Purdue University announced  Saturday that the compensation for its incoming president -- Mitchell E. Daniels, who is wrapping up his tenure as Indiana's governor -- will represent a reduction in spending. The previous president's total compensation was $555,000, including deferred compensation. Daniels is eligible to earn up to $546,000, but only with achievement of specific goals and without deferred compensation. His base pay will be $420,000 -- and he will be eligible to earn the rest by meeting specific goals related to student affordability, graduation and student achievement, strategic program development with demonstrated student outcomes in knowledge and understanding, philanthropic support, and faculty excellence and recognition. Keith Krach, board chair at Purdue, said it would be difficult for Daniels to meet the goals in all areas.