The battle between Wal-Mart and Coughlin has finally ended.

You may recall that Coughlin embezeled from the company, was fired, and convicted of stealing from Wal-Mart. And after all that, he pushed to keep his retirement package of more than $17 million. Now you may be thinking "wow, this guy stole from the company AND he wants millions in retirement benefits, what gall!" You'd be right, but Wal-Mart just settled with Coughlin and will cough up $6.7 million.

I guess Wal-Mart can afford millions for a former executive who stole from them, but paying their hard working hourly associates a little more? Or providing affordable health care for them? That is simply out of the question.

Here's the article from The Morning News:

BENTONVILLE - Tom Coughlin settled with Wal-Mart for $6.75 million Thursday, minutes before jury selection was to begin in a lawsuit the retailer filed to void a 2005 retirement agreement worth more than $17 million to the former executive.

Terms of the settlement won't be released for 20 days, by court order, but the retailer filed a report with the U.S. Securities and Exchange Commission on Thursday afternoon disclosing the payout amount.

"Mr. Coughlin will forego all outstanding rights and claims under the Retirement Agreement, as well as any additional unpaid or withheld benefits ... estimated at a value of approximately $17 million, not including health benefits," the filing stated.

Coughlin is satisfied with the outcome, although he was looking forward to his day in court, attorney Tim Brooks said shortly after the mid-day settlement announcement.

Wal-Mart attorneys wouldn't speak to reporters, but a spokeswoman issued a brief comment Thursday afternoon. "We are satisfied the settlement is fair to both parties and we are ready to put this one behind us," said Daphne Moore.

Carl Tobias, a civil litigation specialist at the Richmond School of Law, said Thursday he wasn't surprised the case settled, as neither side would gain from trial publicity. He called the payout amount reasonable.

"When you go to trial, it's always risky. I'm sure the Wal-Mart lawyers would have been good, and aggressive, and may have new information," Tobias said. "That sounds like a lot of money in the abstract but, if I were he, I'd feel pretty fortunate - given that he pled to the criminal charges."

Questions that remain include whether Coughlin will receive health benefits, and who will pay two years' worth of attorney fees. Coughlin's reported poor health led a federal judge to sentence him to home confinement, rather than prison.

Wal-Mart filed the fraud, misconduct and breach of fiduciary duty lawsuit in 2005 in Benton County Circuit Court, attempting to void the retirement agreement made with Coughlin, now 59, when he ended his 28-year employment in January 2005.

An internal investigation uncovered years of fake invoices and expense accounts for items ranging from all-terrain vehicles and hunting club memberships to a taxidermy bill for stuffing a wild boar for Coughlin.

Results of that internal investigation were forwarded to federal authorities and led to a criminal conviction in U.S. District Court.

Coughlin is serving a 27-month sentence of home confinement and was ordered to pay $411,218 in restitution to the company and a $50,000 fine.

As executive vice president, Coughlin was earning more than $4 million annually in salary and bonuses. He was vice chairman of the board of directors and reported to Lee Scott, president and chief executive officer.

The retirement deal promised medical care until age 65, millions of dollars in transition payments, and 186,407 shares of restricted stock Coughlin otherwise would have forfeited, according to the suit.

Coughlin maintained rights to the retirement deal, which was drafted by Wal-Mart attorneys and released both parties from liability for claims related to Coughlin's employment, "whether known or unknown."

Jury selection in the civil trial was to begin at 1 p.m. Thursday. The settlement was announced minutes before, and prospective jurors were turned away from the courthouse steps.

For three hours Thursday morning, Coughlin sat at a courtroom conference table with attorneys Steve Vowell and Tim Brooks. Coughlin's wife, Cynthia, and daughter were also in the courtroom, which was otherwise empty. His other two attorneys, Bill Putman and W.H. Taylor, went in and out of the courtroom throughout the morning.

Coughlin and his family left the courthouse about 12:30 p.m. He moved slowly, which Taylor attributed to recent surgery to have both knees replaced.