Jennifer L. Weber (Executive Vice President, HR) and Lowe’s Companies, Inc. (NYSE: LOW) signed agreement saying that Ms. Weber’s employment with LOW is terminated.
Lowe’s Companies, Inc. and Ms. Weber entered “into a Release and Separation Agreement on the Departure Date pursuant to which Ms. Weber is entitled to receive the following payments and benefits”:
Severance pay in an amount equal to $2,508,000 payable in substantially equal installments over a period of 24 months following the Departure Date.
This means that Ms. Weber will , according to this agreement, receive approx $100,000 each and every month for the next 2 years.
Not bad. In other news Lowe’s temporarily increased “wages by $2 an hour for every full-time, part-time and seasonal hourly store, contact center and supply chain associates”.