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Published: October 31, 2007
Questions and Answers with Norwood Beveridge
CEO's severance package isn't a golden parachute
CEO's severance package isn't a golden parachute
Q : In light of the reported $161.5 million severance package that ousted Merrill Lynch Chief Executive Officer E. Stanley O'Neal will receive, why would a company pay someone that kind of money to just go away?
A : According to the Merrill Lynch SEC filing, this is not severance pay, and he will receive no bonus for 2007. The total package of $161.5 million consists of restricted stock and stock options ($13...
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