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The settlement agreement provides, in part:
The Parties acknowledge and agree that the
settlement of this matter and CWRU’s payment
[of $350,000] pursuant to * * * this
Agreement represents the compromise of
disputed claims and compensation to Arnold
Reisman for the resignation of his position
and the relinquishment of his tenure rights
* * *
The settlement agreement also provides, in part:
CWRU’s settlement and payment in no manner
constitutes an admission of any liability to
Reisman, it being expressly understood that
CWRU vigorously disputes and denies each and
every claim asserted against CWRU by Reisman.
No allocation was made in the settlement agreement among the
various claims settled, nor was a specific amount allocated for
Mr. Reisman’s resignation and relinquishment of his tenure
rights. CWRU viewed the settlement as a buyout of Mr. Reisman’s
tenured contract. The university normally buys out a tenured
position at approximately three times the individual’s annual
salary.
In accordance with the terms of the settlement agreement,
CWRU paid petitioners $350,000 on or before December 22, 1994.
Also in accordance with the terms of the settlement agreement,
Mr. Reisman resigned his tenured faculty appointment from CWRU,
effective December 22, 1994. At the time of his resignation, Mr.
Reisman was earning between $92,000 and $100,000 per year
exclusive of benefits.
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