Paul Ferguson signed his contract with Ball State on May 25 to be the university’s president, taking office Aug. 1 after Terry King’s short time as interim president.

Here are 12 notable parts of his  contract, which was provided to the Daily News.

1. Ferguson’s contract lasts for five years, ending June 30, 2019, but both the Board of Trustees and Ferguson “desire and anticipate“ the relationship to last longer. The board can offer extensions to Ferguson to keep him at Ball State.

2. After the first year of Ferguson’s tenure, he will meet with the Board of Trustees to have a performance review. Ferguson’s performance goals will be agreed upon beforehand by both parties.

3. Ferguson will receive a base annual salary of $450,000 before taxes. These will come in monthly payments of approximately $37,500.

4. Ferguson is allowed 12 workdays of sick leave per year.

5. He must live in Bracken House, the university-owned residence at 2200 W. Berwyn Road in Muncie. Ball State pays for all utilities associated with the house, except his personal telephone service. This include a “day” housekeeping service that the board will provide on what it considers a “need” basis.

6. Ferguson must regularly entertain people from the university, including “faculty, staff, students, alumni and friends of the university.” The board will furnish or pay for repairs, maintenance and decoration if they are what the board deems “necessary and reasonable.”

7. Ball State will give Ferguson an insured vehicle and pay for fuel used for university business or presidential duties.

8. The university will pay or reimburse Ferguson for any moving expenses it deems reasonable and necessary when he moves into Bracken House.

9. Ferguson will receive a Delaware Country Club membership at the expense of Ball State, which will pay monthly dues and expenses for university-related business at the club.

10. Ferguson gets 24 days of paid vacation each year. If he doesn’t use them, the days carry over for 90 days after the end of the fiscal year, but not year to year unless the board approves this in advance.

11. Ferguson may be terminated from his position for conduct “that would bring public disrespect, contempt or ridicule upon the university.“

12. If fired with cause, he wouldn’t be entitled to severance pay or benefits.

To view his contract in full, click here.

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