Tim Pernetti to Receive $1.2 Million in Salary, Two Years Health Insurance, Car Allowance in Rutgers Settlement Agreement

Former Rutgers athletic director Tim Pernetti isn’t leaving the New Jersey school empty-handed.

The school’s AD, who resigned last week in the aftermath of the saga surrounding men’s basketball head coach Mike Rice, is getting $1.2 million in salary — among other payouts and benefits– under a settlement agreement, according to The Associated Press.

Under his agreement, according to documents obtained by The AP, “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.”

But that’s not it. He will also receive his $12,000 per year car allowance for the next 14 months as well as health insurance and pension payments through October of 2015.

As for his Rutgers-issued iPad and laptop computer? They’re his, too.

Yardbarker

Follow

Get every new post delivered to your Inbox.

Join 190,820 other followers