Tutor Perini Finalizes Executive Severance Agreement

Tutor Perini (TPC) has shared an announcement.

Tutor Perini Corporation has finalized a Separation Agreement with Michael F. Smithson, its former Executive VP of the Civil Group, following his departure from the company. Smithson will receive severance payments totaling $1,050,000, a cash payment of $900,000 equivalent to his target annual bonus, and up to 18 months of paid COBRA premiums for health benefits. This substantial payout underscores the high-stakes nature of executive movements within the financial markets.

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