(Appeal number 900/2008): The parties agreed that if the employment contract of an executive director were to be terminated by any reason, except for disciplinary dismissal, the senior executive would be entitled to receive a severance payment of 45 days salary per year of services, with the applicable tax deductions already made. In other words, the parties agreed to a net severance payment.

The SC held that this agreement was null and void. Such an agreement that provides for a net severance payment is an agreement contrary to Spanish legislation, as the company withstands the employee's tax obligations. This does not only impact the employee but also the company because it means that the latter has infringed its withholding obligation. Consequently, "golden parachutes" must be stipulated in gross figures.