3. No later than the second quarterly Board meeting of the calendar year, the Executive Committee will review the performance of Dr. Akakpo with the full Board present and recommend in open session, and for Board approval, a list of priorities, goals, and activities for Dr. Akakpo for the year to come; and
4. No later than the second quarterly meeting of the Board of the calendar year, the Chair of the Board may prepare a report summarizing Dr. Akakpo's goals, objectives, and performance as President and may, after reviewing the content of the report with Dr. Akakpo, make the report public.
5. (d)The merit incentive bonus for any fiscal year of the University ending on June 30 shall be paid no later than August 31 of the same year.
6. (e)Even though a merit bonus may be warranted in any given year based on Dr. Akakpo’s successful achievement of the provisions in his annual performance plan, no merit bonus will be paid in any fiscal year in which the University is over budget or in a state of financial exigency. Further, no merit bonus will be paid in any fiscal year in which the University is incapable of providing a salary increase to all faculty and staff employees.

ARTICLE V: FACULTY RANK AND TENURE

Section 5.1: Faculty Rank: During his presidency, Dr. Akakpo will rank as a tenured professor of education at the University. The salary for Dr. Akakpo's faculty appointment shall be One Hundred Sixty-Two Thousand Five Hundred Dollars ($162,500.00).

Section 5.2: Tenure: During his presidency, Dr. Akakpo’s tenure status shall be subject to the same University rules and regulations as all other tenured faculty. If Dr. Akakpo’s employment as President of the University is terminated for cause, he must resign his tenure, and he will cease to be a member of the faculty. Dr. Akakpo may remain a tenured faculty member of the University under this Agreement if his employment as President of the University ends for any other reason aside from for cause.

ARTICLE VI: PROFESSIONAL ENGAGEMENTS AND OUTSIDE ACTIVITIES

Section 6.1: Professional Engagements: During the Term of this Agreement, Dr. Akakpo shall devote his work efforts to the University-related responsibilities assigned to him. However, Dr. Akakpo may devote a reasonable amount of time to professional, civic, community, religious, or charitable activities. With consent from the Chair of the Board, which shall not be unreasonably delayed or withheld, Dr. Akakpo may serve as a director, consultant, or in any other non-employment capacity of not more than a total of five (5) for-profit or nonprofit corporations (other than those entities which the President of the University has traditionally served in some capacity by virtue of his or her position as President or those entities on which it is advantageous to the University for the President to serve in some capacity). Dr. Akakpo may perform other charitable activities not expressly mentioned in this Section.

Section 6.2: Philanthropy and Civic Support: During the Term of this Agreement, Dr. Akakpo may also invest his personal assets, as he deems appropriate, so long as such investments do not interfere with the performance of the duties and responsibilities assigned to him by the Board or otherwise violate the conflict-of-interest policy of the University. Any personal income earned by the President in association with his outside activities shall have no effect on his compensation under this Agreement.