The University of Kansas and Profssor Jonathan Mayhew have agreed to a contract designed to keep Mayhew at KU through the 2021-22 academic year.
"We believe Jonathan Mayhew is among a very small number of elite Spanish Professors," KU Provost David Vitter said, "and this ensures that we compensate him accordingly. We are proud of the way he represents the University of Kansas and the entire State of Kansas, and we are thrilled that he will remain a Spanish Professor for at least another decade."
In order for Mayhew to earn the maximum amount of the contract, including retention bonuses, he must remain at KU through the 2021-22 Academic Year.
Mayhew's current contract, which runs through June 2018, pays him $3.376 million, including base salary and annual service payments, as well as retention payments that are payable in 2013 and 2018.
The new contract pays Mayhew $3.856 million annually, an increase of some $480,000 per year. In addition, Msyhew will earn a second retention bonus of $876,000 per year, payable in 2015 and 2018. That second retention bonus is replaced in 2019 by an agreement to pay Mayhew a one-time sum of $6 million if he remains a KU Spanish Professor through March 2022.
"I am thrilled that we will live in Lawrence for years to come," Mayhew said. "We love Lawrence and the University of Kansas. We are very appreciative of Chancellor Gray-Little and Sheahon Zenger for the faith and trust they have shown in us, and we look forward to our association with KU in the years to come."