Severance and Retention Policy

G7.06 Severance and Retention Policy

The Board of Governors recognizes that recruitment and retention of certain categories of employees require competitive compensation packages which include retention and severance elements.  To facilitate the employment of those employees, which the Board of Governors finds to be in the best interest and in furtherance of the public policies of the University, this policy authorizes any or all of the benefits described for persons employed as President or head athletics coach of the institution.  Those benefits payable after termination of employment duties may include salary retention payments contingent upon a specified length of service or service date; sabbaticals or compensated leave payable after service has ended, contingent upon length of service or service date, including health and life insurance; payoff amounts specified for University termination of employment contracts; and moving expenses.  Such benefits are in addition to any other compensation and benefits which may be authorized during the period of time when the normal duties of the position are being performed, and shall be stated in a written employment agreement available upon appropriate request under the Missouri Open Meetings and Records Law.  This policy shall not be construed as attempting to limit or modify existing contracts or obligations regarding any University employee, or amend tenure and related policies and obligations as may be approved by the Board. (Res. Policies & Procedures No. 73-00; Bd. Min. 6-16-00.)