The City of Vancouver originally said Mr. Ark Tsisserev had retired. Then word came out that he was the victim of restructuring due to budget cutbacks. Now we learn he has received a massive severance package which breaks down as follows:
- $153,102.50 for 15 months of base salary
- $12,243.04 in lieu of benefits
- $12,000 in lieu of pension contributions and service during the notice period
- $5,500 to provide the services of Right Management, a career transition consulting firm for a three month period
The City of Vancouver also agreed to provide Tsisserev with "a positive letter of reference signed by David McLellan". The full severance package and rationale for Tsisserev's departure can be viewed by clicking here.
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