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More than 4 in 5 Fortune 200 companies have similar — and sometimes more generous — enhanced severance agreements for top executives after a merger or acquisition, according to Equilar, an executive compensation research firm.
They are also receiving enhanced severance and benefits packages regardless of tenure and without a traditional, legal severance agreement.
Those who left were given enhanced severance packages if they signed the waiver.
Originally, the executives were to receive $900,000 in "enhanced severance," but according to the motion, the company now intends to pay them only what they would be entitled to under WorldCom's normal severance policies.
At Motorola, enhanced severance is even viewed as a subtle tool for future recruiting, once the economy revives and hiring resumes.
Those who wanted to become independent agents or wished to receive enhanced severance benefits were required to agree not to sue Allstate.
For those employees, we are offering enhanced severance benefits and outplacement assistance to help with their transition".
The envelope contained a severance agreement.
The severance agreement technically ended in 2009, but continues to pay out additional amounts.
"I opened it up and saw a final or prior draft of a severance agreement.
It has not been disclosed how much Mr. Romney earned through his severance agreement in previous years.
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