Texas will pay former AD Steve Patterson nearly $3 million in settlement
Texas will pay former athletic director Steve Patterson nearly $3 million as part of a severance package following his forced resignation in September.
According to records released by the school, Patterson will receive about $1.48 million through the end of January and $1.52 million next year. He’ll also will have insured paid for the next 12 months and will receive a lump sum for unused vacation and holidays. He’ll also receiver $200,000 for two performance incentives he achieved in 2014-15.
The agreement states that Patterson cannot sue the university and also states that any communication by one party regarding either Texas or Patterson will "impair the good will, business reputation, or good name of the other party."
The agreement in its entirety is below:
Agreement and Release - UT Austin-SPatterson Eff 9-24-2015 (Fully Executed) PDF
For more Texas news, visit Orangebloods.com.
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