On June 27, Duke Energy Corp. signed a contract with Bill Johnson, who was supposed to take over as the company’s CEO.

But five days later, and hours after Johnson assumed the position, the company’s board changed its mind, the Wall Street Journal reports. (subscription needed.)

His payout? $44.4 million. 

Despite his short-lived tenure, Mr. Johnson will receive exit payments worth as much as $44.4 million, according to Duke. That includes $7.4 million in severance, a nearly $1.4 million cash bonus, a special lump-sum payment worth up to $1.5 million and accelerated vesting of his stock awards, according to a Duke regulatory filing Tuesday night. Mr. Johnson gets the lump-sum payment as long as he cooperates with Duke and doesn’t disparage his former employer, the filing said.

Under his exit package, Mr. Johnson also will receive approximately $30,000 to reimburse him for relocation expenses.

Mr. Johnson signed the separation agreement Tuesday—less than a week after signing his three-year employment contract. The contract promised a $1.1 million salary, targeted annual bonus of $1.375 million and equity grants worth five times his base salary. He was eligible for severance if he quit for “good reason” within two years of the merger’s closing, the contract stated.