Officials said the nominee was apparently concerned by news reports that seemed to question the propriety of the severance agreement.

Since then, he has been negotiationg the terms of his severance agreement.

It was not clear how much the White House knew about the severance agreement.

He added that the company did not view the severance agreements as valid.

At other companies, executives who quit their jobs have returned stock as part of severance agreements and received no money directly in return.

And this figure does not include Sir Phillip's severance agreement, which is still being discussed by the board.

But there's an increasing use of these as part of severance agreements.

Under his severance agreement, he could be entitled to as much as $25 million.

Companies as well have a vested interest in drawing up airtight severance agreements.

It is scheduled to meet on Monday to discuss the proposed severance agreement and other issues.