E. Gordon Gee, who stepped down as president of Ohio State University on July 1, will make $5.8 million over the next five years as part of a new contract  with the university. According to the contract, Gee will serve as a tenured professor in Ohio State's law school and his responsibilities will include "completion of his research on 21st Century Education Policy and will include research, writing and national speaking as well as teaching or lecturing" in the law school, the school of public affairs and the college of education. Gee's annual base salary will be $410,000, and he will receive retirement contributions and a grant of $300,000 to fund his research. After the five years are up, Gee's salary will be equivalent to the highest-paid non-administrative faculty member in the law school.
The new contract waives any compensation Gee would have been entitled to under his previous contract  with the university, which would have paid out approximately $6 million in supplemental and deferred compensation over the next four years.