Last month, SeaWorld announced that CEO Jim Atchison would be stepping down from his post. Turns out that move is worth $2.6 million.
According to the company’s last proxy statement, filed in April, Atchison’s severance pay totals nearly that much, with most of the payment coming in cash. The severance pay is equal to twice his yearly base salary, plus his targeted 2013 bonus.
Not bad for a CEO who’s seen the value of his company’s stock plummet 38% since the start of 2014.
Of course, Atchison is technically still at SeaWorld. Though he is no longer the chief executive, he continues to serve as the company’s vice chairman and a consultant on international expansion.
SeaWorld has had a bad few years, with park attendance down and the company’s reputation taking a beating due to the controversial anti-SeaWorld documentary Blackfish.
News of Atchison’s big payout was first reported by USA Today.
More Must-Reads from TIME
- Why Trump’s Message Worked on Latino Men
- What Trump’s Win Could Mean for Housing
- The 100 Must-Read Books of 2024
- Sleep Doctors Share the 1 Tip That’s Changed Their Lives
- Column: Let’s Bring Back Romance
- What It’s Like to Have Long COVID As a Kid
- FX’s Say Nothing Is the Must-Watch Political Thriller of 2024
- Merle Bombardieri Is Helping People Make the Baby Decision
Contact us at letters@time.com