The Globe and Mail reports in its Friday edition that TD Bank did not fire chief executive officer Bharat Masrani after the bank pleaded guilty to criminal charges in the United States; Mr. Masrani also did not resign. The Globe's David Milstead writes that instead, Mr. Masrani will retire in April, then stay on as an adviser until October. The decision to allow Mr. Masrani to retire sets him up for tens of millions of dollars after he leaves the bank, and the public will never know how much money he will make. In its disclosures over the past nine years, TD has said it has paid Mr. Masrani $113.9-million, with $76.4-million of that coming from the estimated value of stock and option awards. By the time he retires, the total should be around $125-million. If an executive resigns, unvested stock awards are forfeited. They must use vested stock options within 30 days, even if they were supposed to expire years in the future. But for a retirement, as with Mr. Masrani, stock awards continue to vest on their original terms, and expire on their original expiration dates. (TD stock options have a 10-year term.) Because Mr. Masrani has held onto most of his CEO awards, he has just over two million TD stock options.