General Motors (GM) has said chief executive Ed Whitacre will get an annual salary of $1.7m (£1.1m), plus $7.3m in shares at a later date.
The pay package was approved by the US Treasury, which spent billions of dollars bailing out the carmaker last year and now owns a large stake in it.
GM also said Mr Whitacre’s predecessor, Fritz Henderson, is being paid $59,090 a month as an adviser.
Mr Whitacre took over as interim chief executive in December last year.
Last month, he was officially confirmed in the position on a permanent basis. He is also chairman of GM.
