http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20051203/RTICKER03-11/TPBusiness/?query=Nortel



Nortel Networks Corp.'s former chief executive officer William Owens will receive a lump-sum payment of more than $2-million (U.S.) and twice his allotted bonus as part of his severance package. The payment represents two year's base salary, Nortel, the largest North American telephone equipment maker, said yesterday in a regulatory filing. Mr. Owens will also receive nine weeks' salary for unused vacation. Nortel, which replaced Mr. Owens with Mike Zafirovski Nov. 15, will pay its former chief a pension equal to about $99,000 a month for five years.