COLUMBUS (WCMH) — The Ohio State University will pay incoming President Kristina Johnson PhD more than $1.4 million per year in base salary, bonuses and other benefits.

The university Wednesday released Dr. Johnson’s signed offer letter, dated May 19. Johnson was announced as the next OSU president on June 3.

According to that offer letter, Dr. Johnson will serve a five year term beginning September 1, 2020. The Board of Trustees has the option to extend that agreement for another five years.

Following her term as president, Dr. Johnson has the option to remain at Ohio State as a Distinguished University Professor.

Dr. Johnson will receive a base salary of $900,000. She is also eligible for up to 25% of her base salary in the form of an annual performance award. She will also receive an $85,000 fringe benefit allowance, a $200,000 yearly retirement plan contribution, $35,000 in moving expenses, and membership in two social clubs.

She will also be provided with $50,000 per year in research and education fund support.

Following her term as president, Dr. Johnson and her wife will be eligible for lifetime medical care under the Wexner Medical Center Executive Health Program. She will also have lifetime eligibility to purchase football and men’s basketball tickets for life.

For the last year of his contract, Dr. Michael Drake was paid a base salary of $870,000 with a similar package of benefits.

Tap here to read the entire offer letter.