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Pay Czar Recognizes Benmosche Leadership Doesn't Come For Free

While Bobby Benmosche's musings on everything from when to pick grapes for a dynamite bottle of Cabernet to how much Andrew Cuomo will regret the day the two of them get in the octagon together are typically priceless, the value of his services to AIG is far less abstract. The pay czar is expected to given the all-clear for BB's total compensation package in the near future. While McKinsey may not be getting any more cash from the original greenback black hole for their services, Benmosche is going to be getting $3 million- and that is just the appetizer.

AIG disclosed in an August regulatory filing that Benmosche, who replaced Edward Liddy as head of the company, will get $3 million in cash and $4 million in common stock. Benmosche, 65, also is eligible for as much as $3.5 million a year in long-term incentive awards and not eligible for severance if fired, the filing said.

AIG's Benmosche Pay Said to Be Formally Approved by Treasury [Bloomberg]