NEW YORK-Sprint Corp. reported in a Securities and Exchange Commission filing that former president Ronald LeMay will receive approximately $5.7 million in compensation and consulting fees over the next 18 months.
LeMay, who along with former chief executive officer William Esrey, is currently being investigated by the Internal Revenue Service over controversial tax shelters set up by Sprint’s independent auditor’s Ernst & Young, will receive $190,400 per month in consulting service fees from his former employer for the next year to help Sprint’s recently named chief executive officer Gary Forsee during the management transition.
LeMay will also receive six months of outplacement counseling benefits, secretarial support, a $2,500 per month office and will be reimbursed for up to $150,000 in legal fees he accumulated during departure negotiations with Sprint.
