Schools
MD Gazette: No ‘Golden Parachute’ for Smith at AACC
The community college will pay the outgoing school president an annual salary to stay on as a consultant instead of a balloon payment after her retirement.
The Maryland Gazette reports today that according to the official contract outgoing President Martha A. Smith signed with the Board of Trustees in June, she would receive $703,000 to work as a consultant for five years after she retires next summer.
This differs from that she would also receive $692,000 for unused sabbatical leave to stay involved in the college after she steps down.
The Gazette is saying that details of the agreement “contradict weeks of statements by top college officials about Smith’s post-retirement compensation.”
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