Departing New Mexico State University President Barbara Couture will be paid nearly $454,000 when she leaves her post in January.
That's on top of the salary she'll earn while on paid administrative from now until she officially leaves at the end of the year. At an annual salary of $392,700, she'll earn about $100,000 for the next three months leave.
The state Board of Regents accepted Couture's resignation in what board Chairman Mike Cheney described as a mutually agreeable separation on Monday.
The Albuquerque Journal reports regents didn't provide any specific reasons for Couture's resignation and didn't mention the payout. A settlement agreement was later emailed to the media.
Regents plan to appoint an interim president by Oct. 15. The search for a new president will begin immediately.