Business
Oxford CEO could get big payment
NEWS IN BRIEF — Posted June 7, 2004
The CEO of Oxford Health Plans stands to receive about $5.5 million in cash and stock as severance pay if his company is acquired by Minnesota-based UnitedHealth Group, even though Berg won't be out of a job if the deal is done.
The Hartford Courant reports that Charles G. Berg, who is slated to become the head of United's Northeast region once Trumbull, Conn.-based Oxford is acquired, will get nearly $3 million in cash plus 72,5000 shares of United restricted stock as part of the acquisition. His yearly base salary with United will be $825,000.
United announced plans to buy Oxford in April for about $5 billion in cash and stock. The deal must be approved by state and federal regulators.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/06/07/bibf0607.htm.












