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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 59-13-115 SO AS TO PROVIDE THAT THE TOTAL VALUE OF A SEVERANCE PACKAGE GIVEN TO A SCHOOL DISTRICT SUPERINTENDENT IN CONNECTION WITH THE TERMINATION OF HIS CONTRACT MAY NOT EXCEED THE ANNUAL VALUE OF THE TOTAL COMPENSATION MADE TO HIM UNDER HIS EMPLOYMENT CONTRACT, AND TO PROVIDE THAT THE REQUIREMENTS OF THIS SECTION MAY NOT BE CIRCUMVENTED IN THE SUPERINTENDENT'S EMPLOYMENT CONTRACT OR A SETTLEMENT MADE IN CONNECTION WITH THE TERMINATION OF HIS CONTRACT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 13, Title 59 of the 1976 Code is amended by adding:
"Section 59-13-115. The total value of a severance package given to a school district superintendent in connection with the termination of his contract may not exceed the annual value of the total compensation made to him under his employment contract. The provisions of this section may not be circumvented in the superintendent's employment contract or a settlement made in connection with the termination of his contract."
SECTION 2. This act takes effect upon approval by the Governor and applies to contracts formed after the effective date of this act.
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