BOWIE, Md. (AP) — A state board has approved a revised compensation package for University System of Maryland Chancellor Robert Caret, after criticism about a $75,000 bonus approved in a closed meeting.
The Board of Regents voted Friday for a new agreement that doesn’t include a performance bonus provision, as the previous agreement did.
The vote puts into effect commitments the board made at the legislature’s Joint Education Subcommittee in August.
The chancellor’s base annual salary is now $630,000. It will continue to rise at least 5 percent annually unless prohibited by law.
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