United States-Tyson Foods and the Golden hand-shake.
UNITED STATES-TYSON FOODS Inc.Dick Bond is leaving Tyson Foods in style. The former CEO’s severance package includes a 2009 Mercedes Benz, according to a company filing with the Securities and Exchange Commission.
Bond, who resigned last month, will receive nearly $5.7 million in cash over the next 10 years. Other perks include 25 hours per year of personal use of a company plane for three years, $85,000 per year in life insurance premiums, full benefits, a cell phone and the company-owned 2009 Mercedes Benz he had been driving since late last year.
Tyson spokesman Gary Mickelson explained that ownership of the car was transferred to Bond as part of the separation agreement.
In exchange, Bond will have to forfeit roughly 1 million unvested outstanding options and provide up to 20 hours per month of advisory services to Tyson.
The agreement stipulates that Bond may not work in competition with Tyson for the term of the agreement, effective Jan. 5, 2009, and ending Jan. 4, 2019, and the first year after the agreement’s expiration.




