5:18pm

Tue June 14, 2011
Education

UK President Takes Home More Pay

The University of Kentucky Board of Trustees has approved an employment agreement for incoming president Eli Capilouto. Board Chairman Britt Brockman says Capilouto’s compensation is based on recommendations from a consultant and a review of other universities.

“We were given parameters that could have gone as high as the low $700,000’s and we’ve stayed well below those parameters. So his base contract as you will see is $500,000.  To his credit, the President-elect has elected not to receive a bonus in his first year,” said Capilouto.

Capilouto’s five-year contract begins July 1. The university will contribute $75,000 each year to his UK retirement plan and $50,000 to other retirement benefit plans.  Capilouto succeeds outgoing president Lee Todd, Jr., who is retiring after 10 years at the helm of UK.