Board OKs California hospital CEO's $600K salary contract

The board of Antelope Valley Healthcare District approved a two-year contract for hospital CEO Edward Mirzabegian Jan. 23. Under the contract, Mr. Mirzabegian will receive an annual salary of $600,000, according to the Antelope Valley Press.

Four things to know:

1. The board voted 4-0, without discussion, to approve Mr. Mirzabegian's contract, which went into effect Jan. 15.

2. Under the agreement, Mr. Mirzabegian will be eligible to receive a raise after one year if the hospital meets 75 percent of its goals laid out by the board. He will also receive $1,000 per month for automobile allowance and up to $30,000 for reasonable relocation expenses for up to 180 days.

3. Mr. Mirzabegian is also eligible for severance pay if his employment is terminated within the first year of his contract. He will receive his base salary for at least 10 months or until the end of his contract, whichever occurs first.  

4. Mr. Mirzabegian was appointed CEO of Lancaster-based Antelope Valley Hospital during a special meeting Dec. 28, 2018, after the abrupt departure of the hospital's former CEO and CFO one month prior. He previously served as CEO of the hospital from 2007-13.

To access the full report, click here.

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