{"id":38556,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/cash-incentive-performance-award-aig.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"cash-incentive-performance-award-aig","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/cash-incentive-performance-award-aig.html","title":{"rendered":"Cash Incentive Performance Award &#8211; AIG"},"content":{"rendered":"<p align=\"center\">\n<p>December  <strong>[<\/strong>                    <strong>]<\/strong>, 2009<\/p>\n<\/p>\n<p><strong><u>Private  &amp; Confidential<\/u><\/strong><\/p>\n<\/p>\n<p><strong>[Name]<\/strong><\/p>\n<p><strong>[Address]<\/strong><\/p>\n<p><strong>[Address]<\/strong><\/p>\n<\/p>\n<p>Re:                                                             <u>AIG 2009 Cash Incentive Performance<br \/>\nAward<\/u><\/p>\n<\/p>\n<p>Dear <strong>[Name]<\/strong>:<\/p>\n<\/p>\n<p>I am pleased to advise you that, based on your achievement of certain<br \/>\nperformance metrics in 2009, AIG has granted you a cash incentive award in the<br \/>\namount of $<strong>[<\/strong>                    <strong>] <\/strong>in respect of the<br \/>\nfiscal year ending December  31, 2009, which will be paid on or before<br \/>\nDecember  31, 2009.<\/p>\n<\/p>\n<p>If, following the date of this letter, AIG determines that the grant of the<br \/>\naward or the payment of the award was based on materially inaccurate financial<br \/>\nstatements (which includes, but is not limited to, statements of earnings,<br \/>\nrevenues or gains) or any other materially inaccurate performance metric<br \/>\ncriteria, AIG shall be entitled to receive, and you shall be obligated to repay<br \/>\nto AIG immediately upon demand therefore, the amount of the payments in respect<br \/>\nof the award previously made.   This repayment to AIG shall be net of any taxes<br \/>\nwithheld from the original payment to you, except to the extent that a greater<br \/>\nrepayment is required by the TARP Standards for Compensation and Corporate<br \/>\nGovernance, 31 C.F.R. Part  30 (the &#8220;Rule&#8221;) or the determinations of the Special<br \/>\nMaster for TARP Executive Compensation pursuant to the Rule.   AIG will determine<br \/>\nwhether a financial statement or other performance metric criteria is materially<br \/>\ninaccurate in accordance with the standards set forth in  \u00a7  30.8 of the Rule, or<br \/>\nany similar or successor provision applicable to AIG and in effect from time to<br \/>\ntime.<\/p>\n<\/p>\n<p>Compensation described in this letter is subject to applicable regulations<br \/>\nissued by the U.S. Department of the Treasury and applicable requirements of<br \/>\nagreements between AIG and the U.S. government, as the same are in effect from<br \/>\ntime to time.   You may receive the compensation described in this letter only to<br \/>\nthe extent that it is consistent with those regulations and requirements.<\/p>\n<p align=\"center\">\n<hr>\n<p><\/p>\n<p align=\"center\">\n<p>AIG and the Board of Directors appreciate that 2009 was a challenging year<br \/>\nfor all AIG employees.   I personally wish to thank you for your hard work and<br \/>\ndedication during this time, and look forward to continuing to recognize and<br \/>\nreward the contributions you make to AIG.<\/p>\n<\/p>\n<p>Sincerely,<\/p>\n<\/p>\n<p>[Robert H. Benmosche]<\/p>\n<p align=\"center\">\n<p align=\"center\">2<\/p>\n<hr>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6672],"corporate_contracts_industries":[9446],"corporate_contracts_types":[9539,9546],"class_list":["post-38556","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-american-international-group-inc","corporate_contracts_industries-insurance__property","corporate_contracts_types-compensation","corporate_contracts_types-compensation__incentive"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38556"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38556"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38556"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}