LRW Honors Amtrak’s Acheson As Railway Woman Of The Year
From Editor-In-Chief Foran: Of Gender Equity And Inclusion
Spotlight On Some Of Today’s Rail Safety Products
Women of Influence in Rail eBook
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry
Stay updated on news, articles and information for the rail industry
railPrime
Rail News Home
Rail Industry Trends
Rail News: Rail Industry Trends
10/6/2003
Rail News: Rail Industry Trends
UP clamps down on lucrative severance packages for senior execs
advertisement
On Oct. 3, Union Pacific Corp. announced the company recently adopted a new policy prohibiting severance agreements with senior executives that exceed certain limitations unless shareholders approve such deals.
Union Pacific now will conduct a shareholder vote on any severance agreements with senior executive officers that provide specified benefits exceeding 2.99 times the executive's base salary plus bonus.
At UP's annual shareholders meeting in April, a majority of stockholders approved a shareholder proposal relating to severance agreements. The company then began a review process to address future agreements.
Union Pacific now will conduct a shareholder vote on any severance agreements with senior executive officers that provide specified benefits exceeding 2.99 times the executive's base salary plus bonus.
At UP's annual shareholders meeting in April, a majority of stockholders approved a shareholder proposal relating to severance agreements. The company then began a review process to address future agreements.
