RSA Security Sets Aside $7 Million As Merger Payouts

BEDFORD, Mass. -- RSA Security Inc. reported will pay top executives $7.1 million in retention and change of control bonuses as part of its pending acquisition by EMC. CEO Arthur Coviello, Jr., stand to earn the most, a $2.225 million deal retention and bonus payment, according to documents filed with the Securities and Exchange Commission. The next biggest payments would go to: Robert Nault, RSA's general counsel, a $540,000 deal retention bonus and $396,000 change in control payment; chief financial officer Charles Kane $540,000 and $300,000; senior vice president and head of human resources Vivian Vitale $360,000 and $266,667; and senior vice president and head of worldwide sale James Bandanza $230,000 and $306,667. Shareholders of RSA, one of the leading providers of online authentication and antifraud software, are scheduled to vote next month of the acquisition of the company by EMC, of Hopkinton, Mass., for $28 a share, or a total of $2.1 billion.