PG&E executive who lost job over emails to receive $1.1 million in severance pay
Source: Bay City News Service
A former PG&E senior executive who lost his job following the disclosure of inappropriate emails to regulators will receive a $1.1 million severance payment, according to a report filed by the utility with the Securities and Exchange Commission.
Thomas Bottorff, the former senior vice president of regulatory affairs, was one of three executives whose employment was terminated in September when PG&E revealed a set of emails to the California Public Utilities Commission that appeared to show improper judge-shopping.
... Conditions of the severance package are that Bottorff must cooperate in legal and regulatory proceedings concerning PG&E, must not sue PG&E for any reason, and must refrain from demeaning the utility's reputation. The agreement says, "Even though Mr. Bottorff is not otherwise entitled to them, in consideration of his acceptance of this agreement, the company will provide to Mr. Bottorff" certain separation benefits.
The benefits include the $1.1 million in severance pay; continued vesting of stock given to him in an incentive plan; $29,000 in health insurance payments for 18 months; and $12,000 worth of career-transition services.
Read more: http://www.mercurynews.com/crime-courts/ci_26870345/pg-e-executive-who-lost-job-over-emails
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