Keenum, Boyce receive contract extensions, pay increases

• The leaders of Miss. State and Ole Miss are now contracted until September of 2030.

Leaders at Mississippi’s two largest universities have received a contract extension and pay increase. 

Approval of those employment changes occurred during the September 17 meeting of the Board of Trustees for the Institutions of Higher Learning.

Dr. Glenn Boyce, Chancellor of the University of Mississippi, and Dr. Mark Keenum, president of Mississippi State University, both received four year extensions to their contracts that started on October 1. The contracts now run until September 30 of 2030.

“Chancellor Boyce and President Keenum are providing strong leadership at their respective universities, and the renewal of their contracts is evidence of the Board of Trustees’ confidence in the work they have done and will do in the years to come,” IHL Director of Communications John Sewell said. 

Boyce became chancellor of Ole Miss back in 2019, while Keenum took over the leadership role at MSU in 2009.

As of this month, both of their state salaries have been set at $562,500 for the first contract year, with $550,000 in state salary for the remaining three years.  

In addition to their state salary, Keenum and Boyce will receive salary supplements from their respective university’s foundation of $450,000 annually.

Retention payments, intended to ensure the continued employment of those leaders, are included in their compensation plans. Those payments will be made on June 30 of each year of the contract.

Boyce’s retention payments start at “up to” $275,00 for each of the first two years, and then “up to” $300,000 for each of the last two years. 

Kennum’s retention payments start at “up to” $475,000 for the first year, then transition to “up to” $275,000 the second year and “up to” $300,000 for each of the last two years. 

Both contracts included amended versions of the National Collegiate Athletic Association Clause, which states all applicable employees will cooperate with the NCAA’s infraction process and any related investigations. Disciplinary action listed in the new clause lists suspension without pay or termination.

The two university heads received contract extensions from the IHL Board in 2024. Under those previous contracts, Keenum and Boyce were paid annual state salaries of $500,000, in addition to annual $450,000 supplements. 

Retention payments under those previous contracts obligated a payment of “up to” $400,000 on June 30 of this year to Boyce, with another $400,000 set to be paid if he completed his contract, prior coverage states.

Keenum’s previous contract stated he would receive a retention payment of “up to” $600,000 if he maintained employment until June 30, 2028, according to previous coverage.