American International Group Inc. (AIG) signage stands outside the company's headquarters in New York, U.S., on Thursday, Oct. 29, 2015. (Photo: Michael Nagle/Bloomberg)
Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to avoid paying bonuses they'd already earned to help cover for losses during the financial crisis amid a wave of criticism over executive pay.
The Paris court of appeals in March ordered the insurer to pay bonuses worth more than 2 million euros ($2.2 million) to Marc Alperovitch, a former managing director at AIG Management France SA. The AIG unit had no right to withhold the payments, the judges said in a previously unreported decision. That mirrors a ruling last year awarding 6.7 million euros to Amos Benaroch, who had also been a managing director at the unit.
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