Freston's Golden Parachute Detailed In Viacom SEC Filing
October 19, 2006 at 1:12 PM (PT)
TOM FRESTON's golden parachute from VIACOM will garner the ousted CEO $58.9 million in termination payments, $7.4 million in deferred compensation, and $5.7 million in a 401(k) plan, according to an SEC filing by the company.
FRESTON will also get $1 million per year for three years as an "advisor" to the company, and he can exit that deal with two weeks' notice. The termination payments cover salary, bonus, and deferred compensation from his resignation until JUNE 30, 2009.