Incoming University of North Texas President Neal Smatresk — who starts work Monday — will receive about the same compensation as outgoing President Lane Rawlins, according to copies of their contracts.
While Smatresk’s base pay will be $505,000 annually, $95,000 more than Rawlins received, Rawlins also received an additional $30,000 a year as a retention bonus, a car and a home furnished by the university.
Smatresk’s contract will be effective Feb. 3, his first day as president, and expires Jan. 31, 2017.
The majority of Smatresk’s contract mirrors that of Rawlins’ contract, aside from matters of compensation and an additional article regarding tenure.
Smatresk’s credentials will be submitted for tenure review by the university, and if recommended by the faculty and academic leadership members, Chancellor Lee Jackson will recommend Smatresk for tenure and appointment as a full professor in the Department of Biology, which would then be conferred by the Board of Regents.
Under the article, the contract also states that if he is fired as president, he would remain a tenured faculty member at the university and his salary would be adjusted.
Smatresk is eligible for raises in the contract, which must be recommended by Jackson and approved by the regents.
He’s also eligible for annual bonuses, a one-time increase to base salary or other compensation agreed on by Jackson and Smatresk and then approved by the board.
No bonus or increase could be more than 25 percent of his salary, or $126,250.
The new contract differs from Smatresk’s contract with the University of Nevada at Las Vegas, where he is serving his final week as president.
At UNLV, his base salary was $246,000 but his total compensation package was about $447,000, including bonuses and housing and car allowances.
Smatresk’s contract with UNT also covers his moving expenses as he relocates later this week to Denton. In the contract, no limit is set for the amount that can be reimbursed, but indicates the university will pay for “reasonable costs of moving household goods and personal effects.”
Smatresk has indicated that he and his wife will rent a home in the area while they build one close to campus in the coming months.
This article contains material from The Associated Press.
JENNA DUNCAN can be reached at 940-566-6889 and via Twitter at @JennaFDuncan.