Friday, June 02, 2006

Constellation Compensation

Baltimore Business Journal:
Thirteen executives at Constellation Energy Group Inc. stand to receive up to a total of $73 million in payouts from company stock and incentive plans if the company's proposed merger with a Florida power company goes through.

Seven of those executives also could reap a share of $27.5 million in cash severance if they are fired after the $10 billion merger with FPL Group Inc of Juno Beach, Fla closes.

The disclosure came in a letter to leaders of the Maryland General Assembly, who made a broad request for information from the Baltimore-based energy company.