Incoming University of Texas President Declines $1M Salary
AUSTIN, Texas (AP) — Documents say the incoming president of the University of Texas at Austin declined the school's offer of a $1 million salary.
The Austin American-Statesman (http://atxne.ws/1Hd3q7B) reports that in an email, Gregory Fenves warned that a million-dollar salary would prompt widespread negative attention from students and faculty because of budget constraints seen in the last five years.
The newspaper obtained the documents through an open-records request.
Fenves will receive his requested base salary of $750,000 a year. He also requested that his annual bonus, which is dependent on a performance evaluation, be capped at 10 percent of his base salary rather than the 12 percent listed in a proposed term sheet that was earlier presented to him.
The UT System Board of Regents is expected to formally approve Fenves' compensation package Thursday.
Fenves will assume office June 3.
Information from: Austin American-Statesman, http://www.statesman.com
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