Nice of them. Thain was actually reported to be demanding a $10 million bonus for 'saving' Merrill from melting down entirely. That's the same form that wrote off tens of billions of dollars. His PR adviser must have told him how bad his demands looked.
Thain Spars With Board Over Bonus at Merrill
Merrill Lynch Chairman and CEO John Thain has suggested to directors he receive a 2008 bonus of as much as $10 million, according to people familiar with the situation.