Late Monday afternoon, the University of West Florida Board of Trustees (BOT) Chair Rachel Matthews had staff post the supporting documents on the board’s website for the board’s meeting on Thursday, Jan. 8, including the proposed contract and compensation package for Interim President Manny Diaz.
- If approved by the BOT and the Board of Governors, his maximum 2026 compensation will $946,040—$162,040 more than his predecessor, Dr. Martha Saunders.
Most of the difference is in Diaz’s base salary, $674,000, which is $137,727 more than Saunders’ most recent base, $536,273, which was increased to that level after holding the position for nine years. Read Diaz Compensation
| Diaz | |
| Base | $674,000 |
| Max. Bonus | $107,840 |
| Retirement | $89,000 |
| Housing Allowance | $60,000 |
| Car Allowance | $14,000 |
| Phone Stipend | $1,200 |
| $946,040 |
Other points:
Diaz is guaranteed a 3% annual raise regardless of performance. The performance bonus has vague criteria—”The award of performance compensation shall be based on the Board’s assessment, in its sole and absolute discretion, of the President’s performance as President during the fiscal year under review.” It is not tied to how UWF does under the state’s performance metrics system.
Retention and Deferred Compensation
The Contract provides for 5 years of retention bonuses with the initial retention bonus totaling $375,000 for years 1-3 ($125,000 per year) to vest and be paid on or after July 14, 2028. Years 4 and 5 secondary retention bonus totaling $150,000 ($75,000 per year) would vest and be paid on or after July 14, 2030. These retention bonuses will be booked quarterly years 1-3 and years 4-5 by the Foundation as contingent liabilities.
- Initial Retention (457(f)): $125,000 annually for three years and contingent until vesting in 2028.
- Secondary Retention (457(f)): A second plan, which pays $75,000 annually during the fourth and fifth years of the term contingent until vesting in 2030.
Removal or Resignation of the President
The Contract also provides that this contract may be terminated at any time by a 2/3rds vote of the Board of Trustees for cause (30 days) and without cause (30 days with 20 weeks severance). This Contract will also terminate upon resignation, death or disability of the President and shall be deemed to be with just cause.
Note: The 2/3rds vote requirement makes it very difficult to fire Diaz.
Read Diaz Proposed Contract.