AIG To Freeze Payout To Ex-CEO Amid Cuomo Probe

Law360, New York (October 22, 2008, 12:00 AM EDT) -- American International Group Inc. has agreed to freeze millions of dollars in payments to its former top executive and not make any payments of deferred compensation or bonuses to members of its financial products unit, New York's attorney general said Wednesday.

Attorney General Andrew Cuomo said the company would freeze $19 million in payments and other benefits to former Chief Executive Officer Martin Sullivan and hold onto $600 million in deferred compensation and bonus pools in the unit largely responsible for the insurance giant's collapse....
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