Armstrong Lists $463,500 Severance Pact
By Tim Mekeel | |
Proquest LLC |
Business Editor
A top
Armstrong reported the impending departure in a filing with the
The filing did not provide a reason for his exit.
After he leaves, Maier will provide "transitional services" to the firm through
If Maier stays through
Maier will receive a lump-sum payment of
The 2014 bonus could go as high as
He also will get continued medical, prescription drug and dental and life insurance coverage for six months at rates charged active employees and 12 months of outplacement services.
Maier's 2013 pay is not known, as Armstrong has yet to report it. But its earlier filings show Maier was paid
Maier joined Armstrong in
That was four months after TPG bought a 14 percent stake in Armstrong.
News of his impending departure comes a month after TPG sold its last shares in Armstrong.
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Wordcount: | 255 |
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