WASHINGTON (Dow Jones) ? Quanta Capital Holdings Ltd. said Monday that it signed a $3 million separation pact with its former chief executive, Tobey J. Russ.

The embattled insurance company also said that it would pay Russ about $105,000 for unpaid vacation and payment in lieu of notice, according to a filing with the Securities and Exchange Commission.

The company announced last November that Russ resigned as chief executive and as a director of the company.

No reason for Russ' resignation was given in Monday's filing.