10 Golden Parachutes
1. Michael Pearson
Valeant Pharmaceutical International (VRX)
The hedge fund darling of the pharmaceutical world saw the company’s stock plunge roughly 88% from the stratosphere. The firm couldn’t file its annual report on time. It retracted a number of price hikes in the wake of rising anger at pharmaceutical CEO Martin Shkreli. They even have faced allegations of fraud. The stock has been under repeated pressure due to the significant amount of debt it accrued to bolster its acquisition strategy. Pearson was relieved of his duty in April, but not before receiving a large severance package. The total compensation is valued at roughly $9 million. He will earn $83,333 per month over the rest of 2016 serving as a consultant. After that time, Pearson could be paid $3,750 per day for any consulting services. An SEC filing states he is set to receive another $15,000 per month in 2017.
2. Andrew Liveris
Dow Chemical (DOW)
The $130 billion merger between chemical giants Dow and DuPont (DD) did more than establish a massive powerhouse in the sector. The post-deal parachute of Andrew Liveris is valued at roughly $52.8 million in cash, stock and other forms of compensation. That includes $40 million he was already going to receive after 40 years at the firm, according to the Washington Post.