Penn State’s former president to receive $3.3 million in compensation for 2011
(MCT) — PHILADELPHIA—Pennsylvania State University’s former president, Graham B. Spanier, will receive nearly $3.3 million in compensation for 2011, including a $1.2 million severance payment following his forced resignation that year, the university said Wednesday.
Officials said the severance payment and $1.24 million in deferred compensation earned over his 16 years as president were required under Spanier’s 2010 employment agreement.
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