Hardin paid off | Arkansas Blog

Friday, March 20, 2009

Hardin paid off

Posted By on Fri, Mar 20, 2009 at 2:54 PM

UCA has announced it has completed payment of the buyout of former President Lu Hardin's contract.

UCA NEWS RELEASE

UCA completes severance payment to Hardin

CONWAY, ARK. -- The University of Central Arkansas and its former President Lu Hardin executed an agreement today pursuant to which Hardin's lump sum severance amount was reduced to $585,169.51.  The severance was paid to Hardin, after appropriate withholdings for state and federal taxes, and was delivered to him today.

All funds used to make the severance payment came from private sources contributing to the University of Central Arkansas Foundation, Inc.  The UCA Foundation delivered the funds this morning to the University.

UCA will continue to pay Hardin through June 30, 2009, for his monthly payments for sabbatical leave granted by the UCA Board of Trustees in September 2008.  Today's payment completes the University's obligation to make a severance payment.

An executed copy of the agreement here.

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