West Virginia University President E. Gordon Gee will make $800,000 a year for the next five years, and could make an additional $200,000 a year in bonuses by staying on as WVU's president, according to the contract Gee signed Monday.
The WVU Board of Governors and the state Higher Education Policy Commission had already approved the contract, but the terms were not released until Monday.
Under the contract, Gee would make $675,000 in base pay each of the next five years, and take in an additional $125,000 from the West Virginia University Foundation.
John Bolt, the spokesman for WVU, said the new $800,000 salary is a $25,000 pay increase from Gee's previous contract.
If Gee is still president of WVU on June 30, 2019, he would receive $600,000 -$200,000 for each of the three years he stayed.
Gee would get a second retention bonus if he stays through the end of his contract on June 30, 2021, earning an additional $400,000.
The retention bonuses were not in Gee's previous contract, Bolt said.