Merrill Lynch Executive asks for $10 million bonus

Chief executive Officer of Merrill Lynch & Co (NYSE:MER), John Thain has asked directors for a $10 million bonus for 2008 period, but according to sources the compensation committee of Merrill Lynch are likely to resist Thain’s request.

The Compensation Committee at Merrill Lynch said that they will be attending a scheduled meeting on Monday to listen to Mr Thain’s bonus request formally, along with other senior executives of the troubled securities firm.

No decision has been made and it is unknown at this point what Mr Thain official request was, although the Compensation Committee are more likely to deny the New York firm’s executives bonuses this year, according to the source.

Source: WSJ

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