Rich Parting Package for Time Warner Ex-Boss; Nicholas Keeps Salary, Options, Benefits After Being Forced Out From: The Washington Post | Date: May 1, 1992| Author: Paul Farhi; Robert J. McCartney | Copyright 1992 The Washington Post. This material is published under license from the Washington Post.  All inquiries regarding rights should be directed to the Washington Post.Copyright information

Nicholas J. Nicholas, who was ousted as president and co-chief executive of Time Warner Inc. in February, will receive $15.7 million in cash from the company and has stock options that show a paper profit of an additional $8.5 million, according to Time Warner documents and company sources.

Nicholas's rich parting package includes a special arrangement under which he will be permitted to keep his stock options, potentially netting him an additional $1.06 million each time Time War...

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