Former ports chief Bernard Groseclose will receive $132,000 in severance pay and up to $4,000 for health insurance under the terms of a separation agreement he signed Friday.
He will also get a free trip overseas to attend a business conference.
Groseclose’s employment agreement, signed Dec. 30, 1998, calls for him to receive a severance payment of half of his annual base pay upon his resignation. He was making about $264,000.
Groseclose will receive the first $66,000 of his severance pay on Wednesday, the day he officially resigns, as spelled out in the separation agreement. The remaining $66,000 will be paid to him in installments of $13,200 on the first day of each month between April and August.
Let's review the facts - he fails miserably, he quits before he gets fired and gets rewarded with a great vacation and a severance package that is worth what several South Carolinians combined would earn. Most people who quit most jobs under such circumstances are lucky to get enough time to pack their stuff and a neutral employment reference.
If anyone has a logical explanation for this, we'd love to hear it.