A draft five-year contract would pay Garrey Carruthers a $385,000 annual salary to be New Mexico State University's president. The salary is the same as former NMSU President Barbara Couture received, and she got $453,000 under a separation agreement with the regents.
But Carruthers would not receive a separation payment, according to the contract. It states that if the five-year contract is terminated early, the "...President shall only be entitled to such compensation including any unpaid accrued benefits as may be allowable pursuant to university policy and no other amounts."
The regents could terminate the contract immediately by a majority vote, but it requires Carruthers to give six months' notice if he resigns. He'd otherwise be liable for six months of salary.
The regents chose Carruthers last week.
Copyright 2013 The Associated Press.