![dek](https://content.time.com/time/photoessays/2008/golden_parachutes/parachute_kilts.jpg)
James Kilts wasn't fired from The Gillette Co., he just lost his job. When Procter & Gamble absorbed Gillette in 2005, the CEO position was made redundant. So Kilts took a $165 million payout, plus another $13 million to cover the transaction's resulting taxes. Suddenly, unemployment didn't seem so bad.