Update 2:24 pm: Ammons will recieve more than $98,000 in bonuses per a revised statement from FAMU spokeswoman Pam Tolson:
"The Board agreed to pay the 2010-2011 bonus at the minimum contractual level of 25 percent ($81,250) of his base salary of $325,000. The 5 percent bonus for 2011-2012 is $17,062 based on his base salary of $341,250."
Update: 12:10 pm: Ammons will receive more than $100,000 in bonuses in exchange for resigning immediately. From FAMU spokeswoman Pam Tolson:
"The Board agreed to pay the 2010-2011 bonus at the minimum contractual level of 25 percent ($85,312) of his base salary of $341,250. The Board also agreed to pay Ammons the 5 percent ($17,062) bonus based on the annual report that he submitted to the Board based on mutually agreed upon goals."
Update 10:05 am: FAMU Provost Larry Robinson has been appointed as interim president. Robinson's appointment will be confirmed at the August meeting of FAMU's Board of Trustees.
Florida A&M Univeristy's President James Ammons' last day on the job is today. Ammons reached a deal with the FAMU's governing board to step down immediately, instead of waiting for another 90-days which was outlined in his contract.
Last week, Ammons submitted a resignation letter that stated his resignation would not take effect until Oct. 11. His contract allowed him to give 90 days notice to the FAMU board, but Ammons waived the provision in exchange for getting paid bonuses.
Ammons came under fire in the wake of the hazing death of drum major Robert Champion. Trustees have complained about a lack of oversight of the famed Marching 100 band as well as lax management on other issues at the university.
FAMU's Board of Trustees is meeting today to decide whether to appoint an interim president and how to move forward with a presidential search.