Televangelist Richard Roberts, the son of school founder Oral Roberts, resigned last November.
He and his wife, Lindsay, were accused of using school funds for shopping sprees, home improvements and a stable of horses for their daughters at a time when ORU was more than 50 million dollars in debt. Both have repeatedly denied wrongdoing.
Billionaire Oklahoma City businessman Mart Green took the reins of the school in January, donating 70 million dollars and pledging to restore the public's trust in the small evangelical school.
Wednesday, Green called the proposed severance agreement "fair, reasonable, and in the best interest of ORU." But he refused to comment on the details.
