Leland Tollett earned $533,459 as the interim CEO for Tyson Foods Inc. in 2009, according to Associated Press.
Tollett, 72, announced his retirement in November. He will receive $300,000 a year in consultation fees with the company until his death, according to documents filed Tuesday with the Securities and Exchange Commission.
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If he dies within the first 10 years of the agreement, the payments will be made to his estate, guaranteeing $3 million.
In January, Tollett left retirement to return to the position in the company he held from 1991 to 1998. He is succeeded by Donnie Smith, who was previously Tyson's senior group vice president of poultry and prepared foods.
Tollett's salary was $477,652. He received perks and other benefits totaling $55,753, including nearly $12,000 for matching contributions under an employee stock purchase plan, about $11,000 for contributions under a retirement savings plan, and about $14,000 for personal use of company aircraft and other items. He received no bonus and no grants of restricted stock and options, and made $54 on above market earnings on deferred compensation.
Tollett replaced Richard Bond, who resigned last January after having served as CEO since 2006. Bond served as CEO of Tyson for about three months in fiscal 2009. His total compensation was about $2 million, according to AP.
Bond's base salary was $932,455, although $592,498 of that was paid according to an advisory agreement after his resignation. According to the filings, Tyson is retaining Bond to advise the company for 10 years, with payment of $757,620 for the first five years and half that amount in the last five years.
Bond received perks and other benefits totaling $455,419, including nearly $111,000 for tax reimbursement, $141,000 for personal use of company air craft, $85,435 for executive life insurance and $55,544 for personal use of a company car and the value of that car, which he got to keep after his resignation.
Bond's pay package included grants of restricted stock and options in fiscal 2009 that were valued by the company at $645,000 the day they were made. The options have an exercise price of $4.90, while Tyson's stock price has risen since. Shares were trading Tuesday up 4 cents to $12.32.
He received no bonus and made $25,776 on above market earnings on deferred compensation.
For the year, Tyson lost $537 million, or $1.44 per share, compared with a profit of $86 million, or 24 cents per share, the year before, which included one less week.
Adjusted earnings were 6 cents per share after removing the impairment charge.
Annual sales dipped 1 percent to $26.7 billion from $26.86 billion.
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