(Bloomberg) -- WeWork will have to pay about $17 million to its co-chief executives Artie Minson and Sebastian Gunningham if they are fired or leave the company for multiple reasons, the Financial Times reports, citing documents and people briefed on the matter.
Minson and Gunningham would receive $8.3 million each under the exit packages negotiated. Chief legal officer Jennifer Berrent would receive $1.5 million under the same conditions, and she will not have to repay $12 million of retention bonuses if she is terminated or leaves the company.
Exit package terms were sent to shareholders ahead of a $3 billion tender offer for shares by Softbank. The documents note that WeWork may continue experiencing a “significant amount” of senior management turnover, the FT reports.
Read More: SoftBank Launches $3 Billion Tender Offer for WeWork Shares
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To contact the reporter on this story: Polina Noskova in New York at pnoskova@bloomberg.net
To contact the editor responsible for this story: Sarah Kopit at skopit@bloomberg.net
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