Quote Originally Posted by Grist_To_The_Mill View Post
Usually it’s a compromise agreement.

ie a payoff amount is agreed and other stipulations are built in. One of those for example might be that the manager leaving doesn’t talk to the press about why he left. In industry there might be a clause about not working for a competitor within a certain period. Other agreements might include keeping health plans going, keeping the company car etc

Basically it’s horse trading
That was my point Grist, that managerial contracts would have clauses in for payment in the event of the manager leaving/ being sacked. UTM