Alison Carnwath, chairwoman of the remuneration committee on the board, also defended the pay decisions but acknowledged that it was "clear that this view is not shared by all shareholders".
David Viniar, finance director of Goldman Sachs, defended the pay arrangements.
Richard Pym, the former Alliance & Leicester boss brought in as chairman last year, defended the pay deal.
In general, university officials defended the pay packages, citing the demands of the university president's job.
Bath defended the pay, saying: "Remuneration packages for vice-chancellors reflect what is required to recruit and retain individuals able to run complex, multi-million pound organisations".
A spokeswoman at UCL has defended the pay increases, saying that the university's rents are competitive for the London location.
Health Secretary Jeremy Hunt defended the pay offer that had been made to workers.
Henwood, 69, a former Orange County mall manager, had defended the pay levels as appropriate and said losses reflected money reinvested into the Fairplex.
Henwood and other fair representatives defended the pay levels, saying they reflected the executives' duties in running a collection of businesses in addition to the annual county fair.
"How much more does somebody need?" Indianapolis-based WellPoint defended the pay increases, saying they reflected the company's overall positive performance in 2009.
