Texas A&M University's outgoing President R. Bowen Loftin is going to walk away from Aggieland with $850,000 that the A&M System agreed to pay in August when Loftin announced his resignation.

"He is legally entitled to those funds," university spokesman Shane Hinckley said Friday, a day after the University of Missouri named Loftin as its new chancellor.

Hinckley said he was unable to provide more information on the transition agreement because it was made "between the university system and Dr. Loftin."

The agreement was a two-fold contract that, first, resolved compensation for stepping down as A&M's president on good terms and, secondly, set up Loftin's position as a faculty member after his resignation.

With regard to the first issue, Hinckley confirmed that "the terms are unaffected," allowing Loftin to keep two year's worth of his current salary. That sum was to be paid on or before Aug. 30, which was 10 days after the agreement was signed by Loftin and System Chancellor John Sharp.

Hinckley said the university hasn't had to time to address the second section of Loftin's contract, part of which allowed Loftin to help in the creation of an Institute for Advanced Modeling and Simulation.

Other portions of Loftin's faculty transition included a position as special adviser to the provost with a salary of more than $25,000 per month during the next two semesters. As a tenured professor in the Dwight Look College of Engineering, Loftin was to receive $215,000 annually. Other provisions included $50,000 for a departmental budget and up to $25,000 for legal fees and tax advice relating to the transition agreement.

Loftin is set to make considerably more as the chancellor at Missouri than he would as a tenured professor at A&M. He'll earn $450,000 annually, according to University of Missouri spokesman Christian Basi. That contract was negotiated between Loftin and the University of Missouri System.

The chancellor position at the University of Missouri is equivalent to the president position at Texas A&M.

Because the contract between Loftin and the Texas A&M System did not include a clause related to the president taking another job, it is unclear what will happen to some of the more trivial terms in the contract, such as Loftin being allowed to keep his laptop and iPad.

Hinckley did say that Loftin's move to Missouri -- his new job begins Feb. 1 -- shouldn't conflict with the university naming an interim or full-time president. Hinckley deferred questions about the search for a president to the system spokesman.

Loftin, who will deliver A&M's commencement convocation next week, was unavailable for comment Friday but he did draw a reaction from some Aggies on Twitter.

Friday night, Loftin used his @aggieprez account to congratulate the Missouri volleyball team on its win in the NCAA tournament.

Several Aggies noted how odd it was seeing Loftin rooting for another team, with one Aggie even prompting a reply from Loftin after saying it left her feeling like a jealous girlfriend.

Kyle Shepherd (@kyleshepherd_) responded with "I don't like seeing @aggieprez tweeting about Missouri... #notright."

Hannah Harmon (@MrsHarmon) wrote: "Every time @aggieprez tweets about Missouri, I die a little inside. #dontleaveus #weloveyou #tamu."

And from Samantha Vickory (@SouthernSass125): "@aggieprez, isn't it a little early?"

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(22) comments

John Ratzenburger

There's talk of our indirect return going away to supply cash for the university, and our indirect rate is probably going to go up as well. The indirect return is an incentive return - it is a way of incentivizing us to write and win more grants. It is the ultimate fiscal conservative move - it rewards us for our work and our success. Yet, they want to take this away. I never thought that our management would go Commie on us.

Odd timing too, relative to this development...

William Johnson

When did Bowtie first have contact with U MO? I bet it was before he agreed to "resign" and made his buy out deal.

Aggieprof

I am not sure what you all are complaining about.

He was fired by the BoR and the Chancellor, but he agreed to resign "voluntarily" and to keep silent about what was really going on for the exchange of $850,000. That was the deal. He kept his end of the deal, now the University has to keep its promise. The fact that he got right away a new job does not have anything to do with that deal, it only shows that he is the perfect Yesman who does whatever he is told to do. I guess the BoR in Missouri needed such a man.

slowpoke

what a sorry man, please leave as soon as possible......

Peter Witt

Loftin's 2X salary buyout is no different than some science/engineering faculty got a couple of years ago to retire...some came back to teach/research and continued to get paid. (Note most TAMU profs, over 100) got 1X salary). Loftin's money probably also comes with a "say no evil" clause, which is priceless to Sharp and the Regents.

What is shameful is that Loftin didn't wait until he got out of town to switch his loyalties to Missouri and congratulate them on his twitter account. Did he post congrats to TAMU women's volleyball team when they won Th night?

Anyway, the Loftin era has ended...look Sharp, a new presidential era has begun.

William Johnson

No different? The faculty retired and got nine months or eighteen months regular professor's salary (no fringe). Those who came back did not return as tenured faculty, and typically the salaries they received were much lower than their salaries as professors. Loftin got his huge upfront pay out plus a high salary for doing basically nothing as a TENURED faculty member after leaving the presidency.

Peter Witt

Loftin's new salary would have been $225K/year, not his same Presidential salary. Some profs, without tenure came back at near their original salary...Yes, you are right, Loftin would have still have had tenure. The payout seemed to be partially hush money, partially "if you leave now, we will pay you X" money, and partially guilt. In any case, he is gone for another job....at another SEC school where he can take pic with students, twitter about athletic victories and not have to worry about the Perry/Sharp/BOR crew....or maybe Missouri's President was just looking for a puppet to manage....and Loftin was his guy.

elf

This was clearly "Hush" money. This is the way Perry cronies work. Dr. Loftin knows more than Sharp can afford to go public.

JMO

There's an odor of hypocrisy on this thread. There's not one of you here who would bypass $850k to which you were legally entitled. But, then, people with nothing meaningful to say do tend to run on and on meaninglessly.
I'm no lawyer, and I don't know the details, but it seems to me that Lofton got honey of a deal with this contract. Perhaps someone more capable should negotiate with and write the contract for Lofton's successor.

ftw

You are correct, there is an odor.

The administration wants to run the university like it is a business. Yet in any significant business, CEO's and others at that level of administration are required to sign a non competing clause to receive these perks when leaving. That means they won't take their knowledge of the company and then go to work for the competition. They are barred barred by contract from working in the same industry for a period of time.

It would appear this type of agreement or contract was not executed in this case. Was it an oversight? Or was the agreement not negotiated in good faith?

William Johnson

I agree with you, JMO, that we have incompetency at the highest level of TAMUS. I say this because of the "Carroll caveat": "Never attribute to malevolency that which can be attributed to incompetency".

BarbieD

Loftin and especially Sharp should be embarrassed to show their faces. I think faculty and staff should be allowed to audit upper administration and the Chancellors!

the real slim shady

Loftin is always declaring his love of this school. If he truly loved it, he would leave without the money. That could be a fund for a seed grant program that would produce preliminary data to be leveraged when faculty are applying for grants--which they desperately need and need to do more often (rather than give up and pout).

ftw

Research funding, yes that would be good and possibly be a generator for more funding received.

But what about all the students Loftin professed to love so much? How much could that help students in terms of scholarships? Or toward funding a program to better the university with an emphasis on undergraduates?

Where is the love now? In his bank account?

William Johnson

I love your sense of humor, slim. The sight of Bowtie giving away his hush money makes me laugh.

ftw

Oh what a surprise. Loftin receives $850,000 for leaving, while the staff are losing their jobs or being outsourced. And it appears their next bog concern is working out the details of whether or not he will keep a computer and iPad. It's obvious they have their priorities firmly in place.

Andrew Pate

Why did Sharp oust Loftin? To prepare the way for Perry to become president of A&M? To make way for entirely new blood? I am a graduate of another university, actually that should be plural, but i live in College Station. I deplore the political implications of Loftin's being forced out. He had the credentials and the expertise in addition to possessing a remarkably appealing personality. Maybe Sharp simply did not want to compete with all that? Personally, I would think that the faculty will address these questions strongly in the weeks to come. I hope this happens. The long-range negative implications of Sharp's moves need to be brought out into the open, in my judgment.

Nunya Bidness

Perry will not be the next President of Texas A&M. Goodness, where do you people get this stuff?!?

ftw

I hope you are right, for a change.

the real slim shady

From Uranus.

because

No Perry will not become President of the University. But the following is my
horror, but unfortunately quite realistic, scenario:

1) Sharp will take over as interim president at the same time staying chancellor.

2) Perry will lose or give up his bid to become republican candidate for the US presidency.

3) Perry becomes chancellor, Sharp stays president.

elf

The ONLY way to prevent that from happening is to elect Wendy Davis as Governor.

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