Intent on teaching students at American University that unethical behavior is well-rewarded, members of the university’s Board of Trustees offered ousted president Benjamin Ladner two options — a severance package worth anywhere from $3 to $4 million, or to be dismissed with cause and without severance. Sources claim he has until midday today to make his decision. The offer — rumored on the leafy Northwest university campus last Friday — was reported by the Post on Saturday.

In related news, two more trustees have resigned in protest, leaving the already embattled board with only 20 of the original 25 members. Michael Capellas, chairman and CEO of MCI, resigned last Monday, followed Friday by Leonard R. Jaskol, who headed up the audit committee that itemized Ladner’s questionable spending spree. In a resignation letter circulated online, Jaskol stated as his motivation the actions of the Ad Hoc Committee, a group of 13 trustees seen as Ladner supporters:

The primary motivation to resign lies with the behavior of the “Ad Hoc” Committee. In my view they have lost sight of the Board’s mission to serve American University. Their agenda appears to be the support and defense of Dr. Ladner and only when confronted by the enormous outpouring of no confidence by the students, Deans, Faculty, and staff did they finally agree that Dr. Ladner could no longer serve as President of American University. Now they want to reconstitute the Board leadership and implement their “programs”. Given what I have observed during these past months, I am not encouraged.

Board chairwoman Leslie Bains resigned prior to Ladner’s dismissal, while trustee Paul Wolff left shortly thereafter.

Note to self: Get job at American University. Embezzle funds. Get generous payout. Live large.