clipped from: industry.bnet.com Allergan CEO David Pyott could get a $15.7 million change-of-control bonus if he says yes to GlaxoSmithKline’s alleged interest in buying his company.
The potential windfall is detailed in Allergan’s proxy statement filed with the SEC. Pyott gets $2.3 million if the company has a change in control (i.e. GSK buys all its shares). But he gets $15.7 million if his job is terminated after a change in control. (The proxy covers 2008; the deal in 2009 may have changed, but this is the most recent information available.)