Citigroup has awarded its CEO, Vikram Pandit, a multimillion-dollar retention package to retain him for at least four more years, The Wall Street Journal reports. He is set to secure a multiyear $10 million stock grant plus new options valued at an estimated $6.7 million and profit sharing.

Pandit will receive the stock in three equal installments at the end of 2013, 2014 and 2015. The retention bonus comes on top his base salary for 2011 of $1.75 million, adds Reuters.

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