Midland, Michigan and Wilmington, Delaware -- Around $80m in "golden parachute" payments will be available to the chief executives of DuPont and Dow Chemical in the event the combined companies – DuPontDow – split into three.
Dow Chemical ceo Andrew Liveris will get $50m in cash, stock and other payments, including the C.$40m for his retirement, DuPontDow said in a regulatory filing.
"Golden parachute" payments are contracts that give a top executive substantial benefits if the company is taken over and their employment is terminated as a result.
DuPont ceo Edward Breen will get over $27m, DuPontDow said.
Liveris has said he planned to retire by the second half of 2017 after 40 years with Dow
Meanwhile, antitrust regulators have extended the time period for reviewing the merger, a filing with the US Securities and Exchange Commission said earlier this week.
Regulators need additional information and materials to assess the merger and the request would extend the waiting period another 30 days.