-> I assume she negotiated a large severance pay not as a way of making lots of money, but rather to incentive the board to give her a chance. The game theoris

-> I assume she negotiated a large severance pay not as a way of making lots of money, but rather to incentive the board to give her a chance. The game theorist in me says this is probably correct. I suppose it would be helpful to think of severance pay as a hedge against the downside risk of failure. Still, it does sound kind of awful that she'll get this much money with the company itself having, essentially, negative value.