An employment agreement Simon signed in late 2012 guarantees a host of post-presidency benefits that kicked in with her resignation. The university on Thursday provided the agreement to The Detroit News. (at link)
Simon was earning a $750,000 base salary and a $100,000 annual retention bonus under a 2014 amendment approved by the Board of Trustees. According to the agreement, her resignation is not official for at least 60 days, a period during which she must continue to fulfill her duties and cooperate in the transition to a new president.
If she chooses to return to the faculty after her presidency, Simon could again earn her full $750,000 salary during a one-year research leave. She could earn the full salary for another year as a faculty member, and then 75 percent of that in subsequent years, or $562,500 annually.
The agreement guarantees several other lifetime perks for Simon and her husband, including:
■Two free tickets to home football games in the Spartan Club on the 4th floor of the Stadium Tower
■Tickets for bowl games and post-season play for football, men’s and women’s basketball, and ice hockey, and tickets for performances on campus
■The option to purchase up to four season tickets for men’s basketball with the same or comparable location provided to her during the 2009-10 season
■Two free tickets to home women’s basketball games in a seating location comparable to the men’s games, and two free courtside tickets for women’s volleyball
■A parking pass for each home football game, home men’s and women’s basketball game, and home ice hockey game
■Two free all-event and all-location driving and parking passes as were available to her as president
The agreement requires the university to refer to Simon as President Emeritus upon resignation. She and her husband will continue to be provided technical computer support and access to all university computer services, including voicemail.
If she returns as faculty, the university would also be required to provide Simon with a suitable office, secretarial services, computer, technology, support and other office tools.
http://www.detroitnews.com/story/ne...u-simon-resignation-contract-perks/109803500/