Key Separation Terms for President Spellings**

 

Separation Date

March 1, 2019, with salary and benefits, including regular
executive retirement contribution of $77,500.

Separation Payment
$500,000 reflecting acceleration of research leave provided for
in the existing employment contract and projected performance
bonus.
Relocation Expenses

$35,000

Outside Board Service
The President may begin service on an outside board beginning
January 1, 2019, consistent with the existing employment
agreement.
Additional Terms

Agreement not to recruit employees and mutual release.

 
**All amounts payable from non-state funds.
 

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