Charles K. Gifford, chairman of BankBoston Corp., extracted at least $35 million in compensation over three years for himself and three other senior executives as part of the merger with Fleet Financial Group.

Mr. Gifford's three-year contract guarantees an annual salary equal to that of Terrence Murray, his Fleet counterpart, and an annual bonus at least 90% of Mr. Murray's, according to Fleet's proxy, which was filed Thursday with the Securities and Exchange Commission.

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