UPDATE: Gogo announced March 5 that Chief Executive Michael Small would be leaving, effective immediately, and would be replaced by long-time board member Oakleigh Thorne. No reason was given for Small's departure; indications are that it was sudden and unpleasant.

Here is Gogo's statement, issued March 6, on Small's separation package -- contingent on his not suing the company:

"Under the separation agreement, Mr. Small will receive (i) a payment of $58,333 in lieu of the requirement to provide 30 days’ notice of termination, (ii) payment of his accrued and unpaid annual bonus for . . .

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