Agreement Details Severance For Ball State's Ferguson

Posted: Updated: Jan 27, 2016 09:12 AM
Ferguson appeared on Inside INdiana Business Television mid-2015. His contract began with the school in August 2014. Ferguson appeared on Inside INdiana Business Television mid-2015. His contract began with the school in August 2014.
MUNCIE -

A severance agreement between outgoing Ball State University President Paul Ferguson and the university offers some insight into what's next for both parties, but it does not elaborate on reasons for the decision to part ways. Ferguson could receive a total of nearly $500,000 over the course of a year under terms of the deal.

The contract says March 25 will be his final day at Ball State. The document also says Ferguson has agreed that the decision to resign is "irrevocable" and that during his two-month leave, the search for the next president will begin. The board of trustees sent a notice to staff members Monday saying it has accepted Ferguson's resignation following a two-month, board-approved sabbatical. The news came as a surprise, as Ferguson has time remaining on his current contract and had been on the job less than two years.

Financial details include:

  • A $450,000 severance payment that will be made over 12 months
  • Nearly $22,000 for unused vacation days
  • Close to $15,000 for a year's worth of future insurance premiums

It stipulates that if Ferguson is hired for a senior-level position in higher-education while the severance agreement is in effect, Ball State's obligation would be reduced based on the compensation and benefits he would receive from the new institution.

The agreement does not outline reasons for what it says is a mutual decision to part ways and says discussions that led up to the decision will be kept "strictly confidential" by both Ferguson and the university. The document also states Ferguson has agreed he has not engaged in actions that would amount to the contract ending for "cause."

A letter of recommendation from the university for Ferguson was also attached and includes professional highlights relating to his time in office such as:

  • A "refreshed university vision and planning process," The Centennial Commitment 18 by '18, in advance of the university's 100th anniversary celebration in 2018.
  • Overall increases in enrollment to nearly 21,200 students, up 2.6 percent according to the document
  • A role in what the university says is the highest percentage of increase for graduation rates over five years, 12 percent, among all public universities in Indiana
  • Managed more than $200 million in construction projects

You can connect to a copy of the agreement and attachments like the board of trustees' public statement and school's letter of recommendation for Ferguson by clicking here.

  • Perspectives

    • The First Thing Nonprofit Boards Should Focus On: Member Engagement

      There is no shortage of literature on how to run a nonprofit and what the board of directors should be doing. Do a quick search for “grant writing advice” or “board meeting agenda” and you will easily find hundreds of resources. But if there is so much helpful information around, why is serving on a nonprofit board sometimes so draining? After founding two nonprofits, Musical Family Tree and the Speak Easy, as well as serving on several nonprofit boards...

    More

Events



  • Most Popular Stories

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years. 

    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • Elanco is headquartered in Greenfield.

      Elanco to Acquire Bayer AG Animal Health Business

      Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has entered into an agreement with Bayer AG (ETR: BAYN) to acquire its animal health business in a deal valued at $7.6 billion. If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue. “Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings...