Most people wouldn't dare to fantasise about ever taking home a $90 million bonus, let alone pocketing it three months after joining a company.

But for the chief of Bermuda-based international telecommunications company Global Crossing, Robert Annunziata, it is not just an idle dream.

The 50-year-old CEO is in line for profits of about $90 million from share options after joining the ambitious company in February.

Right from his first day at Global Crossing, Mr. Annunziata has enjoyed a firm financial foothold -- including a $10 million signing-on bonus.

When he joined Global Crossing's ranks in February he was given a $5 million low-interest loan to buy company stock and a three-year employment contract worth $1 million a year.

He came to the firm after spending eight months as executive vice president of telecoms giant AT&T.

And Global Crossing's announcement earlier this week that it was set to take part in a $37 billion merger with US regional telephone company U S West could see Mr. Annunziata take home the tidy $90 million windfall.

It is understood he has 2.25 million stock options in Global Crossing and a change-of-control condition written into his contract that could be exercised on the merger's completion -- expected to be mid-2000.

He could see the options -- worth $135 million at the peak of trading yesterday when Global Crossing shares hit $58.6 -- exercised at $20 a share giving him profits of about $90 million.

But Mr. Annunziata could easily argue he is worth the huge fee.

Since he joined the company in February the value of it shares have more than doubled.

In fact since the company floated on Nasdaq last August the shares have risen more than 530 percent leaving some British and US analysts scratching their heads over the company's meteoric rise.

Gary Winnick, a former associate of junk bond king Michael Milken, founded Global Crossing two years ago with the goal of making it a worldwide telecoms player alongside AT&T and MCI WorldCom.

But even before Mr. Annunziata joined Global Crossing he was no stranger to fat pay cheques.

He was the founder of Teleport Communications -- the first US competitive local exchange carrier to compete head-on with regional Bell operating companies -- which was bought by AT&T last year for $11 billion.

Shares and options he held in Teleport where he was CEO for 15 years were worth $30 million when the company was sold, and this year he sold about $13.5 million of his AT&T shares.

Robert Annunziata: Global Crossing Chief Executive joined the Bermuda-based company in February.