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Agreement: McCabe getting $1.25M from BIAW

Post by Brad Shannon / The Olympian on Dec. 14, 2010 at 1:11 pm |
December 14, 2010 5:24 pm

Longtime leader Tom McCabe will be paid $1.25 million and given a year’s worth of health-care coverage as part of his severance agreement with the Building Industry Association of Washington.

The Olympian obtained a copy of the agreement. It shows McCabe and BIAW executive board members signed the deal on Thursday, Dec. 9. It also says McCabe voluntarily resigns as executive vice president, is paid $1.25 million by Dec. 10 and will be entitled to health-insurance coverage through December 2011 as well as deferred compensation already owed under existing plans.

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