STATE COLLEGE, Pa. (WTAJ) — Penn State University Trustees approved new contract revisions for President Neeli Bendapudi, which include an $450,000 increase in base salary.

The board voted 34-1 on Sept. 12 in favor of adjusting President Bendapudi’s total compensation package in recognition of her leadership and transforming the school’s operations.

The package bumps the President’s base salary from $950,000 to $1.4 million annually, and Bendapudi will receive an automatic 3.5% increase each year until 2032. Her completion and retention payment will increase to $525,000 a year for fiscal year 25 through 2032. Also included is an annual performance bonus of up to 15% of the president’s base pay as long as she meets approved goals.

The board’s announcement of a new compensation package for the university’s President comes at a time of uncertainty.

It was just announced on Sept. 11 that WPSU would be winding down its operations as the Penn State Board of Trustees Finance and Investment Committee voted against a proposal to transfer the public radio station to WHYY in Philadelphia.

Back in May, the University released its official list of seven campuses that would be closed over two years, including Penn State Mont Alton and York.

During Friday’s meeting, the board praised Bendapudi’s progress since becoming President in May 2022.

“President Bendapudi has led the University to a balanced budget and more than $560 million through philanthropic commitments, while also continuing to strengthen the Penn State research enterprise and advance Penn State Health — all with a laser-sharp focus on the core academic mission of Penn State,” Board Chair David Kleppinger said. “Overseeing such a vast academic, research, health, and athletics enterprise through these changes has been no easy task — particularly with all of the challenges facing higher education as a whole — but her leadership is instrumental in positioning Penn State for future success and growth. With today’s vote, the board recognized her accomplishments and signaled its intent to work with and support her for years to come.”