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The latest golden parachute for an outgoing college leader adds up to at least $928,000, the sum Cleveland State University is expected to pay ex-president Harlan Sands, who resigned last week.
Sands resigned abruptly and has already been replaced as president by Laura Bloomberg.
The university has described the decision as mutual, stemming from disagreements over the future of the institution—even though Sands was recently granted a contract extension through 2026. Now, Cleveland.com reports that he’s being paid nearly $1 million as part of a separation agreement that also includes an offer of a tenured faculty position with a $348,000 annual salary.
Sands must move out of the college’s presidential residence by Sept. 5. The college will pay the moving expenses, according to the agreement obtained and published by Cleveland.com.
