The separation agreement, which still hasn’t been signed, spells out what McEvoy will receive when he leaves the hospital May 4.
The terms agreed to in principle include up to $20,000 for “outplacement,” which is help in finding a new job, and giving him the title to a 2007 Toyota Camry Hybrid with 45,000 miles.
The car, which McEvoy has used as CEO, is valued at $15,765.
The payout also includes $71,167 in paid time off.
The other terms are:
– 18-months severance $ 1,005,000
– 18 months COBRA (health, dental) $ 25,794 Employer contribution only
– PERA (accrued, non-vested) $ 18,733 Prior to 1/1/11, an employee didn’t need to be vested to get the organization’s
contribution (4% of annual pay up to $250,000/year), so calculation is based on 4% of annual pay up to $250,000 between 1/1/11 – 5/4/12.