Former Walt Disney Company president Michael Ovitz (R) leaves Chancery Court for a lunch break October 28, 2004 in Georgetown, Delaware.
What does $130 million get you? If you’re Michael Ovitz, the legendary agent who resigned from CAA in 1995 to become president of the Walt Disney Company, it gets you your walking papers. After a brief two-year stint, then-chairman Michael Eisner dismissed Ovitz, who was reportedly also frustrated with his position. Disney shareholders later sued Eisner and Disney’s board of directors for awarding Ovitz the mother-of-all severance packages. But in 2005 a court updeld Disney’s payment.