Wachovia execs could get $98.1 mln severance

Anybody else repulsed by this?

(Reuters) Wachovia Corp, which lost $33 billion in the last two quarters, said 10 of its top executives may be entitled to as much as $98.1 million in severance pay after the bank is acquired by Wells Fargo & Co.

In a U.S. Securities and Exchange Commission filing, Wachovia said the executives would receive severance under their employment agreements if the merger closes by Dec. 31, as expected. Wachovia said shareholders will vote on the merger on Dec. 23.

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