Boca Raton-headquartered Office Depot has paid millions of dollars in severance to departing executives in the past year, as the company's latest CEO, Gerry Smith, replaces top leaders. While former executives typically receive severance and bonuses related to their employment agreements, Office Depot's proxy statement to shareholders for its annual meeting on Friday includes an unusual amount of detail on what has been paid to departing executives, and incentive compensation for Gerry Smith, who became CEO in January 2017.
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