McDonald’s CEO Says He Shouldn’t Have to Return Severance (1)

Former McDonald’s Corp. Chief Executive Officer Steve Easterbrook said the restaurant chain shouldn’t be allowed to claw back $37 million of stock grants in his severance because the company got the “benefit of the bargain” in negotiating his departure.

Easterbrook –- ousted in November over a sexual relationship with an underling -- complied with the demands in his McDonald’s severance agreement and it would be unfair to make him return what amounts to most of the deal’s proceeds, according to a filing by his lawyer Friday in a Delaware Chancery Court.

“McDonald’s stated purpose for presenting the separation agreement ...