T-U: FSCJ retains attorney to discuss Wallace's employment | News
JACKSONVILLE, Fla. -- Florida State College at Jacksonville is looking at what it would cost if President Steve Wallace leaves his post, according to our Florida Times-Union news partner.
New FSCJ Board Chairwoman Gwen Yates has authorized trustee Jim McCollum to discuss Wallace's employment with attorneys, according to the Times-Union.
A board meeting originally scheduled for Friday to discuss "employment matters" was postponed Thursday night according to an email First Coast News received from FSCJ.
The email states that Henry Coxe, a prominent Jacksonville attorney, has been retained to advise FSCJ.
Coxe is a former president of the Florida Bar and a partner at the Bedell firm.
The Times-Union has been researching Wallace's contract. According to the Times-Union, Wallace would receive $362,160 if we were to be terminated with cause. If a voluntary termination were reached, that number would jump to $796,313.
The T-U also cites another possible scenario that would pay out a total departure package of $851,000 to Wallace.
Wallace has come under fire in recent months for a series of issues at FSCJ ranging from the misappropriation of Pell Grants to a questionable internal video that pokes fun about college spending.
Last week, MGT of America, released an independent study of the college along with 16 recommendations.
The Special Meeting of the District Board of Trustees has been rescheduled for Tuesday, Oct. 9 at 10 a.m.
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