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University System of Maryland

State university system eliminates bonus for chancellor but adds deferred compensation

State university system eliminates bonus for chancellor but adds deferred compensation

The state university system's Board of Regents revised Chancellor Robert L. Caret's compensation package Friday to reflect a policy change announced in late August.

Caret's new employment contract does not include a performance bonus provision as the agreement did when he took the job leading the 12-campus University System of Maryland in 2015.

The board had previously changed its policy and eliminated bonus awards for the system's chancellor and campus presidents after being criticized by state lawmakers for a $75,000 bonus Caret would have received this year. Caret’s base salary of $630,000 did not change under Friday’s revision and includes a $30,000 raise...

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