O'Reilly, other execs leave with 'golden parachutes' - NBC12 - WWBT - Richmond, VA News On Your Side

O'Reilly, other execs leave with 'golden parachutes'

Ousted Fox News personality Bill O'Reilly is not the only famous exiting exec to receive a huge payout amid scandal. (Source: CNN/Fox/ Getty/Weinstein/Follow Through Productions) Ousted Fox News personality Bill O'Reilly is not the only famous exiting exec to receive a huge payout amid scandal. (Source: CNN/Fox/ Getty/Weinstein/Follow Through Productions)

(CNN) - How and why did Bill O’Reilly walk away with so much cash? O’Reilly had recently signed a new contract and has what’s called a “golden parachute,” so he’s getting what sources tell CNN is about a year’s salary.

His contract wasn’t set to expire until after the next presidential election. He won’t get the full amount because Fox apparently added language to the new contract that gave the network an out in case of fallout from harassment claims surrounding O’Reilly grew more severe.

Still, a two-comma payout after being accused of sexually harassing female staffers and contributors has many shaking their heads.

 O'Reilly’s former boss, Fox News founder and CEO Roger Ailes, got even more when he resigned amid harassment accusations from employees. Ailes walked away last summer with $40 million, the full remainder of his contract.

In 2015, the man who was CEO for United Airlines walked away with a $36.8 million severance package after misconduct. Jeff Smisek resigned after getting caught up in a corruption scandal.

United and Smisek wanted to expand the subway line to New Jersey’s Newark Airport, which would be good for business as a United hub. In exchange, he was accused of adding a flight for political purposes - a direct flight from Newark to South Carolina on weekends, so the head of the Port Authority could visit his second home with ease.

And not only men get to walk away with oodles of cash. In 2015, Sony Pictures executive Amy Pascal got a golden parachute worth $40 million, plus a percentage of movie profits, and another $9 million annually.

What had she done? When Sony’s servers were hacked, Pascal was exposed for sending racist emails insinuating President Obama only liked movies with black actors. She apologized but was sent on her way.

“I’m 56. It’s not exactly the time that you want to start all over again,” Pascal said at the time. “But it’s kind of great, and I have to and it’s going to be a new adventure for me.”

It seems like in some cases, it pays to behave badly.

Copyright 2017 CNN. All rights reserved.

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