The largest severance package for a departing business executive was negotiated by Jack Welch (USA) in anticipation of his retirement from multinational conglomerate General Electric on 30 September 2001. The total package – which included a multi-million dollar annual pension, a significant consulting retainer, and the lifetime use of company perks such as a private jet, a personal chauffeur and a luxurious Manhattan apartment – was valued by GMI Ratings at $417 million.The details of the package were revealed in court documents filed during Jack Welch's 2002 divorce from his wife Jane. Following a public outcry, Welch agreed to relinquish some of the more extravagant aspects of the deal, such as unlimited use of the company's Boeing 737 jet and hospitality boxes at sporting and cultural events.