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The payout is down from 11% last year, itself a cut on the 15% in 2014.
The payout is based on 20% of the difference between $11.50 and the share price.
The payout is governed by the whims of the market; the employee bears all the investment risk.
The payout is in shares but staff are able to cash them in immediately if they want.
The payout is higher than the $10 million offered in an earlier settlement with the investors, which include several municipal pension funds.
The payout is likely to cause anger as 200 manufacturing jobs are being cut at the confectioner's historic base at Bournville.
The payout is part of an unorthodox long-term awards scheme pushed through by the Persimmon board last September despite 15% of shareholders opposing it.
The payout is limited to any pre-paid charges including the room, breakfast or dinner, and early or late checkout fees.
The payout is the largest ever obtained by the General Services Administration under the False Claims Act, which lets citizens sue on behalf of the government and share in any recovery.
The payout is comparable to some of the notable exit pay packages offered to American executives over the last 15 years, according to a list compiled by Equilar, an executive-compensation data company.
The payout is the latest victory for Lord McAlpine in light of last year's news report, which aired as the BBC was in the height of fallout over the Jimmy Savile scandal.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com