UPDATED 10:50 a.m. Friday
CHICAGO — Michael Hogan will get a one-year sabbatical as soon as he resigns from the University of Illinois in July at a salary of $285,100, the average of the top 10 faculty members, as his original contract stated. (An earlier version of this story erred in the salary figure.)
He gets to pick which campus he wants to work on when he returns from sabbatical in 2013, and the UI will pay his moving expenses.
The resignation "in no way constitutes an admission that any basis exists for the Board of Trustees to terminate Hogan as president for any reason or without cause," the agreement says.
Hogan submitted his resignation on Thursday. The UI has posted a revised contract with Hogan to be considered today (Friday, March 23, 2012) by the executive committee of the University of Illinois Board of Trustees.
The committee also will name Robert Easter the president-designate. Until Hogan leaves, Easter's salary will be based on a $250,000 annual salary. When he becomes president, his salary will be $450,000 — about $200,000 less than Hogan was earning.