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Posted April 8, 2013 by DJ Enuff in Sports
 
 

Breaking News: Rutgers Former AD Pernetti Gets $1.2 Million & Car With Settlement?!

Tim Pernetti Rutgers

Under his agreement, Pernetti is to be paid his base salary of $453,000 per year through June 2014 and a one-time payment of $679,500 in the next month. He gets the money even if he takes another job.

He also gets his $12,000 per year car allowance through June 2014 and health insurance and pension payments through October 2015.

Pernetti also gets to keep his Rutgers-issued iPad and laptop computer.

Rutgers agreed to represent Pernetti in any lawsuits related to his job as athletic director. – nypost

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he NJ Rutgers athletic director Tim Pernetti was forced to resign late last week after coach Mike Rice abusive actions towards players tapes went viral! Pernetti was caught in a tight spot for hiring Rice and not disciplining him properly for his abusive actions towards players, but also helped Rutgers switch from the Big East to the Big Ten! The switch to the Big Ten media deal stands to increase revenue from $3 Million to $40 Million from 2014-2017! Under a new settlement agreement which broke earlier today, Pernetti will get $1.2 Million in salary, a car allowance, an I-Pad, and more than two years in health insurance! Check out details above!