Spokeswoman: Armey's $8M Golden Parachute 'Not FreedomWorks's Dollars'

Spokeswoman: Armey's $8M Golden Parachute 'Not FreedomWorks's Dollars'

The Associated Press reported Tuesday that Dick Armey agreed to submit his resignation as chairman of FreedomWorks at the end of November only on the condition that he receive a lucrative $8 million golden parachute:

A confidential contract obtained by The Associated Press shows that Armey agreed in September to resign from his role as chairman of Washington-based FreedomWorks in exchange for $8 million in consulting fees paid in annual $400,000 installments. Dated Sept. 24, the contract specifies that Armey would resign his position at both FreedomWorks and its sister organization, the FreedomWorks Foundation, by the end of November.

According to the contract, Armey’s consulting fees will be paid by Richard J. Stephenson, a prominent fundraiser and founder and chairman of the Cancer Treatment Centers of America, a national cancer treatment network. Stephenson is on the board of directors of FreedomWorks.

FreedomWorks Director of Communications Jackie Bodnar told Breitbart News this $8 million agreement is “not a FreedomWorks contract. It’s not FreedomWorks’s dollars.” She added that this is “a private contract between two individuals.”

Breitbart News contacted the headquarters of Cancer Treatment Centers of America, where Richard J. Stephenson is the Chief Executive Officer. Through his spokesman, Vice President of Public Affairs Pamela Browner White, Stephenson refused to comment. “Mr. Stephenson will not be commenting to the media on this,” Ms. White told us.  When asked to confirm the Associated Press report that Mr. Stephenson was paying Armey $8 million, she said, “I cannot confirm the details.”