Title: University president
Contract expiration: Dec. 31, 2015
Current base salary: $425,250
Bonuses: Eligible for three on Dec. 31. $60,000 for retention, $25,000 for meeting short-term goals and $40,000 for meeting long-term goals for 2012 and 2013, or a total of $125,000.
Retirement: Proenza waived participation in State Teachers Retirement System. UA contributes 25 percent of his compensation to a two-portion governmental retirement plan and 13.4 percent of his compensation to a 403(b) plan. In 2012, UA set aside $83,600; in 2011, $81,900.
House: Lives in a $700,000 colonial home in West Akron provided by UA; UA provides cooking, catering and housekeeping.
Tenure: After leaving presidency, would have become full, tenured professor at 80 percent of his base or at the salary of the highest paid, full-time, 12-month tenured professor at UA, whichever was higher.
Sabbatical: One year leave after leaving presidency, at base salary.
Miscellaneous: Car provided by the university valued at $32,000. Country club and service club memberships provided by UA. Fifteen sick days a year, to accumulate without limit. Twenty-two vacation days a year, to accumulate without limit, plus up to 30 days in June, July and August that do not accumulate.
New title: Resigns as president June 30, 2014, becomes president emeritus and assumes the Trustees Chair in Higher Education and Economy. On July 1, 2015, becomes tenured professor until resignation on July 31, 2026.
Contract expires: July 31, 2026
Salary: $425,000 through Dec. 31, 2013; $500,000 through June 30, 2015 (includes one-year sabbatical). Beginning July 1, 2015, 65 percent of base salary ($500,000), or $325,000. Beginning July 1, 2016, will receive $50,000 yearly as holder of the privately funded Trustees Chair.
Bonuses: Eligible for retention and merit raises for 2012 and 2013, as outlined in current contract. Not eligible for same bonuses in 2014 and 2015.
New role: Will teach about “the business of higher education, innovation, collaboration and entrepreneurship.” Will not be a member of the UA chapter of the American Association of University Professors. Workload to be similar to that of full-time tenured faculty on nine-month contract.
Housing: Will vacate president’s house by Sept. 1, 2014.
Car: Will return car when presidency ends.
Retirement: Chief Executive Retirement Plan continues through sabbatical, after which the retirement contribution will equal that of a normal STRS contribution made for a full-time tenured professor.
Source: University of Akron