NU Online News Service, June 24, 1:05 p.m. EDT
American International Group Inc. (AIG) has outlined a plan meant to retain and attract executives as it works to repay the government, which owns about 80 percent of the company.
AIG will pay top executives with what the company is calling "long-term performance units" (LTPU)--a mix of AIG hybrid securities, or debt, and common stock, according to a filing with the U.S. Securities and Exchange Commission.
"AIG is committed to compensation practices that allow the company to attract and retain capable and experienced professionals and motivate them to achieve strong business results in both the short- and long-term," Mark Herr, an AIG spokesman, said in an e-mail. "The LTPU grants allow us to achieve these goals."
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