University of Toledo President Dr. Lloyd Jacobs has received a two-year contract extension with a longevity bonus if he stays five more years.
Dr. Jacobs, who became present of UT in July, 2006 after it merged with the former Medical University of Ohio, will serve as the university s leader through Nov. 16, 2013.
His previous contract expired June 30, 2011.
Dr. Jacobs did not receive a raise as part of the contract extension, but if he stays through 2013, Dr. Jacobs will be entitled to a $150,000 longevity bonus.
Dr. Jacob s salary remains $392,700 a year.
The UT Board of Trustees approved the contract extension Thursday.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.