Bill Beekman will earn a base salary of $750,000 as Michigan State University's Athletic Director.
FOX 47 obtained a copy of Beekman's contract on Wednesday morning, one day after the Board of Trustees officially approved his hiring.
Here are some details:
-The contract is five years, with the initial term ending July 31, 2023.
-Beekman is eligible for annual performance bonus of up to $100,000, which is at the sole discretion of the president. Criteria for the bonus include compliance with Big 10 rules, academic success, and financial and fundraising goals.
-A university-leased car for business and personal use.
-Complimentary tickets to university sporting events.
-Reimurbursement for travel and entertainment expenses when performing job related duties.
The contract allows the University to fire Beekman with cause at any time. If the contract is terminated without cause, Beekman will be assigned as Vice President and Senior Consultant to the Offices of the Provost, and the Vice President for Finance and Operations. In that event, his base salary would be cut in half.
