The documents show that Atkins severance package is much more modest than what many high-level executives get when they leave their companies, even ones like AmeriVest, which hasn't been performing of late. Indeed, AmeriVest is going through a restructuring that may result in a sale, a joint venture merger, or going private.
According to the SEC documents, under his "Severance Agreement and Release," Atkins will receive his regular compensation for five months, as of May 1. In addition, the 34,800 shares of unvested portion of his restricted shares due to Atkins under the company's long-term incentive plan will automatically vest.
Atkins also will be entitled to continued use of his existing or a similar office designated by the company at the Sheridan center property in Denver at no charge for one year, starting on May 1.
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