The UVI Board of Trustees during executive session on Saturday unanimously approved a five-year agreement to employ Dr. David Hall as president of the University for the period of Aug. 1, 2019 through July 31, 2024, UVI made known late Saturday. The current employment agreement between the university and Dr. Hall expires on July 31, of this year. The agreement is expected to be executed between Mr. Hall and Henry Smock, UVI board chair, later this week, UVI said. The agreement was reached during the board’s quarterly meeting, held this time in the Administration and Conference Center Building on the St. Thomas campus.
During regular session, the board re-elected Mr. Smock to serve as chairman and elected Oran Roebuck to serve as vice chair.
“I am very pleased that we have been able to renegotiate a new contract for a great president,” said Mr. Smock. “His leadership of the university during and after Hurricanes Irma and Maria was significant in UVI’s ability to reopen quickly, resume classes, support its employees and students, and serve as a resource to the territory during its recovery efforts.”
“The Board of Trustees is confident that he will continue to move the university forward under its new strategic plan, ‘Greatness Through Innovation’,” Mr. Smock added.
The terms of the 2019-2024 employment agreement are similar to those in the current agreement. There will be no change in the president’s salary, which is $350,000 annually, or his ability to be awarded a performance bonus at the end of each contract year as determined by the board, UVI said. In determining whether to award a performance bonus, the board shall take into consideration, among other things, exceptional job performance, the financial condition of the university, the economic condition of the Virgin Islands, and/or the level of faculty and staff compensation, UVI said.
Further, the board shall not issue a performance bonus where a state of emergency has been declared for the Virgin Islands, or other exigent circumstances affecting the university. The president shall also be eligible for salary increases at the same percentages and the same time as the salaries of the university faculty and staff generally are increased. UVI noted that Mr. Hall has not received a performance bonus in nine years, despite having consistent outstanding ratings from the Board of Trustees.
There are two substantive changes to this employment agreement, according to the university. As the president had been required to live on the St. Thomas campus previously, free of rent, or the cost of electricity, he will now be provided with a housing allowance of $5,000 per month to assist him with the cost of renting or securing a home of his own choice at whatever location on St. Thomas that he chooses.
Additionally, Mr. Hall shall be expected to raise not less than $20 million during the term of this contract. This minimum is $2.5 million less than required under the current contract, UVI said, pointing to “adverse economic conditions in the territory.”
“During President Hall’s existing five year contract, the University has achieved many important goals and milestones. There has been important growth in numerous areas under President Hall’s tenure,” said Mr. Smock.
Below are a few of the achievements, accomplishments and honors bestowed upon the university and its current president in the last five years.
New Academic Programs
Research and Technology Park companies contribution now approaches close to $1 million annually
According to UVI, Mr. Hall indicated his appreciation to the Board of Trustees for its continuing support and faith in his leadership. “The university has made great strides in the last five years due to the collective efforts, creativity, resilience and hard work of countless faculty, staff and students and Board members,” he said. “I am proud of UVI and the contributions it makes to the territory. I remain honored to serve as president of this special University.”