A meeting of the Compensation Committee of the Board of Trustees convened at 8:56 a.m. on Friday, December 2, 2022, in Room 326 of Stewart Center on the campus of Purdue University in West Lafayette, Indiana.

All committee members were present: Malcolm DeKryger, chair; Michael Klipsch; and Gary Lehman. All other trustees were present: Sonny Beck; Michael Berghoff; JoAnn Brouillette; Theresa Carter; Vanessa Castagna; Mark Gee; and Shawn Taylor.

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Chris Ruhl, chief financial officer and treasurer; Eva Nodine, senior vice president, assistant treasurer, and assistant secretary; Steve Schultz, general counsel; Cindy Ream, corporate secretary and senior executive assistant to the Board; Ron Elsenbaumer, chancellor, Purdue University Fort Wayne; and Tom Keon, chancellor, Purdue University Northwest.

I. APPROVAL OF MINUTES

Upon proper motion made and duly seconded, the Compensation Committee voted unanimously to approve the minutes of an executive session convened on November 29, 2022.

II. APPROVAL OF EMERITUS PACKAGE

Trustee DeKryger shared the rare and unique opportunity that the Committee and subsequently the full Board would vote on, designation of President Emeritus for President Daniels who would step down December 31, 2022. He noted it is a lifelong designation and summarized the benefits package. Upon proper motion duly made and seconded, the Compensation Committee voted unanimously to request full Board approval to award the proposed President Emeritus Package to President Daniels. Supporting materials were filed with the minutes.

III. ADJOURNMENT

By consent, the meeting adjourned at 9:02 a.m.