AIG Attorney Makes Millions by Quitting Over Pay

Company to award Kelly mammoth severance package
By Rob Quinn,  Newser Staff
Posted Dec 29, 2009 2:45 AM CST
AIG Attorney Makes Millions by Quitting Over Pay
AIG CEO Edward Liddy, center, talks with Rep. Dennis Kucinich,and AIG Vice Chairman for Legal Affairs Anastasia Kelly during testimony earlier this year.   (Getty Images)

Quitting in a snit over government-imposed pay limits has ensured a bumper payday for AIG's top in-house lawyer, insiders say. The bailed out insurance company is preparing to pay Anastasia Kelly several million dollars in a severance package under company terms that allow some execs to quit and collect severance if their pay is cut significantly, sources tell the Wall Street Journal.

Kelly was one of five AIG execs who told the company earlier this month that they would quit if "pay czar" Kenneth Feinberg cut their pay significantly. The other four backed down. The company hired an outside law firm this month to investigate the actions of Kelly, who had offered other execs advice on how to collect severance pay.
(Read more pay cut stories.)

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