Verducci, scheduled to make $230,000 this year, , and said he would not be taking another job despite speculation it was due to .
The Gazette reported Verducci is entitled to six months of salary for the two remaining years of his contract; the $115,000 sum will be budgeted in 2011-2012; and a search for an interim superintendent is underway with the help of a hired firm.
Neighboring district Mahwah, hampered by the caps on superintendent pay, is still looking for a top administrator after its leader left the district at the end of the 2010-2011 school year.
If trends are an indicator, to find a permanent replacement – it is legally able to spend $157,500 for a superintendent, $10,000 less than Mahwah and many other districts in the county, which lost dozens of top administrators in the last two years.
The administrator that does end up taking the position may be far less experienced than Verducci, Board President Rona McNabola told Patch after Verducci's initial announcement.
Despite the substantial payout, the district will be receiving some cost savings given the cap Glen Rock will soon be under.
Verducci was named the 2011 Superintendent of the Year by the New Jersey Association of School Administrators' northern region.