The terms of the 2014-2019 employment agreement are similar to those in the current agreement, except for two significant items. The new agreement provides for the president to receive an annual salary of $350,000, which is an increase of 11 percent in the salary he has been receiving since his tenure began in August of 2009, except for the two years during which he voluntarily took an eight percent reduction in salary.[1]
The second difference in the new agreement is that President Hall made a commitment in the agreement to raise donations in an aggregate amount of not less than $22.5 million during the term of the agreement. This amount must consist of gifts of $100,000 or more, solicited by him, or obtained through fundraising programs initiated or developed by him.
UVI Board Chair Moorhead stated that he is happy that the Board and President Hall were able to reach an agreement to retain the president’s service as the chief executive officer of the University for five more years. “President Hall’s job performance has been rated by the Board as exceptional for four consecutive years as the result of his setting and achieving high goals and serving as an excellent ambassador for the University,” Moorhead stated. “The Board of Trustees looks forward to President Hall’s continued exceptional service as the chief executive officer of the University as the institution proceeds on the ‘Pathways to Greatness’[2],” Moorhead concluded.
The vote was as follows regarding the matter:
Members voting in favor:
- Joshua Edwards
- Carol Fulp
- Luz Highfield
- Alexander Moorhead
- Henry Smock
- Edward Thomas
- Teresa Turner
- Wesley Williams
Members voting not in favor:
- Oswin Sewer
- Patricia Steele
- Yvonne Thraen
- Sinclair Wilkinson
Members abstaining from the vote:
- Jacqueline A. Sprauve
Members absent from the meeting:
- Donna Frett Gregory
- Gwen Norton
- Jennifer Nugent-Hill
- David Hall
[1] An eight percent reduction of the salary of employees of autonomous and semi-autonomous entities of the GVI from July 2011 to July 2013 was mandated by Act No. 7261. President Hall took the reduction in order to make the financial sacrifice with other employees of the University, despite the fact that his salary was fixed by a contract and therefore any reduction imposed on him would have violated the contract.
[2] Pathways to Greatness is the title of the University’s Strategic Plan for the period 2012-2017.