Contract for MnSCU Chancellor Steven Rosenstone
Here's the three-year contract for MnSCU Chancellor-Elect Steven Rosenstone for you to check out.
It begins Aug. 1. Highlights are below, then comes the original document.
Here are what the highlights seem to be:
$360,000 base pay;
Up to $50,000 in annual performance pay;
Up to $3,000-per-month housing allowance;
$1,000-per-month transportation and "communication" allowance;
$833-per-month supplemental allowance for incidental expenses;
If terminated by MnSCU without cause, he gets up to a year's severance pay and up to $5,000 in outplacement services, plus reassignment to a 1-year Distinguished Senior Fellow for Academic Affairs position.
If "the contract is not renewed by the Parties," Rosenstone gets severance pay of six months' salary even if the board employs him in another capacity.
If MnSCU decides not to renew (unless for just cause), Rosenstone gets reassignment to a two-year Distinguished Senior Fellow for Academic Affairs position. The fellow position is at the chancellor's full rate of pay with most major benefits.
Rosenstone is also "on leave" from his tenured faculty position at the University of Minnesota, which the contract states does not constitute a conflict of interest.
That's my quick take. Read it yourself and see whether your interpretation differs. A few elements seem a little unclear, so I'll call for clarification.
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