Nov. 7--As the government slashes pay for Ken Lewis and other executives at Bank of America, one key player at the bank gets to keep a perk valued at more than $1 million last year -- abundant personal use of company-provided airplanes.

That privilege goes to Chad Gifford, an influential director who is helping lead the search for the bank's new chief executive. Last year, Bank of America spent $947,682 on his flights, according to regulatory filings. It spent another $281,307 to help him pay for the accompanying taxes.

Gifford was the CEO of FleetBoston Financial Corp. when Bank of America bought it in 2004. It's not uncommon for executives of his level to get big perks when they retire, including country club dues and home security systems. But use of the company jet or company-chartered jets in retirement is one of the most expensive and exclusive perks.

As a board member, his perks don't fall under the government's heightened scrutiny of bank executives.

"Of all the perks that a CEO hates to give up, it's the corporate jet," said Ray Groth, co-founder of the Directors' Education Institute at Duke University. "It's a great benefit -- not having to go through lines and security."

But in the past year, public anger -- coupled with billions in government loans to the banks -- has led to radical questioning of the big paychecks and other perks that have been the norm for top bankers. Because it holds $45 billion in government loans, Bank of America is under the scrutiny of a "pay czar" appointed by the Obama administration this summer, with authority to oversee executive pay at the bank and a handful of other firms.

The pay czar, Ken Feinberg, ruled last month that the bank should not pay more than $25,000 per year in perks for each top executive. That could include personal flights on company planes. He also questioned the need for providing such extras for executives who are already highly compensated. "...(E)xecutives -- and not companies -- should generally cover the costs of personal expenses," his ruling said.

A Treasury spokeswoman said Feinberg picked $25,000 as the measure because it "struck the right balance between the need to retain talent, reward performance and curb excesses."

Board directors are not subject to Feinberg's rulings. A board is supposed to act as a check-and-balance on a company's management, representing the interests of shareholders and overseeing the CEO.

According to regulatory filings, Gifford entered a five-year retirement agreement with Bank of America in 2005.