Estimated reading time: 0 minutes, 33 seconds

EXACT CEO GOT $289K SEVERANCE

Raj PatelFormer Exact CEO Raj Patel got roughly $289,000 in severance when he resigned the company last year.  That brought the pay for his final 12 months at the head of the Dutch software company to about $984,000 for the year ended Dec. 31, 2010. Patel left on July 31, but the severance represented an amount in lieu of the half-year pay required by Dutch law. Exact paid his successor, Martijn Janmaat, about $460,000. Janmaat says he plans to stay only until August and would not consider staying past the one year he committed to in agreeing to take over the job. He made his announcement last month to give the company's supervisory board time to find a replacement.

Read 1830 times
Rate this item
(0 votes)

Visit other PMG Sites: