$1.3M severance for Ed Martin from Nalcor
How much does a departing head of Nalcor get when he leaves the job? Ed Martin took home a severance package that made him a millionaire.
According to numbers confirmed by the energy corporation on Tuesday, Martin's final pay cheque was $1.387,815.74.
Nalcor's manager of corporate communications, Deanne Fisher, said Martin's contract entitled him to severance of two times his salary of $685,000, bonus and vehicle allowance.
Martin stepped down as CEO of Nalcor Energy on April 20 after a decade at the helm.
His resignation came after the provincial government expressed frustration about cost overruns and delays at Muskrat Falls.
Martin was replaced a day later by Stan Marshall, the former head of Fortis Inc.