The Penn State Board of Trustees on Friday approved a 47% annual salary compensation increase for its university president, which amounts to a $450,000 pay bump.

In a 34-1 vote, the board increased Neeli Bendapudi’s base salary from $950,000 to $1.4 million. The agreement increases her pension from $250,000 to $525,000; and increases deferred compensation from $550,000 to $650,000.

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