My common sense tells me that if a bloke resigns from a job as...

My common sense tells me that if a bloke resigns from a job as detailed in the letter (Mr Thorburn has resigned and will finish at NAB on 28 February 2019. In accordance with hiscontractual entitlements, Mr Thorburn will receive payment of $1,041,449 in lieu of 26 weeks’notice, along with accrued leave entitlements), he shouldn't receive a payment in lieu of notice. One of three things here:
1. His contract was terminated by the Board but NAB has softened the blow by describing it as a resignation.
2. He resigned, and lets be clear here not due to ill health or personal reasons but rather his inability to lead NAB as its CEO.
3. His contract was so generous/lax that it contained this payment for an early resignation.
A >$1million dollar failure by the Board and particularly the Remuneration Committee (which should have been replaced immediately following the vote against its report at the AGM).
Suggestion: the cost incurred in the the search and appointment of a new CEO should be deducted from Thorburn's payment.