voluntarily or involuntarily, Dr. Akakpo shall vacate the residence no more than thirty (30) days after such date of termination. It is understood and agreed by the parties that this residence is located on the University’s business premises and is furnished for the convenience of the University. The parties agree that it is permissible for Dr. Akakpo to use Hillcrest for the purposes of entertainment and University advancement. In the event that Dr. Akakpo elects not to reside at Hillcrest, he agrees to pay for all housing and other related expenses.

Section 4.7: Technology Support: The University shall provide Dr. Akakpo with reasonable and appropriate technology support, including any computers, smartphones, or tablets that are necessary for him to conduct University-related business. There may be tax consequences to this benefit.

Section 4.8: Moving Expenses: The University agrees to reimburse Dr. Akakpo up to Fifteen Thousand Dollars ($15,000.00) for any reasonable moving-related expenses that he may incur as a consequence of his transition to the University. Any such reimbursement shall be made in accordance with University travel policies and the laws of the Commonwealth of Kentucky. To be eligible for reimbursement, Dr. Akakpo must submit original or certified copies of any receipts.

Section 4.9: Merit Incentive: On an annual basis, based upon the fiscal year of the University, the Board may award Dr. Akakpo performance incentive compensation based upon his attainment of written goals or objectives previously established by the Board in consultation with Dr. Akakpo. The Board shall make its best efforts to provide Dr. Akakpo with these goals and objectives at least thirty (30) days preceding each fiscal year of the University during the Term of this Agreement. Dr. Akakpo shall be eligible to receive an annual incentive payment based upon certain performance metrics (weighted equally), with each performance metric being separately considered.

  • The University will provide Dr. Akakpo with an opportunity to earn a merit incentive bonus each year, with a maximum earning opportunity each fiscal year of Twenty Percent (20%) of his base salary; the highest salary paid to him during any fiscal year will serve as the base salary for purposes of calculating the incentive.
  • Elements which the Board will consider in determining whether to award Dr. Akakpo a merit incentive bonus include a demonstration that Dr. Akakpo has achieved the terms set forth in his annual performance plan. Each year, the Board and Dr. Akakpo will establish an annual performance plan for Dr. Akakpo which shall reflect on the University's mission, strategic plan, and mutually agreed-upon objectives, goals, and metrics.
  • Annually, the Board will review the performance of Dr. Akakpo and establish priorities, goals, and activities for him. The process of review will be undertaken substantially in conformance with the following:
  • No later than the first quarterly Board meeting of the calendar year, Dr. Akakpo will report, in writing, to the Executive Committee of the Board his performance, including the achievement of the priorities, goals, and activities which may have been identified by the Board as his performance for the previous year;
  • No later than the first quarterly Board meeting of the calendar year, the Executive Committee and Dr. Akakpo will meet to discuss the performance of Dr. Akakpo and the priorities, goals, and activities for the year to come;