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Five top TW Telecom execs to receive $88 million after Level 3 merger


TW Telecom's top five executives are in line to receive cash-and-stock payouts valued at more than $88 million if the company's proposed merger with crosstown peer, Level 3 Communications, closes.

Larissa Herda, who has led Douglas County-based TW Telecom since 1998, is scheduled to receive nearly $42 million in cash, accelerated stock awards and other benefits, according the change-of-control terms in her employment contract and based on Level's 3 purchase price of $40.86 per share.