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General Motors (NYSE:GM) has proposed compensating CEO Dan Akerson $11.1 million this year, as a part of an $82 million executive compensation plan spread out over 25 top officials in the company. Other names were omitted from the document obtained by Bloomberg, but it does show that Akerson is the highest-compensated individual in the company.
Last year, Akerson made $7.7 million in compensation, although the company had requested $9 million.
Many companies that participated in the Troubled Asset Relief Program (TARP) were subject to federal rulings for compensation. A handful of companies including Bank of America (NYSE:BAC), Chrysler Group, Citigroup (NYSE:C) and AIG (NYSE:AIG) have all since left the program, and are therefore are no longer under the ruling by the treasury. GM, however, still participates in TARP.
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