UK president gets raise and new contract

University of Kentucky's board of trustees has voted to give President Eli Capilouto a two-year contract extension, a 5 percent raise and a $50,000 performance bonus.

Capilouto said he wanted to talk to his family about a potential contract extension. The Lexington Herald-Leader also reported Capilouto said he would return the bonus to the university.

Capilouto received a largely positive evaluation last month. Board Chairman Britt Brockman said Tuesday the board believes Capilouto is the right person leading UK and should receive more incentive if economic circumstances were different.

Capilouto's previous base salary was $500,000, and it increases to $525,000 for the current fiscal year. He didn't receive a raise or bonus last year because of the uncertain fiscal climate.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)