AMC Networks (AMCX) has shared an update.
James G. Gallagher, Executive Vice President and General Counsel of AMC Networks Inc., will retire on January 2, 2025, but may leave earlier as terms allow. Until then, he’ll assist in appointing and transitioning to his successor while receiving his current compensation. Upon leaving, he’s entitled to a significant severance package, including 1.5 times his annual salary and bonus, bonus for 2024, continued salary until retirement if terminated early, health benefits, stock vesting, and performance award vesting, provided he adheres to a noncompetition agreement for one year post-employment. AMC Networks is in the process of filing the full Separation Agreement details.
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