AZ SB1453

Annual salary for university presidents is capped at $500,000.

Presidents may receive annual bonuses, incentives, and other compensation (including nonmonetary) totaling no more than 15 percent of their annual salary.

Presidents can only receive bonuses or additional compensation for performance that exceeds assigned duties and directly benefits the institution's students, staff, or faculty.

The compensation limitations apply to all employment contracts entered into or renewed after the effective date of this act.