Besides the almost $163 million he has already earned in the past five years, ousted Putnam CEO Lawrence Lasser might be entitled to as much as $89 in additional compensation, an analyst told The Wall Street Journal.
Whether Lasser receives that money hinges on whether Marsh & McLennan, Putnams parent company, fired him. As of now, reports are that they did not.
According to Executive Compensation Resources Managing Director Judith Fischer, Lasser, 60, would be entitled to $41 million in cash for his salary compensation, $12 million in bonuses, $15 million from his retirement package and a special $15.3 deferred award.
Paul Hodgson, a research associate at the executive contract company Corporate Library, told the Journal that the $89 million figure "is an outrageous sum."
Since becoming CEO of Putnam 18 years ago, Lasser has always been among the highest-compensated executives in the mutual fund industry.
Putnam officials would not comment on how much they owe Lasser, saying they are reviewing the rules to find out.