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ISU President Given Raise, 5-Year Contract
AMES, IA (AP) -- Iowa State University President Steven Leath is getting a $33,000 raise and a new five-year contract.
The Board of Regents voted Thursday to boost Leath's pay by 7.1 percent to $500,000 after conducting a performance evaluation in closed session.
The board also approved a new five-year employment contract that makes Leath eligible for tenure and allows him to collect $625,000 in deferred compensation if he stays until 2019.
The move is a show of confidence in Leath, who has led the university since 2012. Board President Bruce Rastetter said Leath has improved the university's reputation nationally and managed its enrollment growth.
The board approved 2.5 percent increases for University of Iowa President Sally Mason and University of Northern Iowa President Bill Ruud, and continued their existing deferred compensation plans.
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