Gener8 Maritime laid out $12.2m in severance-related payments to top executives as part of its soon-to-be completed acquisition by Euronav.
More than half of that will go to president and chairman Peter Georgiopoulos. He will receive $3.75m in severance payments, which equates to two year's of base salary of $750,000 and two years of annual target bonus of $1.125m.
In addition, Georgiopoulos will receive a transaction bonus of $1.775m.
