The Arizona Board of Regents approved a three-year contract worth more than $1 million for new board President Eileen Klein.
Klein will receive $300,000 per year, along with an additional $54,000 annual contribution to a pension plan. The contract runs from February 2013 to June 2016.
The salary and pension benefits are nearly identical to those of Tom Anderes, whom Klein replaced as ABOR president this month.
Klein is also eligible for $10,000 in performance incentives per year, as well as an additional $15,000 incentive available to Klein and the three university presidents for the contract year ending in June 2013.