Nobody advances David Koon’s reporting re a faculty source’s tip that the UCA Board today will buy out the four years remaining on President Lu Hardin’s contract, which pays about $253,000 a year. But AP and the Democrat-Gazette both say resignation is among the options on the table at the special called meeting today. And there’s little sign of faculty support for Hardin, primarily because of the infamous memo he wrote in support of his own pay raise that was presented as a memo from other top administrators.
If there is a $1 million buyout, it likely would be in addition to the $180,000 he’s accrued in a deferred compensation plan that has two more years to run. Presumably, the $120,000 in future potential payments would be lost. An early payoff of the $300,000 possible in that plan, plus negotiations for a new enhancement, set in motion the events that led to today’s Board of Trustees meeting.
For consideration: The Board of Trustees has not distinguished itself in this matter. If Hardin resigns in recognition of his inability to credibly lead, would it be wrong to suggest that the Board should make a similar gesture?