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All values for shares and options are as of November 2, but Citi's shares have fallen nearly 13 percent since then.
The $40 million is in addition to about $53 million of shares Prince already owns, but Prince is receiving considerably less than the $161.5 million that Merrill Lynch's O'Neal received.
In addition to the compensation, shares, and options, Prince will also receive salary payments at the same rate as prior to his retirement, and benefits at the prior rate, through the end of the year.
Prince will continue working at Citi during that period, to advise Chairman Robert Rubin and Acting CEO Sir Win Bischoff.
The former CEO will also be entitled to an office, administrative assistant, and car and driver for five years, or until he starts working elsewhere full-time.
Most of the package is contingent on Prince abiding by the terms of his departure, including not competing with the company and not soliciting its clients or employees.
Don't expect the expected from Dibakar Banerjee.
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