Mr. Murray will receive severance equal to 18 months of his annual base salary, or about $1.3 million, according to a filing with the U.S. Securities and Exchange Commission. The severance will be paid in bi-weekly installments through March 15, 2018.
In addition, Mr. Murray may receive a lump payment of nine months of his base salary, or about $645,690, if he adheres to confidentiality and noncompete agreements through Dec. 31, 2018. He is also able to receive a prorated annual incentive payment based on the performance of Louisville, Ky.-based Humana’s 2017 Management Incentive Plan. That prorated payment would be paid March 15, 2018.
Mr. Murray left Humana March 31 and became LifeCare’s CEO April 1.
More articles on payer issues:
CHI Health joins BCBS of Nebraska’s Medicare network
Kansas, other states pursue Medicaid expansion following AHCA withdrawal
Highmark names Dr. Charles DeShazer CMO
