KTSC board accepted Gloria Ray's retirement today, effective in two weeks subject to negotiation of a separation agreement. If no agreement is reached at the end of two weeks, the board will vote to terminate, either with or without cause.

Following that action, interim chair Susan Brown resigned from the board, along with the rest of the executive committee.

Earlier posts after the jump...

KTSC Board meeting underway. Duncan approved and signed contract without telling board until weeks later. Ray accepted $50,000 bonus at signing before contract approved by board. Lawyer says some aspects of Ray's contract agreement illegal. Follow @MikeDonila for other blockbuster revelations.

UPDATE: KTSC board just retroactively rejected two bonuses totaling $96,000, discussion turns to whether Ray has to pay it back.

UPDATE: Board votes to make Ray pay back $96,000, now discussing the future of her employment.

UPDATE: Ray addresses board. Says she was told all payments to her were approved. I have not done anything to warrant my termination.

UPDATE: Ray offers to retire if lawyers can work out details.

UPDATE: KTSC lawyer says board can terminate Ray for cause.

UPDATE: Motion to terminate Ray for cause. Seconded.

UPDATE: Ray says she agrees she should leave. Wants to retire, rejects termination for cause.

UPDATE: KTSC board accepts Gloria Ray's retirement effective in two weeks, subject to negotiation of a separation agreement. If no agreement is reached at the end of two weeks, the board will vote to terminate, either with or without cause.

UPDATE: Interim board chair Susan Brown resigns from board.

UPDATE: Three other board members resigning.