Paid to explore…
Go ahead…take the next few months off to explore new business opportunities in a distant country, all the while collecting a hefty salary as you ease into retirement. What? Your boss has never uttered those words to you? Perhaps you’re working for the wrong company because that’s exactly what Harvest Natural (HNR) told its former CEO according to this 8-K filed yesterday.
According to the filing, former CEO Peter Hill will receive over $33,000 a month (plus expenses) through the end of May at which time he’ll collect a $300K bonus too. There’s also several other goodies thrown in, like a $600K life insurance policy and reimbursement for health insurance in New Zealand, where Hill seems to be retiring to. The consulting gig pays about the same as Hill was making when he was CEO (and presumably working full-time). It’s also slightly more than incoming CEO James Edmiston will be making too.