All the same, why does he need a retention payment?
Richard Pennycook, the chief operating officer, will receive a £900,000 salary and a retention payment of £900,000.
Under the proposals, Sutherland will be paid a base salary of £1.5m this year, plus a £1.5m retention payment.
Creditors recently approved a $250,000 retention payment for him after severance payments were denied to hundreds of former employees, according to a recent bankruptcy court filing.
The company said Ms. Fiorina had declined to accept her retention payment of $8 million and Mr. Capellas had also declined his of $14.4 million.
Barking and Dagenham, in east London, still offers a £2,500 golden hello and an annual £2,500 retention payment, but has also added another carrot – an affordable home at 20% less than the market rent.
Shortly after the news of redundancies first broke, it emerged that NCG's chief executive, Dame Jackie Fisher, enjoyed a pay rise, including bonus and retention payment, of almost £73,000.
Sutherland himself is due to collect £3.6m this year – a mix of a £1.5m salary, a £1.5m retention payment and cash to buy him out of incentive schemes at his last employer, Kingfisher, where he ran B&Q.
Last week the Co-op Group delayed its results until 17 April, following the turmoil caused by the departure of its boss, Euan Sutherland, who branded the organisation ungovernable after his £6.6m two-year pay deal was leaked – including a £1.5m-a-year "retention payment".
For example, a District Nursing Officer in 2008 received $250 as monthly salary and $280 as retention payment.
The second group of bonuses covers some 2008 retention payments from contracts entered into before government involvement in A.I.G.
