Wal-Mart Settles With Ousted Exec For $6.75M

Law360, New York (August 22, 2008, 12:00 AM EDT) -- Wal-Mart Stores Inc. will pay former executive Thomas Coughlin $6.75 million to void a retirement package that could have brought him an additional $17 million, the company said in a regulatory filing.

Coughlin, former vice chairman of the board, has given up all rights and claims under the retirement agreement and other benefits Wal-Mart withheld when it first revoked the deal in 2005, according to a filing made Thursday with the U.S. Securities and Exchange Commission.

The total value of the remaining benefits under the retirement...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.