The president of the University of Medicine and Dentistry of New Jersey, who is resigning at the end of this week, will continue to earn his six-figure salary over the next eight months while serving as a consultant for his replacement, according to a separation agreement with the school.
William F. Owen — the highest-paid leader of a New Jersey public college or university — will be paid his current salary rate — amounting to $380,000 — through August and will be covered by health insurance, according to the document obtained by The Star-Ledger under the Open Public Records Act.
Owen also will receive pension benefits until the end of April. Owen’s contract was to have expired in June.
The university announced two weeks ago that Owen was resigning from his $570,000-a-year post after 4½ years. Denise V. Rodgers, an executive vice president at the Newark-based school, will take over as interim president on Jan. 1. Her salary has yet to be finalized, university spokesman Jeffrey Tolvin said.