The mutual agreement between the Foxboro selectmen and former town manager Kevin Paicos will be worth over $200,000 with nearly an additional $225,000 in transitional costs according to an analysis conducted by finance director Randy Scollins.
As part of Paicos’ settlement, he will receive $211,230 in salary and benefits though June 30, 2014 according to the Foxboro Reporter.
Other transitional costs to find and hire a new town manager are expected to cost $224,564 for a total of $435,794.
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The deal will need a town appropriation of about $190,000 in the future.
On Aug. 6, the board announced that Paicos would not return as the town manager for the final 11 months of his contract. In late June, the board decided in executive session to place Paicos on administrative leave, after giving him a satisfactory evaluation and a raise in May.
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There is currently no timeline set for the hiring process of a new town manager.
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