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His bonus for the year was thirty thousand pounds.
Besides the severance, which is equal to one year of salary plus a bonus for the year, Mr. Kindler will receive a $3.2 million cash bonus for 2010 and $1.8 million under an incentive plan, the filing said.
Kenneth Feinberg, the US treasury department official who is scrutinising pay packages at bailed-out banks, said that Lewis – besieged by regulatory investigations and lambasted by shareholders – should get no salary or bonus for the year.
"If you think you're getting a bonus for the year, approach your employer and ask if the payment could be deferred until next year," said Brent Lipschultz, a senior manager for personal financial planning at KPMG.
But last year when we were gathered around with the razmatazz of unfolding the percentage bonus for the year, I caught the eye of a cleaner on the same floor: no bonus for them.
The Lloyds boss waived his bonus for the year before last, a decision made easier by the fact that he took an eight-week break from work suffering from exhaustion.
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If a participant fell ill during a five-year period, for example, they could still lock in a bonus for the years in which they were healthy.
A decline in the bonus for the years to follow had to do with the budget of the health insurance companies who rationalized it by arguing that the data collection was most labour intensive at the start of the project.
Consequently, executives received most of the safety-related portion of their bonuses for the year.
Mr. Handler said that he and other senior executives had given back their bonuses for the year.
Bankers in Britain were rumoured, until this week, to be in line for billions of pounds in bonuses for the year to April.
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