In 2012, UF President Bernie Machen?s salary will be bumped up to a cool million.
UF?s Board of Trustees approved a four-year extension of Machen?s contract on Nov. 30. In 2012, the last year of his contract, Machen will receive a long-term bonus - an additional ,400,000 to his salary.
Machen receives a base salary of ,415,000 and ,285,000 in performance bonuses annually, bringing his total annual paycheck to ,700,000.
In his original contract, he had the option to take a one-year paid leave and receive ,450,000 in addition to his salary.
Instead of the vacation, Machen chose to take ,100,000 each year for four years beginning in 2009. Along with the ,400,000 long-term bonus, this will bring his compensation to ,1.2 million in 2012.
Trustee Al Warrington, chairman of the board?s Committee on Finance and Facilities, was the only trustee who did not approve the contract extension.
Warrington was also the only trustee to vote against Machen receiving nearly ,300,000 in performance bonuses.