New Va. Tech president to earn $500,000 annually - WVVA TV Bluefield Beckley WV News, Weather and Sports

New Va. Tech president to earn $500,000 annually

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   ROANOKE, Va. (AP) -- The compensation package for Virginia Tech's new president includes a $500,000 base salary and $180,000 in deferred compensation annually.
   Timothy Sands' contract also includes a $20,000 vehicle allowance and standard university benefits such as health coverage, leave and vacation. Sands also will be eligible for an annual bonus.
   The Roanoke Times reports that Virginia Tech spokesman Larry Hincker released the contract on Monday.
   The 55-year-old Sands was named the university's 16th president last Friday. He takes over June 1, 2014, for Charles Steger, who is retiring.
   Hincker tells the newspaper that Steger didn't have a written contract.

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