AIG Agrees To Freeze Millions In Pay To Former Execs

By Arthur D. Postal and Daniel Hays
NU Online News Service

New York Attorney General Andrew Cuomo announced yesterday that American International Group has agreed to freeze a $600 million employee compensation and bonus pool, as well as payments to former chief executive Martin Sullivan. Mr. Sullivan would have been paid approximately $19 million plus other benefits, according to a letter Mr. Cuomo sent to Edward Liddy, AIG’s current chairman and chief executive officer.

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