TOLEDO, Ohio (AP) — The University of Toledo's president is set to receive $1.3 million in salary and bonuses over the next three years after he steps down at the end of this month.
The school's board of trustees agreed to pay Lloyd Jacobs while he is on a yearlong leave and allow him to return as a professor in the university's department of surgery.
Jacobs announced just over a week ago that he will leave his post at the end of June. He says that over the next year he take an unpaid position with a global economic development organization that's based in Washington, D.C.
The Blade newspaper (http://bit.ly/1v6G1fN ) reports the school also will give Jacobs travel expenses and allow him to live at the university's presidential home over the next year.
Information from: The Blade, http://www.toledoblade.com/