Merrill chief’s endgame deal revealed

If Merrill Lynch & Co. Inc. chief executive Stanley O’Neal were to resign or be fired from the world’s largest brokerage firm, he would take home a $251.4 million pay package.
The bulk of the payout — $221.8 million — would come from an acceleration of stock-based compensation, due to termination without “cause” or resignation for “good reason” following a change in control, according to a filing today with the Securities and Exchange Commission.
The remaining amount would come from a $29.5 million change in severance control payments and $116,609 in payments from retirement and insurance benefits.
Mr. O’Neal’s 2006 package totaled $48 million, including an $700,000 salary, an $18.5 million cash bonus and $26.8 million in stock grants.