NEW YORK (

TheStreet

) -- White House pay czar Kenneth Feinberg disclosed pay cuts for the top 25 executives at five companies that received extraordinary assistance under the federal bailout.

Cash salaries to the 25 highest-paid executives at

AIG

(AIG) - Get Report

,

Chrysler

,

Chrysler Financial

,

GM

and

GMAC

dropped an average of 33% from 2009 levels, according to a

statement released Tuesday by the Treasury Department

.

Feinberg, formally known as the "Special Master for TARP Executive Compensation," sets the pay levels for top executives at the companies that received unusually large amounts of assistance under the TARP.

Bank of America

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and

Citigroup

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were not subject to the 2010 rulings, because they have already paid back their extraordinary assistance.

Addressing a frequent justification for outsized pay packages that Feinberg has repeatedly scorned, the report noted that 84% of executives affected by last year's ruling remain with the same companies.

Additionally, Feinberg, will review compensation paid to all 419 companies that received TARP assistance prior to Feb. 17, 2009 to determine whether any payments made to the top 25 executives at those companies were "contrary to the public interest." To ease the burden on small institutions, however, Feinberg will limit the review to executives earning more than $500,000.

--

Written by Dan Freed in New York

.