Hayward will resign with no Golden Parachute

Sources within BP tell Beyond Horizon that CEO Tony Hayward's resignation is all but official and that he will barely get a year's severance pay, about $1.6 million, modest compared to many of today's Golden Parachute deals.

But the source says that Hayward and his representatives are pushing to boost the deal, citing his 28 years with the company, and hope to secure a package worth at least $10 million when he exits and up to $20 million over time.

"The board is trying to finalize the package today and expects to do so," said the source, via email earlier today.
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