The Homa Files

American International Group said it paid a $47 million severance package to former Chief Executive Martin J. Sullivan, who “resigned”.

Sullivan, left his position in mid-June after two quarters of record losses at AIG, will receive severance of $15 million, and a bonus of $4 million for the portion of the year he worked, according to a regulatory filing.

Sullivan also will hold on to outstanding equity and long-term cash awards valued at about $28 million, the filing said.

Reference:
http://clipmarks.com/clipmark/C85E7BC6-2172-46E7-B07E-5412446AB182/

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