Black & Decker CEO turns down $20.5M severance package:

Black & Decker CEO Nolan Archibald is legally entitled to a $20.5 million severance package because the company's merger with Stanley Works technically calls for his termination. However, Archibald will forgo the package. He will become executive chairman of the combined entity and receive a base salary of $1.5 million a year for the next three years.

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