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Executive Paid to Leave Job

An Iowa State University Foundation executive says its former president received 18 months of severance pay, or more than $400,000, as part of an agreement to leave.

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Reporter: Associated Press

An Iowa State University Foundation executive says its former president received 18 months of severance pay, or more than $400,000, as part of an agreement to leave.

Dan Saftig resigned in March. The foundation said his departure came as ISU's new president, Steven Leath, shaped his leadership
team.

Foundation spokeswoman Lisa Eslinger told the Ames Tribune that Saftig received 18 months of severance. She declined to release the exact amount, but the newspaper says based on fiscal 2010-11s earnings of $275,000, Saftig received $414,000.

Board Chairwoman Marla Franklin says the settlement was funded
through the foundation. She says the board voted to remove Saftig
after they were approached by Leath.

Saftig declined to comment on his exit.