Purdue University's Board of Trustees will decide on Friday whether President Mitch Daniels should receive nearly all of his at-risk pay for the 2014-15 school year.
The compensation committee voted on Thursday to award 90 percent of Daniels' $126,000 at-risk pay and extend his contract for two additional years — up to June 30, 2020.
Trustees decided to extend Daniels' contract so he could see projects, including the State Street redevelopment and Purdue Moves, to fruition.
The contract awaits a vote Friday by the Board of Trustees, who also will decide whether Daniels receives $113,400 of at-risk pay for 2014-15, bringing his total compensation to $533,400. As part of the contract extension, Daniels could receive a “retention incentive” of $100,000 in 2016, with an additional $50,000 every year until 2020.
"We've got a lot to do yet, and so we thought it best, in order to have continuity, that we would retain Mitch for two more years to complete some of the major things we've started," said Chairman Mike Berghoff.
Under the amended contract, Daniels' at-risk pay would increase from 30 percent of his base salary to 50 percent, or $210,000. Next year, Daniels could earn up to $630,000.