SBC puts Ameritech buyouts on speed dial; More top-level managers now eligible.(executives have 30-day window to take early retirement with enhanced severance package)(Brief Article)(Statistical Data Included)

Crain's Cleveland Business, October, 2000 by JONES, SANDRA

The stream of managers departing Ameritech is likely to accelerate this month as up to 220 high-level executives become eligible for a lucrative severance package. The executives have a 30-day window that opened Oct. 8 -- the first anniversary of SBC Communications Inc.'s $75 billion purchase of Ameritech -- to exit the company under a change-of-control agreement that Ameritech had put in place to protect its top executives in the event of a merger, according to a Securities and Exchange Commission filing.

Under the terms of the agreement, the managers receive up to double the combined sum of their annual base salary, short-term incentive awards and bonuses for the year prior to the merger. The managers also receive medical insurance and other benefits for...

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