John Emery, the former chief executive officer of Great Wolf Resorts who said last week he was leaving the Madison company, will receive a more than $800,000 severance package.

According to a filing Wednesday with the U.S. Securities and Exchange Commission, Emery, who joined the company in 2003, will be paid $825,000 on Friday. The severance package also includes a one-year non-compete clause, prohibits Emery from making disparaging comments about the company and provides that if he is needed for consulting on company matters, he will be paid $750 per day.

On Monday the company, which through its subsidiaries and affiliates owns and operates 10 resorts in the U.S. and Canada and has two others either planned or under construction, said it had settled a proxy fight involving three large shareholders who wanted to be elected to the board of directors.

Under that agreement, Eric Hovde and Richard Murray will be included on the company's slate of director candidates, along with a third nominee "reasonably acceptable" to Hovde Capital Advisors at the annual shareholders meeting on May 28.

Hovde, chief executive of Hovde Capital Advisors, was one of the forces behind a group called the Concerned Great Wolf Stockholders Committee which was upset with the performance of Great Wolf and was calling for a thorough review of the company's finances and executive pay packages.

— Barry Adams