AIG Inc. will limit pay for top executives

CHARLOTTE, N.C. --- American International Group Inc. said Tuesday it is limiting how much it pays its top executives, including granting a $1 salary for this year and the same for 2009 to Chief Executive Edward Liddy.


The decision is one of many broader moves made by the troubled New York-based insurer, which has been under pressure to restrict executive pay since accepting billions in government assistance to save it from collapse. AIG has received about $150 billion so far.

The company said there will be no 2008 annual bonuses and no salary increases through 2009 for AIG's top seven officers and no salary increases through 2009 for the 50 next-highest AIG executives. In addition to his $1 salary, Mr. Liddy will get an unspecified amount of stock.

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