A meeting of the Compensation Committee of the Board of Trustees convened at 9:47 a.m. on Friday, August 6, 2021, on the Hammond, Indiana, campus of Purdue University Northwest. The meeting was held in Alumni Hall located within the Student Union and Library Building. Everyone in the room was wearing a mask amid the ongoing COVID-19 pandemic.

Committee members present were: Malcolm DeKryger, chair; Michael Klipsch; and Gary Lehman. Don Thompson’s absence was excused. All other trustees were present: Sonny Beck; Michael Berghoff; JoAnn Brouillette; Theresa Carter; Vanessa Castagna; and Mark Gee.

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Chris Ruhl, chief financial officer and treasurer; Jim Almond, senior vice president, assistant treasurer, and assistant secretary; Steve Schultz, general counsel; Janice Indrutz, corporate secretary and senior executive assistant to the Board; Ron Elsenbaumer, chancellor of Purdue University Fort Wayne; and Tom Keon, chancellor, Purdue University Northwest.

I. APPROVAL OF MINUTES

Upon proper motion made and duly seconded, the Compensation Committee voted unanimously to approve the minutes of its last meeting convened on December 4, 2020, and an executive session convened on August 3, 2021.

II. APPROVAL OF CONTRACT TERMS FOR HEAD WOMEN’S BASKETBALL COACH

Trustee DeKryger stated that Mr. Mike Bobinski, vice president and director of Intercollegiate Athletics, had presented the Committee with the contract terms for Ms. Katie Gearlds, who had been selected to succeed Ms. Sharon Versyp as head women’s basketball coach. He outlined that Ms. Gearlds’ base salary would be $535,000 per year for the next five years and include incentive opportunities and other customary prerequisites. Consistent with past practices, he said, the term sheet would then be put into definitive agreement format. Trustee DeKryger added that approval of the term sheet would include delegation of authority to Vice President Bobinski to develop the contractual agreement with Ms. Gearlds, with President Daniels and Trustee DeKryger to approve final form of the agreement.

Trustee Klipsch remarked that the terms were straightforward, and he expressed his excitement for Ms. Gearlds, who, he observed, was currently associate head coach. Chairman Berghoff commented that the women’s basketball program was great, and he expressed his hope that it would return to the success it saw in the 1990s. Noting Ms. Gearlds’ professional success, Chairman Berghoff underscored that she knew the state, she knew recruiting, and she was highly regarded.

Upon proper motion duly made and seconded, the Compensation Committee voted unanimously to request full Board approval of the contract terms. Supporting materials were filed with the minutes.

III. ADJOURNMENT

By consent, the meeting adjourned at 9:51 a.m.