• Top Mylan executives could share $ 93M payout from sale,

As CEO of the generic drugmaker Mylan, Heather Bresch earned $ 13.3 million in salary and bonuses last year. She could earn three times that amount in severance pay next year if the company’s agreement to merge in mid- 2020 with a Pfizer unit goes through.

Under her contract described in Securities and Exchange Commission filings, if Ms. Bresch meets certain terms, she is in line to receive a severance equal to three times her $ 1.3 million base salary and the highest bonus she had been paid, which amounts to $ 18.6 million in cash. In addition, the contract indicates she will pick up vested benefits, estimated at $ 19 million at the end of last year, for a total of $ 37.5 million.

The chief executive’s decision to leave the company, which has its administrative operations in Cecil, was announced as part of Monday’s news that Mylan would be merged with Upjohn, Pfizer Inc.’ s off- patent branded and generic medicines business, in an all- stock deal.

“After much reflection and nearly 28 years of service, I believe that this historic milestone in Mylan’s amazing journey is also the right time for me to retire from Mylan and pursue a new chapter in my career,” said Ms. Bresch, 50, in an official statement.

Along with three years of health and other benefits, Ms. Bresch and four other top executives at Mylan — at least one of whom is expected to remain at the company after the merger takes place — may walk away from the deal with a total of about $ 93 million in compensation.

Although Rajiv Malik, president and executive director of Mylan, will continue to serve as president of the as- yet- unnamed new company, he still could be entitled to a payout. The terms of his agreement filed with the SEC indicate Mr. Malik is entitled to a severance package worth $ 24.5 million, calculated using his stock value as of the end of last year, if he leaves the company and meets the terms.

Anthony Mauro, Mylan’s chief commercial officer in charge of overseeing all of its commercial businesses around the world, would receive a severance package worth $ 10 million, also based on December 2018 stock holdings, which is an amount equal to three times his base pay and highest bonus paid as well as vested benefits.

Kenneth Parks, chief financial officer, could walk away with $ 9.4 million in total compensation; Daniel Gallagher, chief legal officer at Mylan, could receive $ 11.35 million in cash severance and vested benefits. Both estimates are based on the payout each executive would have received if a change in control and termination came on Dec. 31, 2018.