Wallace Malone, the former CEO of SouthTrust Corp and vice chairman and director at Wachovia Corporation will retire and is expected to be eligible for retirement payments that could exceed $100 million. Malone, 69, joined Wachovia after it acquired SouthTrust for more than $14 billion in November 2004. His retirement package was determined by his employment agreement with Wachovia and pension plans he had with SouthTrust. Under his employment agreement, which Wachovia management agreed to as part of the SouthTrust acquisition, Malone will receive annual payments of $6.67 million for five years.