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Ad Hoc Committee Minutes on compensation -- Dec. 10, 2002 -- Board of Trustees -- University of Louisville

by Bendl,Kurt last modified Nov 08, 2009 03:55 PM

MINUTES OF THE MEETING OF THE
AD HOC COMMITTEE ON COMPENSATION
BOARD OF TRUSTEES
UNIVERSITY OF LOUISVILLE

December 10, 2002

The Ad Hoc Committee on Compensation of the Board of Trustees of the University of Louisville met on Tuesday, December 10, 2002, at 11:14 a.m., at the Jefferson Room, University of Louisville, with the members present and absent as follows:

Present: Mr. J. Chester Porter, Vice Chairman, Presiding
Mr. Malcolm B. Chancey, Jr., ex officio
Mr. Nathaniel E. Green
Ms. Elizabeth H. Worland
Absent: Mr. Ulysses L. Bridgeman, Jr., Chair
Ms. Joyce Hagen
Other Trustees Present: Ms. Virginia Brown
Mr. Tommie Burns
Prof. David Ensign
Mr. Owsley Frazier
Ms. Jessica Loving
Mr. William Mulloy
From the University: Ms. Angela D. Koshewa, University Counsel
Ms. Rae Goldsmith, Public Relations
Ms. Katie Niehaus, Acting Secretary
Ms. Kathleen Smith
Dr. Shirley Willinhganz
Mr. Ron Moore
Mr. John Drees
Invited Guests: Ms. Margaret Handmaker, Mercer
Ms. Leslie Vidra, Legal Counsel, University of Louisville Foundation, Inc.

I. CALL TO ORDER

Having determined a quorum present, Vice Chairman Porter called the meeting to order.

II. RECESS OF OPEN MEETING

Mr. Chancey made a motion, which Mr. Green seconded, to recess the Open Meeting at 11:15 a.m. to go into Executive Session to discuss personnel matters.

III. OPEN MEETING RECONVENES

The Open Meeting reconvened at 12:07 p.m.

IV. REPORT ON EXECUTIVE SESSION

Vice Chairman Porter reported that personnel matters were discussed in Executive Session.

V. APPROVAL OF MINUTES

A motion was made, seconded and unanimously approved to accept the Minutes of the last meeting of the Ad Hoc Committee on Compensation held August 19, 2002.

VI. RECOMMENDATION REGARDING COMPENSATION FOR PRESIDENT RAMSEY

Mr. Chancey made a motion, which Mr. Green seconded, to approve recommend

The following elements as compensation and benefits for Dr. James R. Ramsey and for inclusion in the presidential contract:

Annual Salary for 2002-03:

$263,304 as University President

Bonus Program, capped at 25% of total salary from the University and UofL Foundation, if any, upon completion of board-approved annual objectives
Bonus Program for Strategic Initiative Goals
Annual leave per year: 22 business days per year
Three month administrative leave after 5 years of service as president
Car and all usage expenses associated with business travel
Housing, maintenance, and upkeep at Amelia Place
Fringe benefits generally provided:
University contribution to university retirement plan (7.5% of base annual salary without employee contribution; or 10% thereof if a 2.5% employee contribution is made)
Fixed health insurance monthly contribution
Long term care and disability insurance
Flexible spending account
Group life and accidental death and dismemberment insurance
Tuition remission for dependent children and spouse
University credit union membership and university bookstore discounts
Memberships: Jefferson Club, Country Club (2) for business purposes, and University Club
Spouse travel on all official university business trips
Travel and entertainment expense reimbursement according to University policy
Administrative leave for 12 months with full salary following term of contract
Early termination of contract (except for cause): Tenured faculty position at 75% of presidential salary
Reimbursement of moving expenses
Length of contract: 10 years

The Trustees Compensation Committee also recommends that the Board of Trustees request the UofL Foundation to provide supplemental disability coverage to provide total disability income at sixty percent (60%) of total salary, and

The Trustees Compensation Committee further recommends the approval of the following goals for the President for the period January 1, 2003 through June 30, 2003:

Recognizing the $5 million commitment from Dr. William Brundage, Commission of the New Economy, $3 million in federal funds arranged by Senator McConnell, and $15 million pledge from Jewish Healthcare to establish a Cardiac Innovations Institute:
*Clarify in an agreement the governance of the Institute and the direction of future research (assist device or stem cell)
*Develop two collaborative academic/research programs with the University of Kentucky (e.g., in health sciences, Pan-African Studies, etc.) that enhance opportunities for UofL’s students
Increase federal obligations for research (Grants and Contracts) by 10% over 2001-02
Submit to Board of Trustees, after appropriate consultation, a reorganization plan for the University’s administration
Develop and submit to Board of Trustees implementation plans for Phases V and VI of the Challenge for Excellence , focusing on faculty and staff salaries in Phase VI
Advance critical facility projects as follows:
Begin construction on Belknap Campus Research Facility
Complete preliminary planning for H.S. Research Building III
Complete revised construction plan for natatorium
Finalize conceptual agreement on baseball stadium, including site and location
* Obtain final agreement on financing for Cardinal Hall and insure work on schedule to open by
October 1

Finally, the Trustees Compensation Committee recommends that the Board of Trustees authorize its Executive Committee to approve any additional non-compensation terms and to execute the final presidential contract.

The motion passed unanimously.

VII. ADJOURNMENT

The Vice Chairman adjourned the meeting at 12:09 p.m.

CSK/Boards/adhoc/12-10-02

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