U of L Final Exec Comp Report v1

Executive Compensation ReviewRevised

July 16, 2015

Prepared by:

Mark Reilly, Principal, Head of Executive Compensation Practice

Ben Allen, Senior Associate

Erin Beth Garvin, Associate

Contents

1. Executive Summary2. Project Objective3. Project Steps4. University of Louisville Compensation Summary5. Summary of Base Salary Findings6. Summary of Total Cash Findings (Base + Annual Incentives)7. Summary of Total Compensation Findings (Total Cash + Deferred Compensation and Benefits)8. Findings and Preliminary Recommendations9. Next Steps

University of Louisville 2

Executive Summary - Findings and Recommendations

University of Louisville executives are generally at or above the market. Dr. Ramsey has been President since November 2002 and due to his long tenure and high

performance, is at the high end of the market. His salary is below the 90th percentile of the 990 data (ACC schools).

A significant portion of Dr. Ramseys past and future compensation is from tax gross-up payments. Tax gross-ups are used to reimburse him for the taxes due on his income. In other words, if he is promised $500,000, the actual check might be issued for $1,000,000. This would leave the promised $500,000 after the required taxes had been deducted. The gross-up payment itself also is taxable to the employee and subject to withholding and payroll tax.

Tax gross-ups are not common practice and should be eliminated, going forward. Currently Dr. Ramsey receives tax gross-ups on contributions to his deferred compensation plan,

earnings on the deferred compensation account and on bonus payments made to his deferred compensation.

In FY 2014 Dr. Ramseys tax gross-up payment is projected to be $873,422 (based on University projections), which will bring his FY 2014 compensation to over $2 million. While his 2014 tax gross up is high due to his $500,000 deferred compensation award, it will still be approximately $600,000 going forward.

If the Board continues to pay Dr. Ramsey at current levels, we recommend tying more compensation to performance rather than to tax gross-up payments.

.


Executive Summary - Findings and Recommendations (continued) Deferred compensation plans are used by many Universities and are considered common

practice. The current vesting schedule used by the Universitys plan is too short and should be at least 3 years. The is no retention element if the deferred compensation award vests immediately.

A more detailed analysis should be conducted to determine if the deferred compensation plans are structured to meet the Universitys objectives.

The current compensation philosophy is (appears) to pay market salaries, incentives and provide deferred compensation plans. We recommend the University develop a formal executive compensation philosophy document which would be used as a guide for future compensation decisions.

Matching executives to the market is not an exact science. We used three data sources to mitigate this weakness: peer group 990s and survey data available from The Chronical of Higher Education and CUPA.

The peer group 990 data may be understated, as many report income from multiple sources. Although we did review foundation 990s, its impossible to know if we captured the complete picture from the 990s. A custom survey should be considered.

Name of Presentation 4

Project Objective

The University of Louisville has retained Verisight to conduct a competitive market review for six Executive Officer positions:

President EVP Provost SVP Finance and Administration/COO EVP Health Affairs EVP Research VP Strategy and General Counsel


Project Steps

Obtained and reviewed University of Louisvilles current compensation arrangements

Gathered competitive market data from three sources:1. A peer group of 26 academic institutions, representing universities within the Atlantic Coast

Conference, as well as universities identified as peers due to size, geography, and other characteristics.

2. The Chronical of Higher Education3. College and University Professional Association (CUPA)

Compared current compensation levels to the market.

Provided a summary of findings and recommendations.



University of Louisvilles Current

Executive Compensation Data

University of Louisville Compensation Summary

President: Dr. Ramseys base salary is a combination of base salaries paid by the University of Louisville and the University of Louisville Foundation. He is eligible for an annual performance bonus in an amount up to 25% of his combined salary, which may then be deferred. He is a participant in the Key Employee Deferred Compensation Plan and will receive annual deferred compensation in the amount of $75,000, plus $250,000 a year through 2020. Deferred compensation payments include a tax gross-up.

EVP Provost: Dr. Willihnganzs base salary is a combination of base salaries paid by the University of Louisville and the University of Louisville Foundation. Her base salary paid by the University of Louisville is comprised of a 10-month academic component and an administrative supplement. She is eligible for an annual performance bonus in an amount up to 20% of her non-Foundation salary. She is a participant in the Key Employee Deferred Compensation Plan and receives annual deferred compensation in the amount of $50,000. She has also received additional contributions of $150,000 for the last three years. Deferred compensation payments include a tax gross-up.

SVP Finance and Administration/COO: Mr. Sands is a FY 2015 hire whose base salary is paid by the University of Louisville. He is eligible for an annual performance bonus in an amount up to 20% of his base salary. He is a participant in the Key Employee Deferred Compensation Plan and receives annual deferred compensation in the amount of $100,000. Deferred compensation payments include a tax gross-up.


University of Louisville Compensation Summary (continued)

EVP Health Affairs: Dr. Dunns base salary is paid by the University of Louisville, with the academic component accounting for 75% and the remaining 25% administrative supplement being at risk and payable upon successful completion of goals agreed to at the beginning of the fiscal year. He is eligible for an extraordinary performance bonus in an amount up to 10% of his combined salary.

EVP Research: Dr. Pierces base salary is paid by the University of Louisville, with the academic component accounting for 90% and the remaining 10% administrative supplement being at risk and payable upon successful completion of goals agreed to at the beginning of the fiscal year. He is a participant in the Key Employee Deferred Compensation Plan and receives annual deferred compensation in the amount of $40,000.

VP Strategy and General Counsel: Ms. Strohm is a FY 2015 hire whose base salary is paid by the University of Louisville. She is eligible for an annual performance bonus in an amount up to $40,000.

The value of perquisites (car allowance, bridge loans, club memberships, etc.) received in the past year was not provided and is not included in determining Total Compensation.


University of Louisville Compensation Summary Presidents 2014 Total Compensation Based on University Projections


(a) (b) (c) (d) = (a) + (b) + (c)

Position Title Incumbent Base Salary Bonus1Deferred

Compensation2,3 Total

PresidentDr. James Ramsey $624,000 Deferred $1,905,239 $2,529,239

1Bonus based on 25% of base salary, which may then be deferred.2Each University employee participates in the University Retirement Plan, a 403(b) deferred compensation plan in which the University contributes 7.5% of base salary up to a max of $200,000.3Deferred compensation based on University Retirement Plan contributions, along with $75,000 and $500,000 DCPA annual contributions awarded on 1/1/2014. Deferred compensation payments include a tax gross-up based on a 50% tax rate.

Note: Includes $574,321 in deferred compensation interest earnings, with gross-ups.

University of Louisville Compensation Summary Presidents 2014 Deferred Comp Detail


Notional

Gross Taxes Net Earnings Grants (net)

POP Earnings $12,644.60 $6,935.56 $5,709.04 $5,709.04

Key Employee DC P Earnings $76,720.55 $42,081.22 $34,639.33 $34,639.33

Retirement Acct in lieu of current bonus earnings $13,032.12 $7,148.13 $5,883.99 $5,883.99

2nd quarter $102,397.27 $56,164.91 $46,232.36 $46,232.36 -$

2020 retention grant $904,383.52 $404,383.52 $500,000.00 500,000.00$

POP Earnings $7,917.85 $3,629.75 $4,288.10 $4,288.10


Key Employee DC P grant $138,485.23 $63,485.23 $75,000.00 75,000.00$

Retirement Acct in lieu of current bonus earnings* $298,535.38 $136,856.38 $161,679.00 $161,679.00

Retirement Acct in lieu of current bonus $288,049.28 $132,049.28 $156,000.00 156,000.00$

2020 retention grant earnings $33,995.35 $15,584.35 $18,411.00 $18,411.00

3rd quarter $1,683,117.54 $761,375.44 $921,742.10 $190,742.10 731,000.00$

POP Earnings $9,368.99 $4,372.99 $4,996.00 $4,996.00


Retirement Acct in lieu of current bonus earnings $24,230.74 $11,309.74 $12,921.00 $12,921.00

2020 retention grant earnings $25,579.07 $11,939.07 $13,640.00 $13,640.00

4th quarter $119,724.70 $55,881.70 $63,843.00 $63,843.00 -$

Rounding $0.00 ($0.02) $0.02

2014 W-2 $1,905,239.51 $873,422.03 $1,031,817.48 $300,817.46 731,000.00$

University of Louisville Compensation Summary Presidents Estimated 2015 Total Comp


(a) (b) (c) (d) = (a) + (b) + (c)

Position Title Incumbent Base Salary Bonus1Deferred

Compensation2,3 Total

PresidentDr. James Ramsey $648,961 Deferred $1,023,153 $1,672,114

1Bonus based on 25% of base salary, which may then be deferred.2Each University employee participates in the University Retirement Plan, a 403(b) deferred compensation plan in which the University contributes 7.5% of base salary up to a max of $200,000.3Deferred compensation based on University Retirement Plan contributions, along with $75,000 and $250,000 DCPA annual contributions awarded on 1/1/2015. Deferred compensation payments include a tax gross-up based on a 50% tax rate.

Note: Does not include deferred compensation interest earnings, with gross-ups. In 2014, this total was $574,321.

University of Louisville Compensation Summary Presidents Estimated Benefits


Benefits Unique to Dr. Ramsey as University PresidentDescription of Benefit/Perquisite Value of Benefit/Perquisite

Full family health insurance coverage in excess of that portion paid by the University $2,739Long-term care insurance with benefits of not greater than $100k per year $21,130Supplemental long-term disability coverage over and above the University group plan, providing income at 60% of base salary $36,880Gross-up for any income taxes payable as a result of providing long-term care insurance and supplemental long-term disability coverage $58,010Term life insurance policy with a $1M death benefit $6,310Tuition reimbursement for dependent children in pursuit of an undergraduate or graduate degree at the University N/AProvide and furnish the official residence of the University President N/AAutomobile of his choice and expenses related to the automobile's use $12,000Spousal automobile allowance not to exceed $1k per month or $12k per calendar year $12,000Reimbursement for reasonable and necessary business and entertainment, including reasonable and necessary travel expenses incurred by the President's spouse N/ACountry club membership to Lake Forest $5,780Tax preparation services $925Up to 3 months of administrative leave of absence with pay (one use only) N/A

Total $155,774

University of Louisville Compensation Summary Prior 990s for President


Compensation Reported by University Foundation

Dr. Ramsey - University President

Reportable Compensation from the Organization

Reportable Compensation from Related Organizations

Estimated Amount of Other Compensation Total

2012 $2,743,572 $0 $520,833 $3,264,405

2013 $1,339,246 $0 $520,833 $1,860,079

University of Louisville Compensation Summary Other Positions


(a) (b) (c) (d) = (a) + (b) + (c)

Position Title Incumbent Base Salary1 BonusDeferred

Compensation2 Total

EVP ProvostDr. Shirley

Willihnganz3,4 $394,533 $65,903 $429,590 $890,026SVP Finance and Administration/COO Harlan Sands5,6 $350,000 $70,000 $226,250 $646,250

EVP Health Affairs Dr. David Dunn7,8 $1,047,280 $0 $78,546 $1,125,826

EVP Research Dr. William Pierce9 $316,050 $0 $63,704 $379,754VP Strategy and General Counsel Leslie Strohm8,10 $350,000 $40,000 $26,250 $416,250

10Eligible for annual performance bonus of up to $40,000. The max bonus amount is shown as Ms. Strohm was hired 2/2/2015.

1Base salaries are for FY 2015. Salaries for FY 2014: Dr. Willihnganz - $366,684, Dr. Dunn - $1,007,000, Dr. Pierce - $309,851.2Each University employee participates in the University Retirement Plan, a 403(b) deferred compensation plan in which the University contributes 7.5% of base salary up to a max of $200,000. Deferred compensation payments include a tax gross-up based on a 50% tax rate.3Bonus based on 20% of $329,513 non-Foundation salary, paid in FY 2015.4Deferred compensation based on University Retirement Plan contributions, along with a $50,000 DCPA annual contribution and $150,000 a year in special DCPA contibutions from 7/1/2012 - 6/30/2015.5Eligible for annual performance bonus of up to 20% of base salary. The max bonus amount is shown as Mr. Sands was hired 1/1/2015.6Deferred compensation based on University Retirement Plan contributions, along with a $100,000 DCPA annual contribution.7Eligible for annual extraordinary performance bonus of up to 10% of base salary. No bonus was awarded in FY 2015.8Deferred compensation based on University Retirement Plan contributions.9Deferred compensation based on University Retirement Plan contributions, along with a $40,000 DCPA special retirement annual contribution.


Data Sources

Selected Peer Group

The University of Louisville selected a peer group of 26 academic institutions, representing universities within the Atlantic Coast Conference, as well as universities identified as peers due to size, geography, and other characteristics.


Clemson University University of California - Irvine University of South CarolinaFlorida State University University of California - San Diego University of South FloridaGeorgia institute of Technology (GA Tech) University of Cincinnati University of UtahNorth Carolina State University University of Illinois at Chicago University of VirginiaRutgers University University of Iowa University of WashingtonSUNY Buffalo University of Kentucky Virginia Commonwealth University

SUNY Stony Brook University of New MexicoVirginia Polytechnice Institute and State University (Virginia Tech)

Temple University University of North Carolina at Chapel Hill Wayne State UniversityUniversity of Alabama at Birmingham University of Pittsburgh

Peer Universities

Peer Group 990s and Published Survey Compensation Data

Verisight used public filings to collect compensation data for similar executive positions at peer universities as reported. The data sources used in this study were:

IRS Form 990s The Executive Compensation at Public and Private Colleges database published by The

Chronicle of Higher Education (reported for Presidents only) The Administrators in Higher Education Salary Survey published by the College and

University Professional Association (CUPA)

Data from all public filings was aged to July 1, 2015 at an annual rate of 3.0% a year.

Verisight drafted a custom compensation survey that could be used to gather specific compensation data, at peer universities willing to participate, for similar executive positions. Verisight and The University of Louisville could partner to identify contact information for prospective participants, which The University of Louisville indicated they would be able to acquire, in an effort to maximize participation levels.


Data Sources - Form 990s

Form 990s are filed by non-profit institutions, with key executive compensation typically disclosed in the Schedule J. The components of compensation provided in the Schedule J include:

Base: Base compensation means nondiscretionary payments to a person (such as salary or fees)

Bonus: Examples include signing bonuses and payments based on satisfaction of a performance target (other than mere longevity of service).

Other: Examples include, but are not limited to, current-year payments of amounts earned in a prior year, payments under a severance plan, deferred amounts, and earnings or losses in a nonqualified defined contribution plan subject to section 457(f) when they become substantially vested.

Deferred: All current-year deferrals of compensation for the listed person under any retirement or other deferred compensation plan, whether qualified or nonqualified.

Nontaxable: Nontaxable benefits are benefits specifically excluded from taxation under the Internal Revenue Code.

Compensation paid to university leadership positions often comes from multiple sources, the university and the university foundation for example. These amounts are often reported in separate Form 990s. In order to capture the complete compensation picture, Verisight aggregated compensation amounts when reported in separate Form 990s.


Data Sources Chronicle of Higher Education

The Chronicle of Higher Education compiles compensation data from surveyed public and private institutions. The data is based on each institution's fiscal year, the most recent of which being 2013/2014. The components of compensation provided include:

Base pay: Total base salary provided, including compensation from private university-related foundations.

Bonus pay: The value of all bonuses and incentive compensation paid out. Deferred compensation, paid out: Compensation that was set aside in previous years and

paid out during the fiscal year covered. Severance pay: Payments made to the chief executive upon his or her resignation or firing,

as determined by his or her contract, separation agreement, or a legal settlement. This can include severance pay, unused vacation pay, or other agreed-upon separation pay.

Retirement pay: Payments made by the university to a retirement plan that is available to any university employee during the fiscal year. This can include 401(k) plans, state pension plans, and other retirement plans that are broadly available. (As this is not paid out during the reporting year, it is not included in "Total Compensation.")

Deferred compensation, set aside: This is to be paid out in future years, and can include contributions to supplemental executive retirement plans. (As this is not paid out during the reporting year, it is not included in "Total Compensation.")


Data Sources - CUPA

The Administrators in Higher Education Salary Survey (AHESS), published by the College and University Professional Association (CUPA), collects base salary data for 191 positions with primary assignments requiring the management of an institution or of a customarily recognized division within it.

CUPA allows users to create a custom peer group to collect base salary data. All but one of the university peers identified (Virginia Commonwealth University) participated in the 2014/2015 survey. Verisight created a custom peer group based on the remaining 25 academic institutions selected by the University of Louisville as peers.

Verisight was able to download individual participant base salary data for similar positions, which are shown in the appendices; however, the individual institutions are not identified by name so as to protect their confidentiality.

The AHESS survey only reports base salary data.



Summary of Base Salary, Total Cash, and

Total Compensation Findings


Summary of Base Salary Findings - Median

Position IncumbentIncumbent

Base Salary

The Chronicle of

Higher Education

(President Only)

Form 990s CUPA

Median

Base

Salary

Compa-

Ratio

Median

Base

Salary

Compa-

Ratio

Median

Base

Salary

Compa-

Ratio

President*Dr. James

Ramsey$648,961 $518,250 125.2% $459,550 141.2% $479,354 135.4%


Willihnganz$394,533 N/A N/A $353,816 111.5% $404,500 97.5%

SVP Finance and

Administration/COOHarlan Sands $350,000 N/A N/A $345,077 101.4% $263,196 133.0%

EVP Health AffairsDr. David

Dunn$1,047,280 N/A N/A $875,172 119.7% $811,446 129.1%

EVP ResearchDr. William

Pierce$316,050 N/A N/A $284,203 111.2% $336,834 93.8%

VP Strategy and

General CounselLeslie Strohm $350,000 N/A N/A $478,011 73.2% $254,975 137.3%

*Presidents base salary would be above the 75th percentile when compared to all data sources. Of The Chronicle of Higher Education peers, 3

of 23 had a higher base salary. Of the Form 990 peers, 2 of 11 had a higher base salary. And of the CUPA peers, none of 17 had a higher base

salary.


Summary of Total Cash Compensation (Base Salary + Annual Incentives) Findings -Median


Total Cash

The Chronicle of Higher

Education (President Only)Form 990s

Median Total

CashCompa-Ratio

Median Total

CashCompa-Ratio

President* Dr. James Ramsey $648,961 $535,600 121.2% $511,336 126.9%


Willihnganz$460,436 N/A N/A $353,816 130.1%

SVP Finance and

Administration/COOHarlan Sands $420,000 N/A N/A $354,066 118.6%

EVP Health Affairs Dr. David Dunn $1,047,280 N/A N/A $875,172 119.7%

EVP Research Dr. William Pierce $316,050 N/A N/A $284,203 111.2%

VP Strategy and General

CounselLeslie Strohm $390,000 N/A N/A $499,229 78.1%

*Presidents total cash compensation would be above the 75th percentile when compared to all data sources. Of The Chronicle of Higher

Education peers, 5 of 23 had a higher total cash compensation. And of the Form 990 peers, 2 of 11 had a higher total cash compensation.


Summary of Total Compensation (Total Cash + Deferred Compensation and Benefits) Findings - Median


Total Comp


Education (President Only)Form 990s

Median Total

CompCompa-Ratio

Median Total

CompCompa-Ratio

President* Dr. James Ramsey $1,672,114 $690,718 242.1% $615,221 271.8%


Willihnganz$690,026 N/A N/A $421,480 163.7%

SVP Finance and

Administration/COOHarlan Sands $546,250 N/A N/A $410,657 133.0%

EVP Health Affairs Dr. David Dunn $1,125,826 N/A N/A $1,236,568 91.0%

EVP Research Dr. William Pierce $379,754 N/A N/A $346,374 109.6%

VP Strategy and General

CounselLeslie Strohm $416,250 N/A N/A $600,801 69.3%

*Presidents total compensation would be above the 75th percentile when compared to all data sources. Of The Chronicle of Higher Education

peers, none of 23 had a higher total compensation. And of the Form 990 peers, none of 11 had a higher total compensation.


Findings and Preliminary

Recommendations

Findings and Recommendations

University of Louisville executives are generally at or above the market. Dr. Ramsey has been President since November 2002 and due to his long tenure and high

performance, is at the high end of the market. His salary is below the 90th percentile of the 990 peer group data (ACC schools).

A significant portion of Dr. Ramseys past and future compensation is from tax gross-up payments. Tax gross-ups are used to reimburse him for the taxes due on his income. In other words, if he is promised $500,000, the actual check might be issued for $1,000,000. This would leave the promised $500,000 after the required taxes had been deducted. The gross-up payment itself also is taxable to the employee and subject to withholding and payroll tax.

Tax gross-ups are not common practice and should be eliminated, going forward. Currently Dr. Ramsey receives tax gross-ups on contributions to his deferred compensation plan,

earnings on the deferred compensation account and on bonus payments made to his deferred compensation.

In FY 2014 Dr. Ramseys tax gross-up payment is projected to be $873,422 (based on University projections), which will bring his FY 2014 compensation to over $2 million. While his 2014 tax gross up is high due to his $500,000 deferred compensation award, it will still be approximately $600,000 going forward.

If the Board continues to pay Dr. Ramsey at current levels, we recommend tying more compensation to performance rather than to tax gross-up payments.

.


Findings and Recommendations (continued)

Deferred compensation plans are used by many Universities and are considered common practice. The current vesting schedule used by the Universitys plan is too short and should be at least 3 years. The is no retention element if the deferred compensation award vests immediately.

A more detailed analysis should be conducted to determine if the deferred compensation plans are structured to meet the Universitys objectives.

The current compensation philosophy is (appears) to pay market salaries, incentives and provide deferred compensation plans. We recommend the University develop a formal executive compensation philosophy document which would be used as a guide for future compensation decisions.

Matching executives to the market is not an exact science. We used three data sources to mitigate this weakness: peer group 990s and survey data available from The Chronical of Higher Education and CUPA.

The peer group 990 data may be understated, as many report income from multiple sources. Although we did review foundation 990s, its impossible to know if we captured the complete picture from the 990s. A custom survey should be considered.

Name of Presentation 28

Next Steps

Review compensation data from preliminary report with the University of Louisville Compensation Committee. COMPLETED

Decide on whether to conduct a custom compensation survey that could be used to gather specific compensation data, at peer universities willing to participate, for similar executive positions.



Appendix A President


Summary of Compensation Data Sources - President


EducationForm 990s CUPA

Base Salary

25th Percentile $455,391 $424,173 $445,946

Median $518,250 $460,808 $479,354

Average $516,081 $496,760 $460,426

75th Percentile $549,351 $563,518 $530,349

Total Cash Compensation (Base Salary + Annual Incentives)

25th Percentile $468,019 $424,173 N/A

Median $535,600 $511,336 N/A

Average $543,544 $518,100 N/A

75th Percentile $628,047 $585,903 N/A

Total Compensation (Total Cash + Deferred Compensation and Benefits)

25th Percentile $568,094 $479,407 N/A

Median $690,718 $615,221 N/A

Average $662,393 $674,834 N/A

75th Percentile $749,013 $887,521 N/A


The Chronicle of Higher Education Compensation Data

President

UniversityFiscal Year

End Name

Base Compensation

(Aged to 7/1/2015)

Bonus Pay (Aged to 7/1/2015)

Total Cash Compensation

(Aged to 7/1/2015)

Deferred Compensation Set Aside and

Retirement (Aged to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Severance (Aged to 7/1/2015)

Deferred Compensation from Previous Year Paid in Current Year

(Aged to 7/1/2015)

Georgia institute of Technology (GA Tech) 6/30/2014 G.P. (Bud) Peterson $453,200 $0 $453,200 $351,942 $805,142 $0 $0North Carolina State University 9/30/2014 W. Randolph Woodson $531,657 $0 $531,657 $92,216 $623,873 $0 $0Rutgers University 6/30/2014 Robert L. Barchi $669,113 $92,700 $761,813 $25,874 $787,686 $0 $0SUNY Stony Brook 6/30/2014 Samuel L Stanley Jr. $669,500 $0 $669,500 $21,218 $690,718 $0 $0Temple University 6/30/2014 Neil D. Theobald $463,500 $30,900 $494,400 $240,153 $734,553 $0 $0University of California - Irvine 6/30/2014 Michael V. Drake $403,760 $0 $403,760 $20,198 $423,958 $0 $0University of California - San Diego 6/30/2014 Pradeep K. Khosla $423,417 $0 $423,417 $0 $423,417 $0 $0SUNY Buffalo 6/30/2014 Satish K Tripathi $669,500 $0 $669,500 $26,874 $696,374 $0 $0University of Alabama at Birmingham 9/30/2014 Ray Watts $457,583 $107,354 $564,936 $0 $564,936 $0 $0University of Cincinnati 6/30/2014 Santa Ono $540,750 $0 $540,750 $30,502 $571,252 $0 $103,000University of Iowa 6/30/2014 Sally Mason $528,702 $0 $528,702 $181,280 $709,982 $0 $0University of Kentucky 6/30/2014 Eli Capilouto $551,565 $157,075 $708,640 $257,835 $966,475 $0 $0University of New Mexico 6/30/2014 Robert G Frank $369,307 $0 $369,307 $103,000 $472,307 $0 $0University of North Carolina at Chapel Hill 6/30/2014 Carol L Folt $535,600 $0 $535,600 $18,141 $553,741 $0 $0University of Pittsburgh 6/30/2014 Mark Nordenberg $615,425 $0 $615,425 $73,851 $689,276 $0 $0University of South Carolina 6/30/2014 Harris Pastides $547,136 $0 $547,136 $161,514 $708,650 $0 $0University of South Florida 6/30/2014 Judy L Genshaft $484,100 $192,121 $676,221 $122,937 $799,157 $0 $65,045University of Utah 6/30/2014 David W. Pershing $369,616 $0 $369,616 $326,465 $696,080 $0 $83,249


The Chronicle of Higher Education Compensation Data (continued)

President

UniversityFiscal Year

End Name

Base Compensation

(Aged to 7/1/2015)

Bonus Pay (Aged to 7/1/2015)


(Aged to 7/1/2015)

Deferred Compensation Set Aside and

Retirement (Aged to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Severance (Aged to 7/1/2015)

Deferred Compensation from Previous Year Paid in Current Year

(Aged to 7/1/2015)

University of Virginia 6/30/2014 Teresa A. Sullivan $509,541 $0 $509,541 $253,933 $763,474 $0 $0University of Washington 6/30/2014 Michael K. Young $640,668 $0 $640,668 $26,780 $667,448 $0 $0University of Illinois at Chicago 6/30/2014 Paula Allen-Meares $435,132 $0 $435,132 $30,101 $465,232 $0 $463,500Virginia Commonwealth University 6/30/2014 Michael Rao $518,250 $51,500 $569,750 $225,260 $795,010 $0 $0Wayne State University 9/30/2014 M. Roy Wilson $482,837 $0 $482,837 $143,464 $626,302 $0 $0

25th Percentile $455,391 $0 $468,019 $26,327 $568,094 $0 $0Median $518,250 $0 $535,600 $92,216 $690,718 $0 $0

Average $516,081 $27,463 $543,544 $118,849 $662,393 $0 $31,07875th Percentile $549,351 $15,450 $628,047 $203,270 $749,013 $0 $0

Not Included Due to Partial Year CompensationClemson University 6/30/2014 James P. Clements $387,866 $0 $387,866 $21,128 $408,994 $0 $0 (a)Florida State University 6/30/2014 Eric J. Barron $332,887 $239,990 $572,877 $58,113 $630,989 $96,572 $0 (b)Virginia Polytechnice Institute and State University (Virginia Tech) 6/30/2014 Charles W. Steger $480,177 $26,192 $506,369 $35,157 $541,526 $0 $261,182 (c)

(a) Started position in December, 2013(b) Left position in April, 2014(c) Left position in May, 2014


Form 990 Compensation DataPresident

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)

Bonus & Incentive (Aged to 7/1/2015)


(Aged to 7/1/2015)

Other Reportable

Compensation (Aged to 7/1/2015)

Retirement and Other Deferred Compensation

(Aged to 7/1/2015)

Nontaxable Benefits (Aged

to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Clemson University 6/30/2013 James Barker $420,119 $0 $420,119 $1,509 $35,096 $16,555 $473,278 (b)Georgia institute of Technology (GA Tech) 6/30/2013 George Peterson $460,808 $0 $460,808 $12,731 $0 $11,998 $485,537 (c)SUNY Buffalo 6/30/2014 Satish Tripathi $400,313 $0 $400,313 $0 $26,265 $18,838 $445,415 (d)SUNY Stony Brook 6/30/2013 Dr. Samuel Stanley $265,225 $0 $265,225 $0 $0 $0 $265,225Temple University 6/30/2013 Richard Englert $458,291 $53,045 $511,336 $21,326 $64,948 $17,611 $615,221 (e)University of Alabama at Birmingham 9/30/2013 Ray Watts $707,133 $136,914 $844,047 $4,338 $181,584 $48,429 $1,078,398 (f)University of Kentucky 6/30/2014 Eli Capilouto $525,300 $0 $525,300 $55,829 $254,281 $18,555 $853,966University of Pittsburgh 6/30/2013 Mark Nordenberg $600,100 $0 $600,100 $28,840 $72,661 $73,050 $774,651University of Utah 6/30/2014 David Pershing $428,228 $0 $428,228 $0 $100,407 $0 $528,635University of Virginia 6/30/2013 Teresa Sullivan $671,914 $0 $671,914 $0 $244,983 $4,180 $921,077Virginia Polytechnic Institute and State University (Virginia Tech) 6/30/2013 Charles Steger $526,936 $44,770 $571,706 $21,218 $347,820 $41,023 $981,767

25th Percentile $424,173 $0 $424,173 $0 $30,680 $8,089 $479,407Median $460,808 $0 $511,336 $4,338 $72,661 $17,611 $615,221

Average $496,760 $21,339 $518,100 $13,254 $120,731 $22,749 $674,83475th Percentile $563,518 $22,385 $585,903 $21,272 $213,284 $29,930 $887,52190th Percentile $671,914 $53,045 $671,914 $28,840 $254,281 $48,429 $981,767

Not Included Due to Partial Year CompensationFlorida State University 6/30/2014 Eric Barron $417,678 $239,990 $657,668 $7,631 $70,199 $15,703 $751,202 (a)

(a) Left position in April, 2014(b) Combined University of Clemson to better compare with Chronicle of Higher Education(c) Removed Georgia Tech Athletic Association -2013; combined Georgia Tech Foundation(d) Removed SUNY Buffalo Foundation - previous tax year(e) Removed Temple University Health System(f) Removed University of Alabama Educational Foundation and Health Services Foundations to better compare with Chronicle of Higher Education(g) Removed University of Louisville Athletic Association and Research Foundation


CUPA Compensation Data

CEO, Single Inst/Campus in System

UniversityBase Compensation

(Aged to 7/1/2015)Survey Data Source #1 (confidential) $546,157Survey Data Source #2 (confidential) $536,293Survey Data Source #3 (confidential) $535,448Survey Data Source #4 (confidential) $530,349Survey Data Source #5 (confidential) $530,349Survey Data Source #6 (confidential) $509,951Survey Data Source #7 (confidential) $494,652Survey Data Source #8 (confidential) $492,612Survey Data Source #9 (confidential) $479,354Survey Data Source #10 (confidential) $458,956Survey Data Source #11 (confidential) $456,457Survey Data Source #12 (confidential) $447,273Survey Data Source #13 (confidential) $445,946Survey Data Source #14 (confidential) $431,844Survey Data Source #15 (confidential) $392,662Survey Data Source #16 (confidential) $291,896Survey Data Source #17 (confidential) $247,040

25th Percentile $445,946Median $479,354

Average $460,42675th Percentile $530,349


Appendix B EVP Provost


Summary of Compensation Data Sources EVP Provost

Form 990s CUPA

Base Salary

25th Percentile $265,208 $373,109

Median $353,816 $404,500

Average $323,092 $399,889

75th Percentile $382,700 $425,744


25th Percentile $267,197 N/A

Median $353,816 N/A

Average $328,330 N/A




Median $421,480 N/A




Form 990 Compensation Data

EVP Provost

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)



(Aged to 7/1/2015)

Other Reportable



(Aged to 7/1/2015)


to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Clemson University 6/30/2013 Doris Helms $280,108 $2,652 $282,761 $866 $40,182 $9,402 $333,210Georgia institute of Technology (GA Tech) 6/30/2013 Rafael Bras $403,300 $0 $403,300 $10,609 $143,103 $16,347 $573,359SUNY Stony Brook 630/2013 Dr. Dionissios Assanis $220,506 $0 $220,506 $0 $0 $0 $220,506Temple University 6/30/2013 Dai Hai-Lung $434,548 $39,253 $473,801 $62,877 $41,126 $17,611 $595,415University of Alabama at Birmingham 9/30/2013 Linda Lucas $362,419 $0 $362,419 $2,210 $54,966 $12,139 $431,734University of Kentucky 6/30/2014 Tim Tracy $345,213 $0 $345,213 $5,050 $45,786 $15,178 $411,226University of Pittsburgh 6/30/2013 Patricia Beeson $375,833 $0 $375,833 $22,252 $45,462 $12,402 $455,949University of Utah 6/30/2014 Ruth Watkins $162,807 $0 $162,807 $0 $40,479 $12,041 $215,327


Average $323,092 $5,238 $328,330 $12,983 $51,388 $11,890 $404,59175th Percentile $382,700 $663 $382,700 $13,520 $48,081 $15,470 $485,302



Chief Acad Affairs Officer & Provost


(Aged to 7/1/2015)Survey Data Source #1 (confidential) $530,349Survey Data Source #2 (confidential) $446,019Survey Data Source #3 (confidential) $444,677Survey Data Source #4 (confidential) $428,359Survey Data Source #5 (confidential) $428,359Survey Data Source #6 (confidential) $417,898Survey Data Source #7 (confidential) $416,895Survey Data Source #8 (confidential) $414,947Survey Data Source #9 (confidential) $406,139Survey Data Source #10 (confidential) $402,861Survey Data Source #11 (confidential) $400,310Survey Data Source #12 (confidential) $382,463Survey Data Source #13 (confidential) $378,705Survey Data Source #14 (confidential) $371,244Survey Data Source #15 (confidential) $355,202Survey Data Source #16 (confidential) $329,587Survey Data Source #17 (confidential) $322,725Survey Data Source #18 (confidential) $321,269




Appendix C SVP Finance and

Administration/COO


Summary of Compensation Data Sources SVP Finance and Administration/COO

Form 990s CUPA

Base Salary

25th Percentile $303,025 $248,658

Median $345,077 $263,196

Average $330,590 $277,696

75th Percentile $371,296 $305,970



Median $354,066 N/A





Median $410,657 N/A





SVP Finance and Administration/COO

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)



(Aged to 7/1/2015)

Other Reportable



(Aged to 7/1/2015)


to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Clemson University 6/30/2014 Brett Dalton $331,570 $0 $331,570 $0 $47,716 $5,915 $385,201Temple University 6/30/2013 Anthony Wagner $450,478 $26,523 $477,001 $34,203 $41,127 $17,611 $569,942University of Alabama at Birmingham 9/30/2013 Richard Margison $383,341 $50,488 $433,830 $5,574 $55,151 $11,333 $505,887University of Kentucky 6/30/2014 Eric Monday $358,584 $0 $358,584 $23,936 $36,591 $17,001 $436,112University of Pittsburgh 6/30/2013 Arthur Ramicone $367,281 $0 $367,281 $26,671 $53,910 $14,917 $462,779University of Virginia 6/30/2013 Patrick Hogan $147,985 $0 $147,985 $0 $30,420 $2,472 $180,877Virginia Polytechnic Institute and State University (Virginia Tech) 6/30/2013 Dwight Shelton $302,166 $9,181 $311,347 $0 $26,735 $14,288 $352,369Wayne State University 9/30/2013 Richard J Nork $303,311 $46,236 $349,547 $0 $0 $0 $349,547

25th Percentile $303,025 $0 $326,514 $0 $29,499 $5,054 $351,664Median $345,077 $4,591 $354,066 $2,787 $38,859 $12,810 $410,657

Average $330,590 $16,553 $347,143 $11,298 $36,456 $10,442 $405,34075th Percentile $371,296 $31,451 $383,918 $24,620 $49,264 $15,438 $473,556



Chief Financial Officer


(Aged to 7/1/2015)Survey Data Source #1 (confidential) $392,662Survey Data Source #2 (confidential) $379,913Survey Data Source #3 (confidential) $316,169Survey Data Source #4 (confidential) $305,970Survey Data Source #5 (confidential) $268,397Survey Data Source #6 (confidential) $267,555Survey Data Source #7 (confidential) $263,196Survey Data Source #8 (confidential) $254,975Survey Data Source #9 (confidential) $252,980Survey Data Source #10 (confidential) $248,658Survey Data Source #11 (confidential) $244,183Survey Data Source #12 (confidential) $213,957Survey Data Source #13 (confidential) $201,431




Appendix D EVP Health Affairs


Summary of Compensation Data Sources EVP Health Affairs

Form 990s CUPA

Base Salary

25th Percentile $817,193 $705,317

Median $875,172 $811,446

Average $1,008,505 $822,187

75th Percentile $1,066,484 $870,103



Median $875,172 N/A

Average $1,035,027 N/A

75th Percentile $1,093,006 N/A



Median $1,236,568 N/A

Average $1,257,814 N/A

75th Percentile $1,506,298 N/A



EVP Health Affairs

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)



(Aged to 7/1/2015)

Other Reportable



(Aged to 7/1/2015)


to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Temple University 6/30/2013 Larry Kaiser $1,469,038 $106,090 $1,575,128 $21,077 $0 $21,880 $1,618,085University of Kentucky Research Foundation 6/30/2014 Dr. Michael Karpf $814,638 $0 $814,638 $296,416 $343,670 $14,311 $1,469,035University of Pittsburgh 6/30/2013 Arthur Levine $818,044 $0 $818,044 $76,050 $31,827 $14,114 $940,035University of Utah Research Foundation 6/30/2014 Vivian Lee $932,299 $0 $932,299 $0 $71,801 $0 $1,004,101

25th Percentile $817,193 $0 $817,193 $15,808 $23,870 $10,586 $988,084Median $875,172 $0 $875,172 $48,563 $51,814 $14,213 $1,236,568

Average $1,008,505 $26,523 $1,035,027 $98,386 $111,825 $12,576 $1,257,81475th Percentile $1,066,484 $26,523 $1,093,006 $131,141 $139,768 $16,203 $1,506,298



Chief Health Affairs Officer


(Aged to 7/1/2015)Survey Data Source #1 (confidential) $1,631,842Survey Data Source #2 (confidential) $979,105Survey Data Source #3 (confidential) $833,769Survey Data Source #4 (confidential) $832,469Survey Data Source #5 (confidential) $790,424Survey Data Source #6 (confidential) $720,010Survey Data Source #7 (confidential) $661,239Survey Data Source #8 (confidential) $128,636




Appendix E EVP Research


Summary of Compensation Data Sources EVP Research

Form 990s CUPA

Base Salary

25th Percentile $268,588 $305,892

Median $284,203 $336,834

Average $305,960 $333,514

75th Percentile $300,117 $361,954



Median $284,203 N/A





Median $346,374 N/A





EVP Research

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)



(Aged to 7/1/2015)

Other Reportable



(Aged to 7/1/2015)


to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Clemson University 6/30/2014 Larry Dooley $268,588 $0 $268,588 $0 $41,739 $9,319 $319,646Florida State University 6/30/2014 Gary Ostrander $300,117 $251 $300,369 $1,448 $28,853 $15,703 $346,374University of Alabama at Birmingham 9/30/2013 Richard Marchase $421,026 $11,235 $432,261 $3,943 $64,965 $13,040 $514,209University of Kentucky 6/30/2014 Lisa Cassis $255,865 $0 $255,865 $1,174 $25,866 $8,819 $291,725University of Utah 6/30/2014 Thomas Parks $284,203 $0 $284,203 $0 $72,896 $0 $357,099


Average $305,960 $2,297 $308,257 $1,313 $46,864 $9,376 $365,81075th Percentile $300,117 $251 $300,369 $1,448 $64,965 $13,040 $357,099



Chief Research Officer


(Aged to 7/1/2015)Survey Data Source #1 (confidential) $415,120Survey Data Source #2 (confidential) $395,314Survey Data Source #3 (confidential) $395,127Survey Data Source #4 (confidential) $387,562Survey Data Source #5 (confidential) $376,921Survey Data Source #6 (confidential) $356,965Survey Data Source #7 (confidential) $356,965Survey Data Source #8 (confidential) $345,002Survey Data Source #9 (confidential) $338,709Survey Data Source #10 (confidential) $338,183Survey Data Source #11 (confidential) $335,485Survey Data Source #12 (confidential) $329,896Survey Data Source #13 (confidential) $324,604Survey Data Source #14 (confidential) $313,784Survey Data Source #15 (confidential) $309,265Survey Data Source #16 (confidential) $295,772Survey Data Source #17 (confidential) $291,692Survey Data Source #18 (confidential) $290,672Survey Data Source #19 (confidential) $254,975Survey Data Source #20 (confidential) $218,259




Appendix F VP Strategy and General

Counsel


Summary of Compensation Data Sources VP Strategy and General Counsel

Form 990s CUPA

Base Salary

25th Percentile Insufficient data (2 data points) $210,865

Median Insufficient data (2 data points) $254,975

Average Insufficient data (2 data points) $253,361

75th Percentile Insufficient data (2 data points) $295,628


25th Percentile Insufficient data (2 data points) N/A

Median Insufficient data (2 data points) N/A

Average Insufficient data (2 data points) N/A




Median Insufficient data (2 data points) N/A

Average Insufficient data (2 data points) N/A




VP Strategy and General Counsel

UniversityTax Year

End Name

Base Compensation

(Aged to 7/1/2015)



(Aged to 7/1/2015)

Other Reportable



(Aged to 7/1/2015)


to 7/1/2015)

Total Compensation

(Aged to 7/1/2015)

Temple University 6/30/2013 George Moore $446,010 $42,436 $488,446 $4,463 $64,948 $17,611 $575,468University of Pittsburgh 6/30/2013 Jerome Cochran $510,013 $0 $510,013 $27,972 $74,460 $13,689 $626,134



Chief Legal Affairs Officer


(Aged to 7/1/2015)Survey Data Source #1 (confidential) $372,264Survey Data Source #2 (confidential) $338,918Survey Data Source #3 (confidential) $331,468Survey Data Source #4 (confidential) $305,970Survey Data Source #5 (confidential) $300,871Survey Data Source #6 (confidential) $295,771Survey Data Source #7 (confidential) $295,484Survey Data Source #8 (confidential) $279,453Survey Data Source #9 (confidential) $275,914Survey Data Source #10 (confidential) $270,503Survey Data Source #11 (confidential) $268,539Survey Data Source #12 (confidential) $254,975Survey Data Source #13 (confidential) $250,896Survey Data Source #14 (confidential) $245,771Survey Data Source #15 (confidential) $238,788Survey Data Source #16 (confidential) $221,866Survey Data Source #17 (confidential) $221,676Survey Data Source #18 (confidential) $200,055Survey Data Source #19 (confidential) $188,682Survey Data Source #20 (confidential) $183,307Survey Data Source #21 (confidential) $174,612Survey Data Source #22 (confidential) $161,873Survey Data Source #23 (confidential) $149,653



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