University President Michael Drake is set for a $208,000 bonus as a result of the Board of Trustees’ annual performance review.
In addition to the bonus, Drake’s salary will increase by $16,646, 2 percent of his $800,000 base salary, according to Board documents. His total salary will be close to $850,000.
According to Board documents, the Talent and Compensation Committee “believes that President Drake has demonstrated excellent progress and achievement.”
Part of Drake’s contract with the university allows for 25 percent of his base salary to be awarded each year, should he achieve performance targets and goals.
Drake received a hefty bonus last year, as well, equating to $204,000.
The Board will vote to approve the bonus and raise Friday.
