For example, the California Public Employees Retirement Systemm has sponsored proposals calling for shareholder approval of severance packages in excess of 2.99 times the sum of an executive's base salary and bonus.
The scale of the BBC's severance payments – some in excess of the corporation's contractual obligations – led MPs to accuse it of a "dereliction of duty".
That figure, however, included an after-tax charge of $2.4 billion for a range of merger-related costs including revamping, provisions for severance payments and eliminating excess inventories after combining the product lines of the two companies.
Negotiations will now take place over his severance package, which could cost Liverpool in excess of £5m.
3.01pm BST A quarter of the 60 severance payments examined by the NAO were in excess of contractual obligations and signed off by the senior independent director Marcus Agius, says Hodge.
In a report, the National Audit Office said: "YPLA were aware of 14 instances at nine academies where severance payments had been made by academies in excess of employers' contractual commitments, and submitted these cases, with an aggregate value of £227,832 to HM Treasury in June 2012 relating to the 2011-12 financial year.
c) Options related to excess subordinate staff include: (i) Offering employees early retirement with severance pay plans (i.e. voluntary retirement); (ii) forced retrenchment with severance package; and (iii) transfer of excess labour force to under-staffed primary health care facilities.
In May, the Ford Foundation offered its severance package to employees working in areas where it had the "most excess capacity," said Marta L. Tellado, Ford's vice president for communications.
The Republic manager had been close to losing his job after the Germany embarrassment, only to be saved by the 4-1 win in the Faroe Islands four days later and the fact a severance package would have cost the cash-strapped Football Association of Ireland in excess of £1m.
The company sent letters to 25 of the 1,400 Vista designers it had given severance deals to in January telling them it had paid them too much severance money and demanding back the excess.
