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He suggested a new long-term incentive plan as an alternative.
But this year, the company said its long-term incentive plan would no longer be adjusted for the impact of share repurchases.
The company created long-term incentive plans so that the executives, depending on performance, could earn 110 percent of their salaries.
Ricci also received a £3.3m long-term incentive plan.
A.I.G.'s compensation committee is starting to examine how to design its long-term incentive plan.
Verizon's long-term incentive plan is one notable example.
More rewarding will be the gains he can expect to make on restricted stock that he was awarded under the company's long-term incentive plans.
And last year, Bristol-Myers started a new long-term incentive plan that based payouts partly on sales growth.
Shareholders also voted against the company's new incentive bonus plan and long-term incentive plan in 2012.
In one common type of long-term incentive plan, employees are given free shares that are held in a trust until specified conditions are met.
These sums were distributed over seven different categories: salary, bonus, "other," restricted stock, options, long-term incentive plan and "all other."
But bonuses fell as the company shifted money to a long-term incentive plan that was to be paid in stock and whose awards have not yet been determined.
Antonio Horta-Osorio is still eligible for a share grant for the last 12 months under a long-term incentive plan worth as much as £4.46m.
Dr. Catacosinos also recently received two payments of $742,500 in stock and $743,750 in cash under long-term incentive plans intended to reward performance over several years.
Kurt Schact, general counsel for the Wisconsin Investment Board, said bonuses and long-term incentive plans bore little relationship to Paramount's return to shareholders.
"The company will operate a long-term incentive plan for senior employees that will deliver financial rewards if the company achieves certain targets over a three year performance period.
By far the largest figure in the compensation tallies are the amounts earned by the executives under the long-term incentive plan operated by Starr International, a private company registered in Panama.
That figure includes the value of his accelerated stock options if they are exercised at a deal price of $62, as well as shares of stock tied to performance available through a long-term incentive plan.
Mr. Trotman was awarded $9.8 million more in restricted stock under a long-term incentive plan for his work in 1996, the company said in a proxy statement filed with the Securities and Exchange Commission.
Besides long-term incentive plans, these executives receive a supplemental executive retention plan, I.B.M. Personal Pension Plan, executive deferred compensation and I.B.M. Savings Plan.
Although 1988 was a very good year at the Ford Motor Company, cash bonuses shrunk for the top 100 executives: The company shifted money to a long-term incentive plan to be paid in stock five years hence.
The executive compensation plans at small and midsize companies also tend to be simpler and more transparent, without the long-term incentive plans and deferred income that big companies increasingly use to lure top talent, he said.
And when it appeared that Mr. Nardelli might not hit one of the few performance goals the board had set to cause payment of a long-term incentive plan, the board lowered the goalposts, according to the Corporate Library.
It cites a $7.5 million unauthorized corporate loan guarantee for a senior officer of the company, payment of more than $1.5 million in bonuses in the 1998 fiscal year to the executives and the alteration and back-dating of long-term incentive plan documents.
For instance, we know that this year his annual bonus entitles him to up to 6m shares in the bank, which at current market prices would be worth something just under £1.3m. On top of this, he is eligible for a further £4.57m through a long-term incentive plan.