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Monday, March 4, 2013

Heinz CEO's golden parachute set at $56 mln, (NYSE: BRK-A), (NYSE: BRK-B)

H.J. Heinz Co Chief Executive William Johnson would receive about $56 million if he gets terminated following the ketchup maker's acquisition by Berkshire Hathaway and 3G Capital, the company said on Monday.In its preliminary proxy statement, the world's largest ketchup maker also said the merger agreement, announced on Feb. 14, has been amended so that restricted stock units would vest in keeping with their existing schedule instead of all at once at the time of the merger.Heinz spokesman Michael Mullen said Johnson's "golden parachute" payment would reflect his success in building shareholder value over his 15 years as CEO."This compensation consists of equity that Mr. Johnson accumulated over his 30-year career with Heinz and existing equity awards and contractual rights that were in place well before the announcement of the proposed merger," Mullen said.

Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 0.13% or $205.0/share to $152955.00. In the past year, the shares have traded as low as $117422.00 and as high as $153739.00. On average, 74085 shares of BRK-A exchange hands on a given day and today's volume is recorded at 974.

Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B fell by 0.1% or $-0.1/share to $101.95. In the past year, the shares have traded as low as $78.21 and as high as $102.33. On average, 4662340 shares of BRK-B exchange hands on a given day and today's volume is recorded at 4314355.



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