The directors' personal payments were a requirement of any deal from the early days of their negotiations with Hevesi's lawyers. Given the enormous size of the WorldCom debacle, Hevesi sought to make an example of the directors, lawyers involved in the settlement said.
The amounts being paid will differ for each director. The precise amounts were not disclosed, but the payments will amount to roughly 20 percent of the directors' aggregate net worth, not counting their primary residences and retirement accounts.
Insurance companies that provided directors' and officers' liability coverage to the WorldCom board members will also pay US$35 million under the settlement.
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