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Citigroup's board broke the retention package into three parts.
"So I think the company pays more in employee retention packages — a Microsoft premium".
Mr. Klein, who headed Citigroup's investment banking operations, was given a retention package in cash and stock worth $19.3 million.
But such a vote almost ensures the passage of the retention package with the merger.
In addition, he received a retention package valued at $40 million, to be awarded through 2015.
The initial deal required that the merger and retention package be approved together.
The retention package also could signify the unofficial end of the post-bailout pay era.
On Monday, Mr. Kruszewski said that about 85 KBW executives had signed retention packages.
Xstrata adjusted its retention packages in August after institutional shareholders complained.
If the retention package is approved and you vote no on the merger and retention package, your vote won't count toward the 75 percent of shares needed to approve the merger.
Justice ministers hope a new pay and retention package being voted on this week by unions will help resolve the issue at privately and publicly run prisons.
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