Ohio State trustees extend president’s contract by 2 years
COLUMBUS, Ohio (AP) — Ohio State University trustees have extended the contract of university president Michael Drake by two years.
Trustees voted Friday to extend Drake’s contract until June 30, 2021, two years after his five-year contract was set to expire.
The move was a first for the university, which typically looks at contract extensions in the last year of a president’s term.
The extension maintains Drake’s salary of $832,000 but raises current benefits including a car and social-club memberships to $100,000 annually.
Trustees also provided Drake with medical care for life through the university’s Wexner Medical Center, and created a retirement benefit through a life insurance package.
Drake is also eligible to buy football and men’s basketball tickets for life.