Dive Summary:

• The amount paid to Krenicki is dependant on him sticking to his non-compete clause for the next three years.
• Prior to leaving General Electric two years ago, Krenicki was a vice chairman and head of the company’s energy business; his working salary was $1.4 million before bonuses.
• Krenicki will be working as a senior operating partner at Clayton, Dubiller & Rice LLC, a private equity firm that buys out companies and attempts to improve their performance.

From the article:

John Krenicki, who led Lawrence Park-based GE Transportation from 2000 to 2003, has left the General Electric Co., but he'll still be collecting a check.

A pretty substantial one, by most standards.

Krenicki, who was a vice chairman and head of the company's energy business when he left GE two weeks ago, will receive $89,000 a month for the next 10 years. The payment, according to a report in the Wall Street Journal, is being called a retirement allowance. ...