AIG chief Benmosche inks pay deal

By doris | Published: November 25, 2009

Full Story atmoney.cnn.com

NEW YORK (CNNMoney.com) — After balking at government imposed pay restrictions, American International Group’s chief executive Robert Benmosche has officially agreed to a $10.5 million non-compete contract, the company announced Tuesday.

Benmosche, who was named CEO in August, had expressed frustration with the constraints placed on AIG by the government after the global insurance company was bailed out last year.

He reportedly threatened to quit his post in board meetings earlier this month, before issuing a statement saying he is “totally committed” to staying on as CEO.

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