The former Joint Chiefs of Staff chairman hired as Kansas State University’s president will receive a $500,000 annual salary.

The  Kansas Board of Regents released the letter of appointment Thursday for Gen. Richard Myers. He was promoted last month from interim president, a job he’s held since April.

The Kansas State University Foundation will finance $156,250 of Myers’ yearly salary, a common practice for paying university presidents.

As part of his annual compensation package, the foundation will provide Myers with two university vehicles and a membership to the Manhattan Country Club.

The foundation also will finance Myers’ deferred compensation package. That includes getting $31,250 after his first year of service, progressing to $187,500 if he remains as president for eight years or more.
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Associated Press information from: The Topeka Capital Journal