A $125 Million Pay Day For Ken Lewis

Most of the Lewis compensation was set long before the big bank got into trouble and had to take $45 billion in TARP funds, so his employment contract may be sacrosanct. If so, he will get one of the largest severance packages in American corporate history.

According to Reuters, “Lewis’ severance package includes $53.2 million in retirement benefits, mostly from a program frozen years ago, and $72.8 million in accumulated stock and other compensation, according to an analysis by consultant James F. Reda & Associates.”