Sovereign will pay [Alan H.] Fishman a $4.56 million lump-sum cash payment, as well as other severance compensation valued at $2.58 million. Fishman’s other severance compensation includes an annual lifetime retirement benefit of $532,000, a pro rata portion of his annual bonus of about $758,000, and accelerated vesting of his equity awards valued at $1.29 million. Fishman, who was also chairman and chief executive of Sovereign Bank’s New York division, will also receive three years’ health coverage after he resigns, the company said.