GM chief gets $9 million

New York: Edwards E Whitacre, chief of General Motors, will receive an annual compensation of $9 million .

GM received billions of dollars worth Federal funds.

Mr. Whitacre, also its chairman, would receive an annual cash base salary of $1.7 million, said the company. “He will receive an additional portion of his salary in the form of salary stock..., in the amount of USD 5,300,000, which will be delivered ratably over three years beginning 2012, and TARP (Troubled Asset Relief Programme) compliant restricted stock units valued at USD 2,000,000 under the company's 2009 long term incentive plan.” —PTI