Kenny Boy's pay package for 2009 will consist of $0 in salary, $0 in bonus and a bill. Not only will KL see two bagels for his efforts this year, but the pay czar is making him pay back the $1 million plus he's already earned.
A Bank of America spokesman said Mr. Lewis voluntarily agreed to the deal, which was finalized Thursday.
"Mr. Feinberg suggested that Ken Lewis should take no compensation for 2009. Mr. Lewis agreed. Mr. Lewis added that he felt it was not in the best interest of Bank of America for him to get involved in a dispute with the paymaster," the spokesman said.