Dell's Ex-CEO To Get $5 Million Severance

this 8-K filing

Until May 4, Dell said, Rollins will still be paid full salary as an "advisor" to the company. The agreement itself includes a non-compete.

Paragraph 7 of the deal comes with this language, as well:

Dell currently faces at least two shareholder class action lawsuits, and is under investigation by the SEC and the U.S. Attorney for the Southern District of New York. The federal investigators are looking into the possibility that Dell misstated its financial results and other accounting issues.

The separation deal also requires that Rollins, essentially, say nothing publicly that would disparage his old company.

His $5 million severance will be paid in five, equal installments between May 4 and April 15, 2008.