The former president of Florida Gulf Coast University, who resigned last month after admitting to an extramarital affair with a female professor, will get a severance package worth roughly $811,000, according to The News-Press, a newspaper in Fort Myers, Fla.

The institution’s governing board voted on Wednesday to approve the deal for William C. Merwin, who had been president since 1999. He will get his annual base salary of $298,000, plus about $95,000 for benefits, and $3,000 to $5,000 for a home office — a total of almost $400,000. That money will be paid with the interest from investments made by a university-affiliated financing corporation, the paper reported. Mr. Merwin will also receive, as part of a benefits agreement, $92,649 for unused sick leave and vacation time, $50,000 left over from a bonus that was part of his contract, and $271,000 in annuity money to be paid by a retirement company.