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Checking out…

Five of hotel chain Wyndham International’s (WBR) top executives are leaving the company, according to an 8-K filed earlier today. Though the brief press release announcing the changes doesn’t mention it, 3 of the 5 will walk away with hefty severance packages, according to earlier SEC filings. Outgoing execs Theodore Teng, who is stepping down as president and COO, CFO Richard Smith and EVP Joseph Champ are set to receive 2 years worth of salary and bonus, which for Teng, runs around $2 million. It’s not clear from the filings what the other two outgoing execs will receive in terms of severance. But considering that the company’s market cap is a meager $126 million and the stock is trading below a buck, it certainly seems like that money could be put to better use for investors.