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 DALLAS (AP) - Former RadioShack Corp. Chief Executive Dave Edmondson, who resigned Monday following questions about his resume's accuracy, will receive a cash payout worth at least $1.03 million, the company said Tuesday in a regulatory filing.
Edmondson began receiving four quarterly payments of $243,750 — totaling $975,000 — on Tuesday. He also will receive $57,692 for accrued, unpaid vacation, plus an undisclosed amount for accrued and unpaid salary by Thursday.
The Fort Worth electronics company did not identify the total value of the severance package, which also includes four months of insurance coverage and the ability to exercise outstanding stock options and restricted stock awards early.
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