By Brenna Angel
http://stream.publicbroadcasting.net/production/mp3/wuky/local-wuky-1001763.mp3
LEXINGTON, Ky. – 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."
Dr. 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.
