the superstar takes the cut, I applaud him. But if he does not, do I fault him? No.
So as far as paycut, it would be nice for the management team to take one, but if they do not, I'm fine with that. But I agree about bonuses - no way, until they achieve something worth the bonus.