URBANA, Illinois — A University of Illinois trustees' committee has voted to eliminate a bonus for president Timothy Killeen worth $225,000 if stays in the job for five years.
The committee voted Thursday to send the proposal to the full Board of Trustees, The (Champaign) News-Gazette (http://bit.ly/1XFmhjE ) reports. The board will vote on the bonus at its Nov. 12 meeting in Chicago.
Killeen requested that the clause for deferred compensation be removed from his contract.
"This is very commendable, very honorable, and it should be noted given the focus on compensation issues," trustee and committee chairman Pat Fitzgerald said Thursday. "I very much admire the way President Killeen's gone about this."
The request came after debate over plans to pay Phyllis Wise a $400,000 retention payment as she resigned as the Urbana-Champaign campus's chancellor. The university backtracked on that plan.
Killeen's base salary is $600,000, and he can earn as much as $100,000 annually in performance bonuses. Those bonuses would remain if the deferred compensation is eliminated, trustee Patricia Brown Holmes said.
The committee also voted to move forward removing a $50,000 housing allowance for University of Illinois-Chicago Chancellor Michael Amiridis. He asked for the allowance to be revoked, saying he preferred to continue living in a campus-owned house.
Information from: The News-Gazette, http://www.news-gazette.com