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Golden parachute payment
Golden parachute payment - Trends
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Lucrative benefits given to top executives in the event that a company is taken over by another firm, resulting in the loss of their job. Benefits include items such as stock options, bonuses, severance pay, etc. Investopedia Says : A golden parachute can be used as a measure to discourage an unwanted takeover attempt. Related Links : Do you want your company to sandbag or greenmail? Welcome to the dramatic world of mergers and acquisitions. The Wacky World of M&As Find out how to determine whether a CEO is being overpaid. Evaluating Executive Compensation Lucrative contract given to a top executive to provide lavish benefits in ...
A former bank executive has filed a lawsuit against Macon-based Security Bank alleging breach of contract and that the bank owes him nearly $600,000 in unpaid compensation. The civil case was filed in the Superior Court of Bibb County on May 15. H. Averett “Rett” Walker resigned from Security Bank Corp. and its affiliate Security Bank of Bibb County in mid-September. According to an 8-K Form filed with the U.S. Securities and Exchange Commission at the time, Walker would receive as separation pay twice his base salary and incentives — or $845,932, less taxes and other ... Read More
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