Former Wood Group chief executive Bob Keiller was given a £500,000 “golden parachute” when he decided to leave the company last year.
The oil and gas industry boss received a “payment in lieu of notice” of £477,346 when he left the business with “good leaver status” in December.
The payment came two months after Keiller announced he would be retiring from the company.
A spokesman for Wood Group said: “The remuneration policy objective is to provide a compensation package that promotes the long-tern success of the group, and which attracts and retains key
executives while creating an appropriate alignment between incentivised executive performance and the interests of shareholders.”
The annual report had shown that Keiller’s salary had risen 12.5% to £630,000 between 2014 and 2015.
Wood Group said his pay rise had been awarded in January 2014 but deferred for 12months.
Keiller is now chairman of Scottish Enterprise.
He has also revealed plans for a consultancy which could give budding entrepreneurs affordable access to his years of experience.