Last year, SEC filings show, BellSouth CEO Duane Ackerman pulled in $1.36 million in salary, $2.23 million in bonuses, and about $80,000 in "other" compensation (aircraft and car allowances, etc.).
After a $3.4 million year, Ackerman has an even bigger pile to look forward to if BellSouth's merger with AT&T goes through as announced. According to SEC filings:
In such event, in their current positions, each of Messrs. Ackerman, Feidler, Anderson and Dramis would receive payment of an amount equal to three times his annual base pay plus three times his standard annual bonus, plus an immediate cash-out of his bonus for the year of termination.So, conservatively, Ackerman's looking at a nearly $11 million payout, not including his cash-out bonus amount, which wasn't disclosed. It's always best to have these figures in mind before the M&A-related job cuts start in earnest…
— Phil Harvey, Headcount Editor, Light Reading