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Sixth Circuit: Golden Parachute Payments Not Illegal Merely Just Because They're Excessive and Grossed Up for Taxes
U.S. Court of Appeals for the Sixth Circuit, via FindLaw Link to more items from this source
[Opinion]
Feb. 5, 2001

Campbell v. Potash Corp. (6th Cir. February 02, 2001). Excerpt: [Appellant] next argues that the golden parachutes violate public policy, and therefore that the assumption agreement promising them is void.... [Appellant] cites no circuit case law supporting its proposition. At most this court has frowned on golden parachutes in past dicta, but we have never held that such severance packages are per se unlawful.

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