Paramount co-CEOs George Cheeks, Chris McCarthy and Brian Robbins will be able to quit and receive severance benefits if they are demoted.

The "Office of the CEO" just got additional bonuses — and the security of knowing that if they're demoted they can take their pay and walk away without a hit.

In a move that will likely come as a relief to the staff at entertainment giant Paramount ($PARA) who lost their jobs, there is some good news for

Chris McCarthy, George Cheeks, and Brian Robbins -- will be able to resign and receive severance payments if their new responsibilities are "substantially inconsistent" with their roles as co-CEO's or

Paramount Global's board has approved awarding the previously declared annual bonus payments for its three co-CEOs even if they are no longer at the helm, according to a filing on Tuesday.