BOSTON (AP) - An executive who became CEO at Keane Inc. in late January just nine days before the information technology firm announced it would be bought out stands to receive at least $8.76 million in compensation for less than four months' work once the deal closes, according to an Associated Press analysis of a regulatory filing Friday.

A proxy the Boston-based company filed with the Securities and Exchange Commission shows Kirk Arnold stands to receive $4.76 million in "change in control" and severance payments after Keane's $854 million purchase by Caritor Inc., which is expected to close in May.

In addition, Arnold is due to receive $2.86 million in compensation for unvested shares of restricted stock in Keane, whose shares will stop trading after the deal closes because Caritor is a privately held company. The former Fidelity Investments executive also is due to receive $1.14 million in compensation for stock options, according to the filing.

The filing says that in case of a "change of control" -- a condition that would be met once Keane's acquisition closes -- Arnold "will be entitled to a lump sum payment equal to two times her base salary and two times her targeted annual bonus." Those awards also could be triggered "if Ms. Arnold's employment is terminated by us without case, or by Ms. Arnold for good reason," the filing says.

Her annual salary and bonus target are both listed at $600,000 in the filing.

"In addition, her stock options and restricted stock will vest in full, subject to certain limitations specified in the employment agreement," the filing says.

Larry Vale, Keane's vice president of investor relations, declined to comment on Arnold's compensation due to the pending acquisition of Keane by Caritor...

See the full story at MSN Money