P-VH board okays 2 golden parachute plans. (Phillips-Van Heusen Corp.)

From: Daily News Record | Date: February 17, 1987| Author: Forman, Ellen | Copyright information

P-VH Board Okays 2 Golden Parachute Plans NEW YORK (FNS) -- Phillips-Van Heusen Corp. said Friday that its board had approved two golden parachute plans for top executives totaling $45 million.

The first plan, which covers 16 top P-VH executives, provides for a maximum of $16 million for lump-sum payments of three times annual salary and bonuses in the event of a change of control, accompanied by a change in chief executive officer. The plan also indemnifies recipients ag...

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