LEXINGTON, Ky. (LEX 18) — The University of Kentucky Board of Trustees Friday approved a three-year extension of UK President Eli Capilouto’s employment agreement.
The extension, detailed in a brief amended agreement to his existing employment agreement, continues Capilouto’s term to 2023-24. Capilouto’s current employment agreement and previous amendments can be found here.
“The past nine years have been a period of remarkable and unprecedented growth and accomplishment for the University of Kentucky. The leadership of Eli Capilouto has been integral to UKthat progress and, we believe, to our future,” said UK Board Chairman Robert Vance. “Now, we are in the midst of incredible challenge. We believe the continued vision and leadership of President Capilouto is vital to our capacity to meet the moment and position UK to thrive.”
Capilouto is finishing his ninth year as UK’s 12th president and was entering the last year of his employment agreement. As part of the employment agreement, board members approved, as previously reported, a reduction in his annual salary of 10%, dollars that are being contributed to an emergency employee assistance fund as part of UK’s efforts to grapple with budget challenges in the wake of COVID-19.