Published: Apr 24, 2012 8:51 PM EDT
Updated: Apr 24, 2012 9:40 PM EDT

CHARLOTTE COUNTY, Fla - There are new developments in the ongoing battle between Edison State College and fired president Kenneth Walker.  Late Tuesday afternoon the board of trustees voted to settle with him in an effort to head off what could be years of litigation.

The school's attorney presented the trustees the option of paying Walker more than a half-million dollars in exchange for him dropping his lawsuit against the college.  Walker filed breach of contract charges against Edison in February, after the board voted to terminate him.

A little more than a week ago, a mediator met with the school and with Walker to try and reach an agreement.  That mediator decided on a 540 thousand dollar settlement in exchange for Walker's voluntary retirement and dropping the lawsuit.

In a nearly unanimous vote, the school decided the payment would be better than paying possibly years in lawyers fees. Trustee Marjorie Starnes-Bilotti says, "When you consider that trauma to this campus and the bad publicity for this campus will continue for 2 or 3 years if we litigate, it makes me believe this to be a bargain."

Chris Vernon was the only trustee to vote against the settlement.  He said the school could probably get away with paying less.