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Those who got the reviled cash retention bonuses last year are due — under those contracts — to get the same bonuses this March.
First, there were those cash retention bonuses, which 8 of the 12 A.I.G. executives now under Feinberg's purview received in 2009.
Lucent's annual financial report and a proxy statement for shareholders, filed today with the Securities and Exchange Commission, showed that three of Lucent's top five executives will get "cash retention payments" ranging from $1 million to $4.5 million.
The program will include a cash retention bonus in lieu of 2008 stock options, enhanced cash severance and acceleration of stock options under certain conditions, according to a spokeswoman for Genentech.
As for Herzog, the chief financial officer, and the seven other A.I.G. executives who took the 2009 cash retention bonuses and wouldn't give them back, Feinberg pointedly gave them cash salaries ranging from $100,000 to $450,000 and nothing else.
The $10 million included a $7 million cash retention bonus related to WorldCom's 1998 merger with long-distance company MCI.
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The release of the significant cash retentions related to the Manchester contracts will also be important for the company in 2014.
Hong Kong-based Hutchison Telecom will get $10.9 billion in cash, reflecting retention and closing adjustments agreed between the two companies, Vodafone said in a statement.
Wilson Kriegel, who was OMGPOP's chief revenue officer until the Draw Something maker was acquired for $210 million in cash and retention, is taking a president and chief operating officer role at New York-based Paltalk.
Of the rest, 17 stood out for paying $1.6 billion in incentives, such as cash bonuses, retention awards, stock grants and "golden parachute" retirement packages, Feinberg said.
The purchase price is $2.7 billion, or $76 per share in cash plus retention-based incentives.
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