More details have been released about the compensation package for new BC Ferries president Michael Corrigan. When he was appointed to the post Dec. 5, the company said his annual
salary was $364,000 and his total compensation with bonuses and other
benefits wouldn't exceed $563,000 a year, about half of what his
predecessor, David Hahn, made. A freedom of information request has now revealed details of Corrigan's
employment contract, showing that if he's terminated, Corrigan would
get severance pay equal to two years of his salary. The contract also shows as president, Corrigan will get enhanced health
and welfare benefits, supplemental executive pension benefits, seven
weeks vacation and a $1,200 a month car allowance. The contract says Corrigan will step down as president on July 1, 2017
but continue as a BC Ferris' consultant for one year, helping with the
transition to a new president. He will get the same salary and benefits until his normal retirement date of June 30, 2018.
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