By Reuters
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LONDON - Britain's biggest sportswear retailer, JD Sports Fashion, said on Wednesday it has reached an agreement with former longstanding executive chairman Peter Cowgill who was ousted from the business in May.
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JD said that for the period to May 25 Cowgill has been paid his salary, benefits and will be eligible for any annual bonus on a pro rata basis. It will also honour Cowgill's notice period of 12 months.
The retailer has also struck a three-year consultancy agreement with Cowgill that will pay him 2 million pounds ($2.3 million).
($1 = 0.8803 pounds)
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