The University of Kentucky and Dr. Eli Capilouto have an agreement in principle on terms of compensation. A final contract is being developed, according to a news release.
Terms of compensation include:
Base salary: $500,000
Maximum bonus: $50,000 (eligible to receive up to this amount for achievement of target goals)
Retirement Contributions and/or Deferred Compensation:
$75,000 (contribution to retirement plan calculated at 15 percent of annual base salary)
$50,000 (university's contribution to deferred compensation plans)
Total compensation: $675,000
Other terms: Dr. Capilouto and his wife are required to live in a university-owned home, Maxwell Place; UK also will provide Dr. Capilouto with an automobile and membership dues
President Todd's current compensation is $657,000.