Just saw this piece here in the SL. Looks like the NJ Senate voted to end the Super Salary Cap.
Hey, you remember Super Dr. Richard 'Looking for the Exit Ramp' O'Malley's Safe Haven Contract given by the Board of Mythomania after he was out looking for another gig - and didn't get it. You know, the one where they just shifted base salary dollars over to Performance Bonuses.
That contract that took effect on April 1, 2015 (and wish it was an April Fool's Joke - but it's not) and runs until July 1, 2019. Under that new contract (you can see it in the 1/5/15 post), his current salary of $222,854 drops down to $209,000 on April 1st. but he's eligible for a max bonus of 8% this school year and the Board made him eligible for a 7% max bonus.
There's also another provision in that contract called Contract Re-Opening and you can find it on page 8 of his employment contract referenced above.
It states - 'The parties agree that in the event that the New Jersey Department of Education's Accountability Regulations are materially revised, repealed and/or expire, the parties agree to reopen the compensation provisions of the Employment Contract and discuss the possibility of revising the base salary and any contractual increases consistent with then-current laws and regulations. Such discussions shall be conducted in good faith by both parties.'
Wouldn't you like to be a fly on the wall for the conversation these two are gonna have on his $alary if this moves forward and gets through?
Anyhoo, let the renegotiation's begin in the Land of Mythomania where Out-of-Control $pending is an activity and not an accomplishment - unless, of course, this leading from behind board considers only achieving a dismal 25% of their written goals last year to be money well $pent.