CHATTANOOGA (WRCB) – The Hamilton County Board of Education has released its offer to buy out the remainder of Superintendent Dr. Jim Scales' contract.

Earlier this month, Dr. Scales revealed that his lawyers had been in negotiations to leave his post after several board members asked to end his contract early.

Scales had signed a four-year contract renewal in June 2008.

Under the terms of the school board's offer, Scales would be paid his annual salary through the end of his contract in 2012, as well as for his vacation, holiday and sick days, a sum equaling $282,111.

Dr. Scales would also get to keep his health insurance through the school board through the end of 2011.

The School Board has announced a specially called meeting for May 26 to discuss the possibility of a buyout of Dr. Scales' contract.

If Dr. Scales and the board agree to the terms of his departure, Scales' last day would likely be July first.

Deputy Superintendent Rick Smith is believed to be the choice of most Board members to replace Dr. Scales.