New Missouri State president Richard Williams starts July 1. What to know about contract
Lynn Parman, chair of Missouri State' Board of Governors, said Richard "Biff" Williams was the unanimous choice to be the university's 12th president.
Williams signed the contract Saturday. He will start the job July 1. Here are the details:
The initial contract runs through June 30, 2029, so five years.
His annual salary will be $475,000. He will be paid $39,583 a month.
Each year, starting July 1, 2025, Williams' pay will increase by "at least the same percentage" as the across-the-board raises given to faculty and staff.
For context, the base salary for retiring MSU president Clif Smart is currently $427,409.
Williams will be provided an annual housing allowance of $50,000. He must live in the residence and it must be within 15 miles of Carrington Hall. The university will reimburse Williams for "all reasonable" moving expenses.
Health insurance will be fairly standard. He will be eligible to participate in the same health, dental and vision insurance plans provided by the university for faculty and staff.
Williams will receive retirement benefits as part of the Missouri State Employees' Retirement System, or MOSERS.
Each year, he will also be eligible for up to $50,000 in deferred compensation, based on the achievement of certain metrics, and the first set of goals will be agreed to by Aug. 31, 2024.
Williams will receive 20 days of paid vacation annually. It may be used or accrued, consistent with university policy. MSU will also pay "reasonable expenses" for his attendance at seminars, conventions and other meetings normally attended as part of his job and that will not be counted as vacation time.
Williams will also receive eight hours of paid sick leave for each pay period.
The university will provide Williams with a budget to entertain the faculty, staff, students and business guests of the university and for carrying out the duties of his office both on campus and off-campus, including at his home. That amount was not specified.
His membership to the Hickory Hills Country Club will be paid by the university.
Tickets for university events and venues will be made available as long as they are deemed "reasonably necessary" for entertaining and hosting including, without limitation, Hammons Student Center, Plaster Sports Complex, Great Southern Bank Arena, Coger Theater and Juanita K. Hammons Hall for the Performing Arts. He will be required to report that total amount of entertainment expenses, and the reasons, annually to the board.
More: Richard 'Biff' Williams named 12th president of Missouri State University
Williams will be evaluated annually by the board and that report is due by Nov. 1.
His employment can be terminated at any time for "just cause" such as violating the contract or university policies, breaking state or federal laws, moral turpitude, dishonesty, gross negligence, and insubordination. If such a termination is warranted, he will be provided a 10-day notice, during which he can mount a defense to any allegation.
If Williams is fired without just cause, the university agreed to pay damages "in an amount equal to 12 months of Dr. Williams' salary at the time."
If he opts to quit or retire, he is require to provide a 180-day notice.
This article originally appeared on Springfield News-Leader: Missouri State shares details of president Richard Williams' contract
