The package included salary for 2.5 months with the insurer, nearly $930,000 in bonus money for 2009 and $7.4 million in additional compensation. The additional money consists of severance and retirement payments accrued over Mr. Killingworth’s six-year tenure with Blue Cross.
The $1.4 million in severance money Mr. Killingsworth received represents less than half of his eventual payout. Blue Cross will pay him another $1.8 million in 2011 and $925,000 in 2012, according to the report.
Read the Boston Globe report on Blue Cross compensation.
Read more on CEO salaries:
–California’s Grossmont Healthcare CEO Sees $200K Raise for Increase in Duties
–Fired CEO to Receive Nearly $1M Severance Package From El Camino Hospital
