The Missouri State University Board of Governors has renewed the contract of President Clif Smart, adding an incentive clause that will pay him $50,000 annually as deferred compensation through the remaining seven years of his contract.
Smart presented his self-assessment to the board in an executive session at its June meeting. The board then completed an electronic survey that evaluated Smart in nine major categories.
In a statement issued Friday, Board Chair Stephen Hoven said, “The Board is thrilled with the leadership President Smart has provided Missouri State University. I know he is not driven by money alone, but we hope the incentive clause will keep him here for the duration of his contract in 2022.”
Smart’s contract, which was extended last year, runs through June 30, 2022.
He’ll receive a 1.8 percent salary increase, the same percent increase provided to faculty and staff.
“I am proud to be the president of Missouri State and truly appreciate the Board’s confidence in me,” Smart said. “I love my job and plan to remain as president through the duration of my contract and hopefully beyond. The generous incentive clause expands my opportunity to create another substantial endowment at the end of my tenure.”
Smart joined Missouri State as General Counsel on Dec. 1, 2007, after a successful 20-year legal career. He was named interim president June 27, 2011, and became the 11th president of Missouri State on Oct. 16, 2012.
The university also announced Friday that long-time MSU administrator Dr. Frank Einhellig was selected by the board to hold the University Leadership Chair. Einhellig, provost, is the third administrator to hold the endowed chair since it was established.
The designation is for two years and comes with $2,500 per year in supplemental pay.
“Frank loves this university and its students,” said Smart. “While we have many great members on the administrative team, no one deserves this recognition more than Frank.”
The University Leadership Chair was established in 2008 by the Board of Governors under the leadership of Mary Sheid. The Board is able to award the endowed chair to a member of the university’s central administration who has demonstrated superb leadership. Prior recipients were Dr. Jim Baker and former President Michael T. Nietzel.