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Johnson last week signed a three-year employment contract that was supposed to take effect Tuesday. Duke Energy reported in a Securities and Exchange Commission filing this week that Johnson is entitled to a severance, bonus and other payments of up to $10.3 million. On Friday, Williams confirmed news reports that Johnson's combined package, including pensions and stock awards, could be worth nearly $45 million. The combined company will serve more than 7 million customers in North Carolina, Kentucky, Ohio, Indiana, Florida and South Carolina. Duke Energy's more than $100 billion in assets include power plants in Central America and South America and a portfolio of wind and solar renewable energy projects in the U.S. The state investigations come after former Progress Energy board members Alfred Tollison Jr. and John Mullin III said they felt misled about the merger plans. Mullin wrote the Wall Street Journal on Thursday, stating: "I do not believe that a single director of Progress would have voted for this transaction as structured with the knowledge that the CEO of Duke, Jim Rogers, would remain as the CEO of the combined company."
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