The Board of Trustees extended President Thomas J. Haas’ contract through July 2013 and gave him a base salary increase of 9.7 percent at its July 2008 meeting.
That brings his base annual salary to $225,000 from $205,000. The Board also increased his deferred compensation from $35,000 to $40,000.
Even with the raise, Haas' salary still ranks in the lower half of all presidents of Michigan's public universities.
The Board also provided a five-year continuation commitment that provides a payment equal to one year of salary (based on the average) if Haas is employed as president on June 30, 2013.
This agreement is similar to ones provided to President Emeritus Arend D. Lubbers and former President Mark A. Murray.
At a time when university presidents serve an average of five years, associate vice president for Human Resources, Scott Richardson, said the trustees offered the agreement to ensure stable leadership at Grand Valley for the next five years.
Haas joined Grand Valley as president in 2006.
