AIG has agreed to pay in advance legal expenses incurred by its nonexecutive directors, the insurer...

AIG has agreed to pay in advance legal expenses incurred by its nonexecutive directors, the insurer told the US Securities and Exchange Commission this week.

The company confirmed it will forward payment for expenses, including attorneys' fees, incurred by the directors party for, "any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative."

The nonexecutive directors covered under the agreement are M Bernard Aidinoff, Pei-Yuan Chia, Marshall Cohen, William Cohen, Martin Feldstein, Ellen Futter, Stephen Hammerman, Carla Hills, Frank Hoenemeyer, Richard Holbrooke, George Miles Jr, Morris Offit and Frank Zarb.

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