The University of Cincinnati has agreed to pay $900,000 in severance to David Stern, MD, its top healthcare official, according to a Cincinnati Enquirer report.
Dr. Stern, an internist, has been on leave for the last several months as dean of the College of Medicine, vice president for Health Affairs and chairman of UC Physicians. He resigned last week after joining UC in 2005.
The severance agreement includes one year's pay of $601,035, $236,385 to buy out the rest of his contract through 2012 and his tenured faculty spot, along with $60,005 in accrued vacation pay.
Read the Cincinnati Enquirer report on University of Cincinnati.
Read more about healthcare executive compensation:
- North Carolina's Haywood Regional Medical Center Pays Former CEO $150,000, Settles Lawsuit
- Hospital Chief's $873K Salary Tops District List Released by California Controller
Dr. Stern, an internist, has been on leave for the last several months as dean of the College of Medicine, vice president for Health Affairs and chairman of UC Physicians. He resigned last week after joining UC in 2005.
The severance agreement includes one year's pay of $601,035, $236,385 to buy out the rest of his contract through 2012 and his tenured faculty spot, along with $60,005 in accrued vacation pay.
Read the Cincinnati Enquirer report on University of Cincinnati.
Read more about healthcare executive compensation:
- North Carolina's Haywood Regional Medical Center Pays Former CEO $150,000, Settles Lawsuit
- Hospital Chief's $873K Salary Tops District List Released by California Controller