On June 12, Rebecca Matthews, chair of the University of West Florida Board of Trustees, is expected to present to the board a compensation agreement for Education Commissioner Manny Diaz to become the “interim” president.
If Matthews handles it like her other board agendas, the proposed contract will not be added to the agenda until the night before the meeting.
However, we know the deal being offered to Dr. Santo Uno, the president of the University of Florida. Read Ono-UF-Employment-Agreement. I’m interested in seeing if Matthews includes in Diaz’s contract the “Notable Contract Features.”
Key Terms & Compensation
Position & Term:
- President and Corporate Secretary of the University of Florida
- Term: June 4, 2025 – May 30, 2030 (5 years)
- Extensions are possible with mutual agreement and board approval
Total Compensation Package:
- University of Florida Role: $1.5M base salary + up to $500K in bonuses/retention
- UF Health Role: $500K base salary + up to $200K in bonuses/retention
- Combined potential: Up to $2.2M annually
Compensation Structure
University Compensation:
- Base salary: $1.5M annually (3% automatic increases if goals met)
- Performance bonus: 20% of base salary ($300K)
- Retention payment: 20% of base salary accrued annually, paid only if he completes full 5-year term
- Retirement contribution: 5% of base salary ($75K)
UF Health Compensation:
- Separate $500K base salary for serving as UF Health Board Chair and Principal Investigator
- Similar bonus and retention structure (20% each)
- Additional retirement contribution (5%)
Notable Contract Features
Performance Requirements: The contract includes specific political mandates in Exhibit 1, requiring Dr. Ono to:
- Eliminate DEI programs and “political or social activism.”
- Work with Florida DOGE to reduce administrative overhead
- Align dean and provost appointments with “Florida’s approach to higher education.”
- Conduct strategic reviews to eliminate low-ROI programs
Termination Provisions:
- For Cause: Immediate termination, forfeiture of most benefits
- Without Cause: 3 months notice, retention of most benefits, sabbatical eligibility
- Resignation: Generally forfeits retention payments unless completing full term
Financial Analysis
If Dr. Ono completes the full term successfully, his total compensation over 5 years could exceed $11 million, making this among the highest-paid public university president positions in the country.
- The contract reflects the current political climate in Florida higher education, with explicit requirements that align with Gov. Ron DeSantis’ priorities regarding university governance and operations.