A group representing 100,000 retireees said Tuesday it is going to vote against the pay package for Verizon's chief executive , saying it's overly generous .
Verizon communications Inc's Ivan Seidenbuerg is one of the the first CEO's at a major company to face the need to justify his pay directly to shareholders .
At the phone company's annual meeting May 7 , shareholders will vote on whether in 2008 compensation package is reasonable .
The vote won't be blinding , but if the Assocation of BellTel retirees is joined by major shareholders and pushes through a " no " result , it would be embarrassing to the company .
Seidenbrg earned a pay package valued at $ 20.2 milliob in 2008 , according to calculations made by the Associated Press.
Wire reports
