Virgil Watson Jr will get a pretty handsome separation package, including six months salary, after leaving his job last week as CEO of South Central Medical Center… that according to the agreement reached by the board of trustees yesterday. Watson served as CEO since January 2015, but last week, following a private meeting between he and the trustees, who are also the city commissioners, Mayor Dan Jurcovich said Watson had retired and was not coming back to work the next day. According to his contract, Watson could be fired with or without cause. However, that same contract also specified that if he was terminated without cause, he would be entitled to six months severance pay. In the end, Watson will get that six months of severance pay, plus 224 hours of paid days off incuding accumulated vacation and sick leave. His contract called for him to be paid an annual salary of $110,000 plus benefits, including 112 hours per year of paid days off. That means that now Watson gets…. according to the separation agreement…. a total of $66,846. Broken down, it means $55,000 in salary and $11,846 in paid time off. Jeff Bowman will now serve as interim CEO at a rate of $9,000 per month for six-months, and he will serve on a month-by-month basis as needed at the expiration of that contract. No benefits are included in his agreement.
Source: VNC News