Sec. 3.5. Unless a provision in a contract between the governing body of a school corporation and an assistant superintendent entered into or renewed before July 1, 2019, provides otherwise, the governing body of a school corporation may not pay to an assistant superintendent to buy out a contract entered into between the governing body and the assistant superintendent an amount that exceeds an amount equal to the lesser of:

(1) the assistant superintendent’s salary for any one (1) year under the contract; or

Terms Used In Indiana Code 20-28-8-3.5

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) two hundred fifty thousand dollars ($250,000).

An assistant superintendent’s salary under subdivision (1) does not include benefits or any other forms of compensation that the assistant superintendent receives as payment under the contract other than the assistant superintendent’s salary.

As added by P.L.152-2019, SEC.4.

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