UT board approves contract, $392,700 salary for Naganathan

Nagi Naganathan’s contract as interim president was approved today by the UT Board of Trustees.

Naganathan will receive an annual salary of $392,700, the same as what Lloyd Jacobs made as president and what he will be paid during his sabbatical.

In addition, the University of Toledo will contribute $52,000 to Naganathan’s retirement account at the end of 2014 and 2015.

The agreement states that he can return to his previous position as dean of engineering after the contract expires. The contract is for 18 months or until a permanent president is named.

Naganathan will receive a monthly car allowance of $700, among various other benefits.