In the “mutual agreement” made public Tuesday between Scott Scarborough and the University of Akron board of trustees, the former president has two options after receiving 120 days of pay: teach at the school for five years or take another 12 months of full pay and benefits.
With Scarborough’s whereabouts unknown, it’s unclear whether Scarborough intends to join UA faculty in the College of Business and earn nearly $1.5 million through 2021 or take the extended severance package, each afforded him in the labor contract he and trustees signed in July 2014.
The mutual agreement gives Scarborough until Sept. 27 to vacate the president’s residence. In the next 120 days, Scarborough will continue to receive full benefits and monthly pay based on his annual salary of $450,000.
There’s no indication that Scarborough has accepted, or was eligible for, a performance bonus during his nearly two years at UA. Nor has the board of trustees released a performance review or stated that one was conducted.
Scarborough said in a letter that he will step down as president effective Tuesday. The letter, scant on details of the separation agreement, does not say whether he will pursue a larger severance package or stay on to teach business. According to the letter and his labor contract, both options are available because the board of trustees did not list a cause for ending his employment.
Causes for termination, detailed in a section of the contract referenced in the mutual agreement letter, include any conduct “that would tend to bring public disrespect, contempt or ridicule upon the university.” Other causes include misappropriating funds, being convicted or pleading guilty to a felony or having a prolonged absence.
Scarborough can take an additional 12 months of pay and benefits in 120 days.
A second option is to become faculty. He would work nine months out of the year at the highest salary among tenured faculty in the College of Business or 65 percent of his current salary, which would be $292,500 — $47,915 more than the business college’s dean made last year. The teaching contract would last five years.
“It’s my understanding that [Scarborough] has not made a decision on those two options,” school spokesman Dan Minnich said.
Regardless of which option Scarborough pursues, the university must pay him for unused vacation days and $15,000 so he can move out of the president’s house.
Doug Livingston can be reached at 330-996-3792 or firstname.lastname@example.org. Follow on Twitter: @ABJDoug.