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Stokes To Get Severance Under Separation Agreement

PROVIDENCE, R.I. (AP) _ A state economic development official who stepped down amid the controversy over a loan guarantee to Curt Schilling’s troubled video game company will receive just under $64,000 in severance pay.

The Providence Journal reports the state agreed to give Keith Stokes 13 weeks of pay as part of a separation agreement in May, when he stepped down as executive director of the Rhode Island Economic Development Corporation. The package also includes medical and dental benefits and accrued vacation and personal time.

The board in 2010 approved a $75 million loan guarantee for Schilling’s 38 Studios. At the time, Stokes called the loan agreement a calculated risk “well worth taking.”

The company filed for bankruptcy protection last week.
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Information from: The Providence Journal, http://www.providencejournal.com

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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