Jury blocks ex-university president’s $4.5M payment
LONDON, Ky. (AP) – A jury has ruled that the University of the Cumberlands in Kentucky was justified in not honoring a deal that would’ve required it to pay a former president nearly $400,000 in salary and benefits for the remainder of his life.
The Lexington Herald-Leader reports former president Jim Taylor and his wife were seeking a $4.5 million lump-sum payment in a federal lawsuit. Friday’s ruling means the Baptist-affiliated university in Williamsburg doesn’t have to pay.
The lawsuit says trustees approved a deal allowing Taylor to continue receiving pay that he’d gotten as president for the rest of his life, among other benefits. It says the package was worth at least $395,000 annually.
A university attorney says trustees didn’t approve the deal, and a board chairman who signed it didn’t have the authority to do so.