Knoxville — The University of Tennessee Board of Trustees Audit and Compliance Committee has approved a separation agreement with Beverly Davenport, the former UT Knoxville chancellor who was demoted in May.
A committee of the UT Board of Trustees -- the Audit and Compliance Committee -- voted unanimously in favor with one member absent on the agreement at noon on Tuesday.
UT System President Joe DiPietro fired Davenport from her position as chancellor on May 2, citing a lack of communication and organization skills.
Davenport was on administrative leave with pay until June 30, but per the terms of the agreement Tuesday her employment ends on June 5 and she will be paid $1.33 million in separation payment.
Before the separation agreement was approved, Davenport was set to begin her tenure as a professor in the College of Communications with a salary of $438,750.00 for four years on July 1.
According to the action item sent to the committee from the Board of Trustees, "The President has decided that an amicable resolution of a claim by/potential litigation with Dr.
Davenport is in the University’s best financial and other interests."
In accepting the agreement, Davenport also releases any legal claims against the university and will agree not to seen reemployment with the UT or the State of Tennessee.
The agreement also says that no taxpayer dollars, no student tuition or fees, and no donor funds will be used to fund the separation payment. It's not clear where the money to pay for her separation will come from at the moment.
According to UT, the $1.33 million payment was a 'significant reduction' of the amount the university would have been contractually obligated to pay Davenport had stayed onboard in her tenured faculty position -- which it said would have been about $2 million in salary and benefits in the first four years of her faculty appointment.
The Vice Chair of the Board of Trustees recommended that the Audit and Compliance Committee approve the agreement.
According to its website, the Audit and Compliance Committee is responsible for the integrity of the University’s annual financial statements, the University’s compliance with legal and regulatory requirements, knowledge of all auditing activities, oversight and direction of internal auditors, and monitoring of compliance with university policies and procedures.
