Todd Teske, the former chairman and CEO of Briggs & Stratton, has filed an $11.6 million claim in the bankruptcy case seeking his share of payments that are likely to be in the range of 7-8 cents on the dollar, reports the Milwaukee Business Journal.
According to the report, “It’s not clear whether Teske’s claim covers some or all of the payments that would have been included in his $8.8 million ‘golden parachute’ package.
- The unsecured claim filed Wednesday includes:
- Key-employee savings and investment plan: $2.77 million
- Supplemental executive retirement plan: $6.3 million
- Long-term incentive payments: $2.58 million
- Pension plan, employment agreement and life insurance policy: Unknown amounts.
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