This has been discussed ad nauseum AND Obama is well versed in the Constitution.
This part of the Constitution intended to prevent a legislator from greedily voting on a raise for a position to which s/he intends to be appointed.
What was the SoS salary increase during Senator Clinton's term as Senator? Since she does not significantly benefit from the emolument, this is clearly not a case of the kind of corruption the Constitution intended to prevent. Did Congress pass this increase? No, it was an Executive order for a COLA.
With such an insignificant emolument, there is no reasonable basis for barring a qualified candidate for office.
In addition, the Saxbe fix applies.
Oh, then there's this:
http://firedoglake.com/2008/11/30/yes-winguts-hillary-can-be-secretary-of-state/">Yes, Winguts, Hillary Can be Secretary of State
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