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MUNCIE, Ind. (AP) — Ball State University's severance agreement giving the school president a two-month leave ahead of his resignation follows provisions of his contract allowing for him to be terminated without cause with a 60-day notice.
The reasons for President Paul Ferguson's resignation after less than 18 months remained unclear Tuesday, a day after the university's Board of Trustees approved his departure plans.
Board Chairman Rick Hall tells The (Muncie) Star Press (http://tspne.ws/202ovxS ) that Ferguson offered to resign and called the move a mutual decision.
Ferguson's severance deal gives him a paid, two-month sabbatical leave followed by a year of pay at his base salary of $450,000.
The contract Ferguson signed in 2014 allowed the board to place him on paid sabbatical leave during the 60-day notice period for firing him without cause.
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Information from: The Star Press, http://www.thestarpress.com
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