Exclusive: Missouri Contract Released, Loftin to Receive $585,000+ for 2014 Compensation

News       December 9, 2013 3:30 PMBy:        0 comments

Texas A&M President Bowen Loftin’s contract with the University of Missouri, which was executed on November 26, 2013, outlined a six-year $3,1850,000 deal.  As announced last week, Dr. Loftin will serve as Chancellor to the University of Missouri – Columbia starting February 1, 2014.  The University of Missouri’s chancellor position is equivalent to the president rank at Texas A&M.

Dr. Loftin’s agreement with Missouri described a $450,000 base salary, a one-time $135,000 “hiring incentive payment,” and deferred compensation in the amount of $50,000 per year.  The accumulated deferred compensation will be paid in 2017 and 2020, assuming Loftin remains chancellor.  Loftin’s salary at Texas A&M was $425,000 per year.

Click here to read the four page agreement between the University of Missouri System and Dr. Loftin. Earlier today, The Aggie Guardian obtained a copy of contract from the University of Missouri, which was provided in response to a public information request.

Missouri also offered to pay Loftin for any Texas A&M deferred compensation that he will forfeit by taking the Missouri Chancellor post.  It is unclear how much, if any, of Loftin’s deferred compensation is still held by Texas A&M.  The Aggie Guardian contacted the Texas A&M System for comment, and we will update this story as new information is provided.

The Missouri agreement allows Loftin to receive reimbursement for up to $45,000 in moving expenses.  Loftin’s position includes free housing in the chancellor’s residence in Columbia, Missouri.

This is a breaking story; check back later for updates.

Related: Going Out in Style: Texas A&M President Loftin’s Multi-million Dollar Transition Requirements

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