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Jan 9, 2013 3:15 PM by Alyse Rzemek

College president gets triple severance

GLENWOOD SPRINGS, Colo. (AP) - An attorney for Colorado Mountain College says former president Stan Jensen was paid nearly three times what he normally would have collected in severance pay when he resigned last month.

Attorney Tim Whitsitt says Jensen would have been entitled to about $150,000 on the day he resigned, plus coverage of medical insurance premiums for nine months.

According to the Glenwood Springs Post Independent, Jensen received $500,000 as part of a mostly secret separation agreement

Jensen was earning $198,800 per year when he resigned, along with a package of perks and benefits worth more than $72,000 a year.

Jensen could not be located on Wednesday for comment.

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