UPDATE: GM Denies Seeking 23% Pay Hike for CEO

General Motors Co. declares "false" a flurry of news reports that it wants to award CEO Dan Akerson compensation totaling $11.1 million this year.

Akerson asked to keep his 2013 pay unchanged from the $9 million he received last year, according to GM. The company insists it sought that amount in the executive compensation proposal submitted to the U.S. Dept. of the Treasury under the terms of GM's government bailout.

Several media organizations say they have copies of that document, which reportedly proposes paying the company's top 25 managers a combined $82 million. The total includes $4.1 million-$6 million each to the five highest-ranking executives below Akerson.

GM declined requests for comment before the original news accounts were published.

The company now says the document was "misrepresented" by whoever leaked it "to score political points" on the eve of a Congressional hearing about pay at bailed-out companies. GM theorizes the confusion stems from a reference to Akerson's total compensation of $11.1 million in 2012, which included $2.1 million came from previously awarded stock grants that vested last year.