Former Congressman Martin Meehan has agreed to a five-year contract to lead the University of Massachusetts as its next president.
Meehan, who is currently the chancellor of UMass Lowell, will start with a base salary of $525,000 that will increase to $602,500 in the final year. There are also performance bonuses and other perks.
The contract includes a requirement that Meehan pay a penalty if he leaves the job before the end of the five years. Meehan has said in the past he does not intend to leave early.
" It is my dream job. It is a big job, a challenge, but I am excited about it," he said.
Meehan, on July 1st, will succeed Robert Caret who is leaving UMass before his contract expired to head up the University of Maryland
