The New York Stock Exchange's board would be willing to settle for ex-chairman Mr Richard Grasso foregoing $48 million of his controversial pay package, a report in the Wall Street Journalsaid today.
The story follows comments by the exchange's new chief executive, Mr John Thain, that the NYSE wanted a "very substantial return" of Mr Grasso's $188 million pay package that led to the former chairman's ouster last year.
Citing an unidentified person familiar with the matter, the Journalsaid the board would be happy to have Mr Grasso give back a portion of the total package so that it could claim a moral victory.
But Mr Grasso was hoping for an additional $9.7 million in severance pay, which he would be owed if his pressured resignation was considered tantamount to firing, plus $48 million he had not yet been paid, the story said, citing people familiar with Mr Grasso's thinking.