AIG STATEMENT ON EMPLOYEE COMPENSATION, SIGTARP REPORT
(The following statement from AIG was received by e-mail. The sender verified the statement.)
“AIG has dramatically revamped its compensation practices to ensure that all employees are held directly accountable for clearly defined goals that reflect our commitment to properly balancing growth, profit, and risk. When AIG was subject to TARP restrictions, AIG worked closely with the Special Master to make sure we paid our employees market-based compensation, including appropriate amounts of incentive pay, under a rigorous review process that will continue into the future. This principle to pay market-based rates for well-defined performance is shared across the entire company and is continually reviewed by our Board of Directors. In addition, AIG remains highly focused to ensure we manage our risk profile in a strong and diligent manner and that the company’s goals are clearly aligned and balanced between profit, growth and risk. Right now, AIG is evaluating certain pay structures to ensure the appropriate allocation of incentive compensation as a portion of total pay to employees that reflects our absolute commitment to pay for performance in a post-TARP environment."
Jon M. Diat AIG Vice President, External Communications/Media Relations Corporate Communications Department 80 Pine Street, 30th Floor, New York, NY 10005 Office: 212-770-3505 Cell: 917-239-9241