Donnie Weeks is retiring from his role as CEO of Camden, S.C.-based KershawHealth in January, and he will be receiving $524,000 from the system to compensate for unused paid time off and early retirement, according to a WIS report.
WIS received a copy of the transition agreement between Mr. Weeks and KershawHealth. The agreement stated Mr. Weeks would receive all compensation and benefits from now until he retires in January, and incentive pay for the year would be determined after Sept. 30.
Because Mr. Weeks decided to retire "prior to the conclusion of the contract term," both parties agreed to pay him the $524,000 lump sum by his last day, according to the report.
In addition to the buyout, Mr. Weeks agreed to be available to consult with KershawHealth during its CEO transition.
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