Regent Moyer sought clarification as to the Committee’s current position regarding the President’s compensation.

Regent Hatchett queried whether the President was aware that he was not currently eligible for a salary increase under the terms of his contract.

Chair Dukes suggested a $20,000 one-time payment and requested feedback from Committee members.

Regent Adams inquired into the percentage of the President's salary that $20,000 would equate to.

Regent Hatchett asked whether the Board could potentially make a $20,000 contribution in the President's name to the Endowment Fund.

Chair Dukes asked Regent Hatchett whether he was proposing that a contribution to the Endowment Fund would be in lieu of a payment made directly to the President.

Regent Moyer queried how a payment to the Endowment would work relative to taxes and the budget.

Attorney Atwell clarified permissible sources of funding for a potential payment to the Endowment, then recapped the terms of the President’s contract.

Regent Hatchett sought clarification as to the language that would authorize the Board to approve a one-time payment to the President.

Chair Dukes requested all Committee members to share their thoughts on giving the President a one-time payment.

Regents Fields, Walston, Moyer, and Adams expressed support for awarding the President a $20,000 one-time payment.

Regent Hatchett queried whether the amount should be $15,000 or $20,000, questioning the optics of authorizing the lesser amount.

Regent Moyer inquired into the amount of the President's base salary.

Regent Walston queried into the status of Hillcrest House renovations.

Move the Committee to recommend that the Board provide President Akakpo with a $20,000 one-time payment in lieu of a merit incentive payment. Second by Regent Walston and passed without dissent.

MOTION by Regent Moyer:

Move the Board to adjourn.

Seconded by Regent Fields and passed without dissent.