WKU regents approve changes to President Caboni’s contract
BOWLING GREEN, Ky. (WBKO) - The Western Kentucky University Board of Regents approved an addendum to President Caboni’s employment contract that includes retention and performance-based bonuses, a deferred compensation plan, separation payments, and an increase to his base salary.
“One of our primary roles as a board is to hire and retain the university’s president,” Regents Chair Frederick Higdon of Lebanon said. “After the outstanding evaluation he received in January and the ongoing remarkable performance increases at WKU, we wanted to ensure President Caboni remains with our university for many years to come. This contract both rewards that performance and incentivizes him to continue his leadership of WKU.”
President Caboni said he appreciates the board’s continued support,
“I look forward to the next four years as we continue working toward the goals we set in ‘Climbing to Greater Heights.’ Our success is a testament to the support we’ve built across campus and our focus on our students, our Hill, and our community, and beyond.
“I do not want to be any place but WKU. This is an amazing place.”
The contract, which runs through June 30, 2025, includes:
- A base salary of $450,000, up from the current base of $416,016.
- A performance-based bonus of 10 percent of the base salary for performance in areas such as the execution of the strategic plan, compliance with the state’s performance funding model, and year-over-year maintenance or improvements in a series of other areas.
- A deferred compensation plan, half of which is available to President Caboni should he stay through June 30, 2024, and 100 percent if he stays through June 30, 2025.
- Separation payments to the university should he leave for another administrative position in higher education prior to the end of his contract. Those payments would range from $900,000 if he leaves prior to June 30, 2023, to $250,000 prior to June 30, 2025.
In other business during the quarterly meeting, the Board:
- Approved a 10-year Campus Master Plan.
- Approved naming the Kentucky Building the Charles Hardcastle Kentucky Building in recognition of a gift from Charles and Carolyn Hardcastle.
- Approved a Master of Arts in Education degree in Instructional Leadership, School Principal.
- Approved emeritus appointments for Dr. Terry Wilson, environmental education; Dr. Thomas Nicholson, public health; and Linda Brown, agriculture and food science.
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