APRIL 14, 2004 - Posted at 7:31 a.m. CDT, updated at 9:43 a.m.
NEWPORT, AR - Newport School District Superintendent Floyd Marshall is out of a job this morning, but certainly not money.
During a specially called meeting of the Newport school board last night, the board announced Marshall's resignation and a buy-out of his contract. In a news release, the board explained that it decided to buy out Marshall's contract for $232,840, paying him monthly through June 30, 2006. The release says the board took the buy-out option instead of firing Marshall, because it was afraid of the cost of a possible wrongful termination lawsuit.
The resignation is the direct result of an altercation at a meeting between Marshall, his son, Ryan Marshall, who is also an employee in the Newport district, and local cable television outlet owner David Black.
Ryan Marshall remains suspended with pay until June 30.