(1) Each person employed in an administrative or instructional capacity in a Florida College System institution shall be entitled to a contract as provided by rules of the State Board of Education.
(2) A Florida College System institution board of trustees may not enter into an employment contract that requires the Florida College System institution to pay an employee an amount from appropriated state funds in excess of 1 year of the employee’s annual salary for termination, buyout, or any other type of contract settlement. This subsection does not prohibit the payment of leave and benefits accrued by the employee in accordance with the Florida College System institution’s leave and benefits policies before the contract terminates.