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COLLEGE STATION, Texas (AP) — Michael Young will earn more than twice as much as his predecessor when he takes over as the new president of Texas A&M University in College Station.

The Bryan-College Station Eagle reports that the System Board of Regents voted Monday to hire Young, and pay him $1 million annually as part of his five-year contract. The new president will receive a yearly $200,000 housing allowance and an $800,000 signing bonus.

Young will also be eligible to receive up to four $100,000 performance bonuses at the discretion of the school’s chancellor John Sharp.

Young completed his three-year tenure as president of the University of Washington last week, where he was paid $853,000 annually.

Sharp said at a Feb. 3 regents meeting that Young’s salary would not compare to that of his predecessor because this president and the previous one are incomparable.

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