NU Online News Service, Jan. 20, 12:21 p.m. EST
Brown & Brown will pay its ex-chief acquisition officer a severance package of more than $800,000 after the announcement that he left the company earlier this month.
In a filing with the Securities and Exchange Commission, the Daytona Beach, Fla.-based insurance broker said it reached an agreement with Thomas E. Riley on a separation agreement and release where it will make a one-time payment of $400,000 and a second payment of $400,000 in four installments. In addition he will receive $22,756 to cover continuation of health insurance benefits for Mr. Riley and his family for the year.
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