Under the terms of her contract described in Securities and Exchange Commission filings, Ms. Bresch is eligible to get severance equal to three times her $1.3 million base salary and the highest bonus she has ever received. This amounts to $18.6 million in cash. Additionally, she will pick up vested benefits, which are estimated at $19 million.
Ms. Bresch’s decision to leave the company was made public July 29 as part of the announcement that Mylan would merge with Pfizer’s Upjohn unit to create a generic medication powerhouse.
“After much reflection and nearly 28 years of service, I believe that this historic milestone in Mylan’s amazing journey is also the right time for me to retire from Mylan and pursue a new chapter in my career,” Ms. Bresch said in a news release from the company.
According to The Pittsburgh Post Gazette, Ms. Bresch and four other top executives may walk away from the deal with $93 million in compensation.
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