[ The Atlanta Journal-Constitution: 2/21/03]
Life, founder agreed to $5 million severance 
By MARY MacDONALD 
The Atlanta Journal-Constitution 

AJC Life University founder and former president Sid Williams and 
his wife were promised nearly $5 million in severance by the 
university's board of trustees. 

Life University trustees agreed to pay former president Sid Williams 
and his wife nearly $5 million to retire from the university he 
founded, according to terms of a separation agreement made public 
by his recent lawsuit.
Williams sued the Marietta university in late December, claiming it 
had breached the agreement by failing to transfer to him and his 
wife, Nell Williams, the ownership of waterfront property in Florida. 
The lawsuit seeks damages from the university.
The home, valued at $1.2 million, was part of the exit package for 
the Williamses, said Charles Ribley, chairman of the university 
trustees.
The deal included more than $2 million in deferred salaries for the 
couple dating back to 1995, Ribley said, which will be paid out over 
several years. Sid Williams served as president of the university 
since its founding in 1974. Nell Williams held various 
administrative posts.
The Williamses could not be reached Thursday for comment. Their 
attorney, Glenn Brock, also could not be reached.
The separation agreement, made public in documents filed in 
Sarasota County Circuit Court, states that Sid Williams also was to 
receive a lump sum payment of $222,635 less taxes, a housing 
allowance of $19,615, and payment by Life of the premiums on his 
existing life insurance policies through this month.
Ribley said Thursday the trustees felt pressure to do this because 
the separation agreement dissolved the Life corporate board, which 
had the power to remove trustees.