*SCALPSWINGSTRADDLE*

[THE_YAK]

Head of CIT now, ex CEO of Merrill before he fisted BAC with the hidden losses.

Upon joining Merrill Lynch, Thain received a $15 million signing bonus. The firm announced that Thain would receive at least $50 million a year and could be paid as much as $120 million a year, based on the company's stock price. The Associated Press in 2007 identified Thain as the best paid among the executives of S&P 500 companies, as he had received $83.1 million. In 2007, John Thain earned a total compensation of $83,785,021, which included a base salary of $750,000, a cash bonus of $15,000,000, stock grant of $33,013,151, and options grant of $35,017,421.[13]
Thain suggested to directors that he receive a bonus in 2008 of as much as $10 million, because he "saved Merrill" by selling it off to Bank of America.