Outgoing president becomes professor — but at presidential salary; receives same supplementary pension plan as vice-presidents
NOTE: This article updates an earlier version.
University of Ottawa President Gilles Patry leaves office today to assume his duties as a regular professor—but one earning a presidential salary. According to the terms of Patry’s contract, signed in 2002, on stepping down he will have the right to up to two years of paid leave, paid at the same level as his last base salary as president. Patry, 58, will also continue to be employed by the university as a professor, paid at the same salary level. In 2007, Patry was paid $327,508. It is not clear how much of that is base salary, and how much is bonus. His 2002 contract stipulated that his base salary was to begin at $250,000, and be reviewed annually.
Upon retirement, Patry also become eligible to receive the university’s regular pension, a regular supplementary pension and a special executive pension. Patry’s 2002 contract was released last week, but Maclean’s today received a contract addendum from the U of O that amends the pension plan contained in the original document.
The original contract, dated Dec. 6, 2002, gave Patry an additional supplementary pension, and credited him for two years of work for each year he served as president, beginning when he took first took the job in 2001. That supplementary pension covered an unspecified percentage of his current annual income, but only up to maximum of $250,000 per year. On Nov. 29, 2007, Patry signed an addendum that replaced the original supplementary pension arrangement with the same top-up pension structure that applies to the vice-presidents and secretary of the university.