Former Rutgers AD Tim Pernetti To Get $1.2M, iPad, Car Allowance In Settlement
NEW BRUNSWICK, N.J. (CBSNewYork/AP) — Former Rutgers Athletic Director Tim Pernetti is getting $1.2 million in salary, plus an iPad, car allowance and more than two years of health insurance coverage under a settlement agreement.
The Associated Press obtained details of the settlement Monday through an open records request with Rutgers. The Star-Ledger had previously reported some details.
Pernetti resigned last week after a video was made public showing former men’s basketball coach Mike Rice shoving players and berating them with anti-gay slurs. Pernetti suspended Rice last December. The coach was fired last week.
Under his agreement, Pernetti is to be paid his base salary of $453,000 per year through June 2014 and a one-time payment of $679,500 in the next month. He gets the money even if he takes another job.
He also gets his $12,000 per year car allowance through June 2014 and health insurance and pension payments through October 2015.
Pernetti also gets to keep his Rutgers-issued iPad and laptop computer.
Rutgers agreed to represent Pernetti in any lawsuits related to his job as athletic director.
The university agreed not to say anything bad about Pernetti to the media or prospective employers, and Pernetti agreed not to disparage the school publicly, though he is allowed to speak truthfully about the Rice situation. He also agreed to cooperate in any investigations by the school, NCAA or legal authorities.
Rice was fired last week not for cause, meaning that under his contract he is in line to be paid just over $1 million, or 75 percent of his remaining salary, plus a $100,000 bonus for staying on the job through the 2012-13 season.
Rutgers University president Robert Barchi held a town hall meeting at the school’s Newark campus on Monday.
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