ALBANY, N.Y. (NEWS10) — Former SUNY Chancellor Jim Malatras will be paid hundreds of thousands of dollars as part of an exit agreement with the school system.

As part of the agreement, he will receive his base salary of $450,000 from now until January 16, 2023. He will then receive a tenured faculty position salary for 2023 of $186,000. This was part of the contract he signed when he became chancellor.

Malatras submitted his resignation in December amid controversial comments he made regarding the scandal surrounding former governor Andrew Cuomo.

The Board of Trustees has agreed to the settlement.

“After a thorough review by outside counsel, the SUNY Board of Trustees have resolved and fulfilled its contractual obligations to former Chancellor Dr. Jim Malatras.  Consistent with his initial contract, Dr. Malatras will be provided one-year study leave followed by a tenured faculty position at Empire State College.  We believe this resolution is fair and equitable.” 

Leo Rosales, SUNY Vice Chancellor of Communications