By Associated Press
Lexington, KY – Lee T. Todd Jr., who is leaving the presidency of the University of Kentucky this week, has been given a tenured faculty contract in the College of Engineering.
The university board of trustees' Executive Committee decided Tuesday on the terms of the deal, which will pay Todd the equivalent of the highest paid faculty member in the college. University spokesman Jay Blanton said that amount currently is a little more than $162,000.
Board Chairman Britt Brockman said the agreement reflects both an appreciation for Todd's years of service and a desire that he continue contributing.
Todd is taking a one-year leave of absence when his presidency ends Thursday. As part of his contract for finishing the 10th year, Todd will receive a bonus equal to his last year's salary, which is about $511,000, Blanton said.