DETROIT — Dura Automotive Systems Inc. has handed out pink slips to hundreds of employees as the auto parts maker struggles to leave Chapter 11 reorganization. But if Dura CEO Larry Denton ends up laid off, you won't need to feel sorry for him.
He would get $1.84 million if terminated without cause, according to court documents. That's just one of several possible future scenarios. Denton does well under all of them.
"If the company is sold and Mr. Denton leaves, he could take home as much as $5.7 million in severance," says Alexander Cwirko-Godycki of Equilar Inc. The Redwood Shores, Calif., company provides executive compensation analysis.
Alternatively, if Dura isn't sold but rather emerges from Chapter 11, Denton could get millions of dollars in new equity.