Kenneth Feinberg, the US government's "pay czar", appointed by the White House to review and approve compensation for top executives at the seven companies receiving "exceptional" support from the government, suggested outgoing CEO Kenneth Lewis not to take any compensation for 2009.

 Lewis accepted this offering as he felt that it wasn't in the best interests of the Bank to "get into a dispute with the pay master." So Lewis will not take a salary or bonus for 2009, that means he is to return the salary he's already earned this year.  
 Lewis’ agreement with Feinberg doesn't include CEO’s retirement package from Bank of America which was built up over the years he ran the bank.

 Feinberg was set to decide on the pay of the five most senior executives and the 20 most highly compensated employees at these firms by October, 30. 

 According to the Treasury Department spokesman, companies will need to convince Feinberg that they have struck the right balance to discourage excessive risk-taking and reward performance for their top executives. . "We are not going to provide a running commentary on that process, but it's clear that Mr. Feinberg has broad authority to make sure that compensation at those firms strikes an appropriate balance."