NU Online News Service, Oct. 6, 2:50 p.m. EDT
American International Group President and Chief Executive Officer Robert Benmosche will receive an annual salary that could reach up to $10.5 million, according to a proposal submitted by AIG and approved by Kenneth Feinberg, the Special Master for TARP Executive Compensation.
Mr. Feinberg, who was appointed by President Barack Obama to be the so-called "pay czar," wrote in a letter to AIG's Compensation and Management Resources Committee that the total compensation package was determined to be appropriate "when compared to the total compensation packages of other applicable presidents and chief executive officers of similarly situated companies."
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