LEXINGTON, Ky. (LEX 18) — The University of Kentucky Board of Trustees voted to increase the University president's base pay, resulting in a $200k raise.
The Board says the modification of Dr. Eli Capilouto's contract was "to send a signal that we are strongly behind this leader and his vision for UK and Kentucky. We want to continue his tenure for as long as possible."
Capilouto's base pay was $838,774 as of July 2019.
The Board voted to increase president base pay about $200,000 to $1,035,646. This increase was attained from the average of the two highest-paid SEC public university presidents, plus 10%.
They also added retention payments on an annual basis to the contract and modified the agreement, so there is always a minimum of three years remaining on his term.
The board also noted that if Dr. Capilouto steps down as president, he will remain employed for an additional two years to continue work on behalf of UK at the discretion of the board.