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New rules cost GM's Henderson cash but may hike his pay [View All]

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Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-23-09 01:21 AM
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New rules cost GM's Henderson cash but may hike his pay
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Source: Detroit Free Press

Under new pay restrictions for companies that received federal assistance, General Motors Co. CEO Fritz Henderson will get less cash but may see an overall larger pay package.

Hendersons total compensation package will increase to about $5.5 million under terms of the pay plan, a person familiar with the documents said.

Hendersons cash salary, which was $1.26 million, is being decreased by 25% to $950,000. He will receive stock and restricted stock in GM valued at about $4.2 million.

Read more: http://freep.com/article/20091022/BUSINESS01/91022070/1...



:wtf: :shrug:
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