Donor offers to pay UofL president’s bonus
LOUISVILLE, Ky. (AP) — A University of Louisville donor says he’ll use part of his $10 million gift to the school to "totally fund" incentive compensation for school President James Ramsey and his top administrators.
In a letter to The Courier-Journal, J.D. Nichols says he wants to end the "unwarranted and damaging criticism" of Ramsey and the university’s foundation. Nichols, chairman of NTS Corp., says he’ll pay for extra compensation previously provided to Ramsey and other top school officials.
UofL trustees last week cut in half a proposed 6 percent merit increase for Ramsey.
The Louisville newspaper (http://cjky.it/1LCUsDH ) reports the vote came after a consultant said Ramsey’s total pay this year is $1.67 million and was $2.5 million in 2014. The board recommended that Ramsey get a bonus of 25 percent of his base salary.