American Equity Investment Life Holding Co. this week disclosed details of a separation agreement it reached with its former chief financial officer, Ted Johnson. The West Des Moines-based publicly traded company had announced on May 24 that Johnson would no longer serve as CFO, effective that date, and that CEO Anant Bhalla had taken on CFO responsibilities and that the company would be working toward an orderly transition until later in 2021 when Johnson would exit the company. According to a filing by the company on Monday with the Securities and Exchange Commission, a June 20 separation agreement provides that Johnson will separate from American Equity effective July 16. Subject to Johnson’s “successful participation in a transition plan and entry into another release following the end of his employment,” the company agreed to pay Johnson his base monthly salary of $47,750 per month through next May — a total of $573,000 — plus an incentive payment of $501,375. He’ll also get $15,000 toward continuation of health coverage, and up to $15,000 for outplacement services, all net of withheld taxes. He’ll also retain various stock options. The agreement includes “various other provisions beneficial to the company,” among them an 18-month non-solicitation of company employees, contractors and others, an 18-month noncompete agreement limited to specific firms, and a non-disparagement agreement between Johnson and AEL’s officers and directors that says both sides agree not to disparage the other. Both sides have also agreed to maintain confidentiality about the agreement.