Good thing you can get bulk at less cost.
Now on your knees!
"Big payouts promised for BJ’s executives" July 22, 2011|By Jenn Abelson, Globe Staff
BJ’s Wholesale Club Inc. chief executive Laura Sen will receive nearly $15 million in compensation in a golden parachute arrangement if she is terminated by the private equity firms that are acquiring the Westborough chain, according to a securities filing yesterday.
Other top BJ’s executives stand to earn more than $4 million in their own golden parachute agreements as part of the proposed takeover deal with Leonard Green & Partners LP and funds advised by CVC Capital Partners. If Sen continues to lead the company, she will earn roughly $9.2 million, according to the filing with the Securities and Exchange Commission.
Shareholders will have a chance to vote on these compensation arrangements, but only in a nonbinding resolution. That means, “regardless of whether stockholders approve this proposal, if the merger is approved by the stockholders and completed, the ‘golden parachute’ compensation will still be paid to the Company’s named executive officers to the extent payable in accordance with the terms of such compensation contracts and arrangements,’’ according to the filing....
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