Tag Archives: $44.4 million

Make the insanity stop – or give me his job, and then I won’t care

(I’m pasting-in this clip from the WSJ to show that this  is a bona fide story and not something out of a Muslim commie Kenyan anti-colonialist way gay anti-American dream factory.)

Despite his short-lived tenure, Mr. Johnson will receive exit payments worth as much as $44.4 million, according to Duke.That includes $7.4 million in severance, a nearly $1.4 million cash bonus, a special lump-sum payment worth up to $1.5 million and accelerated vesting of his stock awards, according to a Duke regulatory filing Tuesday night. Mr. Johnson gets the lump-sum payment as long as he cooperates with Duke and doesn’t disparage his former employer, the filing said.

The Duke board voted for Johnson’s resignation, and since Johnson was eligible for severance if he quit for “good reason,” he is able to collect his $44 million. Grist calculates that Johnson’s pay package comes out to $5.5 million per hour, if he actually put in a full 8-hour day.