Wachovia Corp. said that 10 of its top executives are eligible for a total of $98.1 million in severance pay after the company is sold to Wells Fargo & Co.

The $764.4 billion-asset Charlotte company said in a filing with the Securities and Exchange Commission Monday that the executives would get severance payments if the deal closes, as expected, by Dec. 31. Wachovia did not list the qualifying executives, though it said that president and chief executive Robert K. Steel's employment contract excludes such payments.

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