NEW YORK (

TheStreet

) -- Some

American International Group

(AIG) - Get Report

executives could be exempt from a $500,000 salary cap proposed by U.S. pay czar Kenneth Feinberg, people familiar with the matter told

Bloomberg

.

The report follows news that certain of AIG's top executives, including general counsel Anastasia Kelly, notified the company

they were prepared to quit

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if their compensation was cut significantly by Feinberg.

Feinberg, currently reviewing compensation of 75 executives at AIG, may issue a ruling as early as next week,

Bloomberg

reports.

In October, Feinberg announced cuts in cash salaries for the top 13 executives by 91% and said unless there was "good cause" to pay more, cash compensation would be limited to $500,000 a year.

A person close to Feinberg told

Bloomberg

his move was unrelated to the AIG executives' threats to leave.

Meanwhile,

Bloomberg

reports Kelly has hired a law firm to represent executives concerned about their ability to collect severance payments.