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Gee’s $5.8 million exit strategy

COLUMBUS, Ohio – Ohio State University has announced a $5.8 million retirement package for former president Gordon Gee following his departure from the university after comments jabbing Roman Catholics and Southeastern Conference schools.

The five-year contract with Gee includes a one-time payment of $1.5 million and an annual salary of $410,000.

It also gives him a $300,000 annual grant for research on 21st-century education policy and retains him as a full professor in the university’s College of Law.

At the request of Gov. John Kasich, Gee spearheaded two state commissions that developed new models for colleges and universities.

Under terms of the contract, which still must be approved by the Board of Trustees:

– Gee is granted the office and title of president emeritus of the university.
– He shall retain tenure as a full professor in the Moritz College of Law. For each year from July 1, 2013 through June 30, 2018, the university will pay Gee an annual base salary of $410,000.
– For each year from July 1, 2013 through June 30, 2018, the university will provide him with an annual grant of $300,000 in connection with his research on 21st century education policy.
– If Gee remains for the full five years, the university will make an additional one-time payment of $1.5 million, “which releases the university from previous contractual obligations such as deferred compensation, and supplemental executive retirement plan compensation,” university officials said in a release Monday.
– The university will contribute a one-time payment of $800,000 to the University’s Retirement Continuation Plan.

Gee, 69, retired July 1 after The Associated Press first reported remarks he made to the university’s Athletic Council in December. Those comments included remarks critical of Notre Dame, the Big Ten and the University of Arkansas football coach.

Gee served two terms as Ohio State’s president, from 1990-1997 and October 2007 until July.

-Photo courtesy The Ohio State University

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