Bank of America has agreed to pay Countrywide Financial president and chief operating officer David Sambol $28 million to stay on as head of the combined firms’ consumer mortgage division. The combined $20 million signing bonus and $8 million in stock is 37 percent higher than what Bank of America CEO Kenneth Lewis earned last year. Sambol’s pay package was unveiled yesterday in an SEC filing that also valued the Countrywide merger at $4.1 billion. (Reuters)
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The Bottom Line
March 28, 2008
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