BREAKING: Sovereign Bank Prez Says ‘Smell Ya Later,’ Exercises ‘Hissy Fit’ Clause Of Contract After Not Getting CEO Chair, Invokes Hobo Prayer On Way Out Door, ‘I Quit, Now Pay Me Millions!’

securitycam.jpg 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.

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