The UCF Board of Trustees approved an extension to President John C. Hitt's contract at its meeting Thursday. Starting July 1, 2016, Hitt's contract will be annually extended each year on that date for one additional year.
"We're changing this agreement from a fixed-term contract to a rolling-term agreement," said Vice President and General Counsel Scott Cole.
The vote authorized Cole the ability to finalize the draft of the contracted — the fifth amended agreement with Hitt. His compensation was not amended as part of the extension.
Serving as university president since 1992 as the university's fourth president, Hitt was entering the final year of a five-year contract that began July 1, 2011. Although the contract is being extended, it can still be terminated without cause by the Board with 365 days written notice.
Hitt has led UCF through tremendous growth and development on campus as a part of his presidency, and is also leading the university in a push for a downtown campus. Throughout his tenure, UCF has seen the building of Bright House Networks Stadium, the CFE Arena and the Student Union.
Another key accomplishment for Hitt has been making UCF "America's Partnership University."
Ryan Gillespie is the Editor-in-Chief at the Central Florida Future. Follow him on Twitter at@rgillespiecff or email him at RyanG@CentralFloridaFuture.com