WASHINGTON - Two executives walked away from the Securities Industry and Financial Markets Association last year with roughly $1 million or more in severance pay after the Bond Market Association and Securities Industry Association merged to form the group, according to a tax form SIFMA recently filed with the Internal Revenue Service.

Micah S. Green, who was co-chief executive officer of SIFMA, and Donald D. Kittell, the trade group's chief financial officer at the time, received $1.10 million and $991,666, respectively, on top of the compensation SIFMA reported for them for the fiscal year ending Oct. 31, 2007.

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