I 
111TH CONGRESS 
1ST SESSION H. R. 1577 
To require the Secretary of the Treasury to pursue every legal means to 
stay or recoup certain incentive bonus payments and retention payments 
made by American International Group, Inc. to its executives and employ-
ees, and to require the Secretary’s approval of such payments by any 
financial institution who receives funds under title I of the Emergency 
Economic Stabilization Act of 2008. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 18, 2009 
Mr. PAULSEN (for himself, Mr. LANCE, Mr. LEE of New York, Mr. ROE of 
Tennessee, Mr. POSEY, Mr. GUTHRIE, Mr. SCHOCK, Mr. MCCLINTOCK, 
Mr. OLSON, Ms. JENKINS, Mr. LUETKEMEYER, Mr. ROONEY, Mr. 
THOMPSON of Pennsylvania, Mr. CAO, Mrs. LUMMIS, Mr. CHAFFETZ, Mr. 
AUSTRIA, Mr. HARPER, Mr. HUNTER, Mr. COFFMAN of Colorado, Mr. 
CASSIDY, Mr. FLEMING, and Mr. CONNOLLY of Virginia) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To require the Secretary of the Treasury to pursue every 
legal means to stay or recoup certain incentive bonus 
payments and retention payments made by American 
International Group, Inc. to its executives and employees, 
and to require the Secretary’s approval of such payments 
by any financial institution who receives funds under 
title I of the Emergency Economic Stabilization Act of 
2008. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. PLAN TO PURSUE CERTAIN PAYMENTS TO EX-
ECUTIVES. 
Notwithstanding any other provision of law, not later 
than 2 weeks after the date of enactment of this Act, the 
Secretary of the Treasury shall establish a plan to pursue 
every legal means to stay or recoup incentive bonus pay-
ments and retention payments made after September 16, 
2008, by American International Group, Inc. to its execu-
tives and employees. 
SEC. 2. CONDITION ON FURTHER ASSISTANCE. 
The Secretary of the Treasury shall not authorize any 
payment or other provision of Federal assistance to Amer-
ican International Group, Inc., unless the executives and 
employees then employed by American International 
Group, Inc. surrender to the Treasury any incentive bonus 
payments and retention payments received by such execu-
tives and employees after September 16, 2008. 
SEC. 3. PROHIBITION ON CERTAIN PAYMENTS WITHOUT 
TREASURY APPROVAL. 
Notwithstanding any other provision of law, the Sec-
retary of the Treasury shall require any financial institu-
tion that has received any assistance under title I of the 
Emergency Economic Stabilization Act of 2008, and that 
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has not repaid in full such assistance not later than two 
weeks after the date of enactment of this Act, to submit 
a incentive bonus and retention payment plan for approval 
by the Secretary before making any incentive bonus pay-
ment or retention payment to any executive or employee. 
SEC. 4. PROHIBITION ON CERTAIN CONTRACTS WITHOUT 
TREASURY APPROVAL. 
Notwithstanding any other provision of law, the Sec-
retary of the Treasury shall require any financial institu-
tion that has received any assistance under title I of the 
Emergency Economic Stabilization Act of 2008, and that 
has not repaid in full such assistance not later than two 
weeks after the date of enactment of this Act, to submit 
for approval by the Secretary any contract which provides 
for the payment of incentive compensation or bonus or re-
tention payments to any executive or employee of such fi-
nancial institution before such institution enters into such 
contract. 
Æ 
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