Morgan State University’s (MSU) Board of Regents offered a new five-year contract to university president David Wilson, extending his term until 2023.

The Board offered a unanimous decision and gave an official announcement on Tuesday. The Board’s new agreement allows Wilson to receive a three percent raise, upping his annual salary to $445,737. But Wilson will not receive a 457 (f) nonqualified deferred compensation retirement plan and relinquish his right to professional tenure at Morgan at the conclusion of his time as president.

“If something should happen and he were no longer president, he would remain an employee. Dr. Wilson said to us in these negotiations that he in no way wanted to bleed any money out of Morgan State University,” said alumni Kweisi Mfume, chairman of the Board. “If the university decides to go in other direction with another president, he wanted to relinquish that tenure so that it would not be a financial burden.”

In July 2010, Wilson began serving as the university’s president under an at will appointment.

“When you come into that position, you come in at the pleasure of the Board. The Board at any particular time can decide to let you go, with or without cause,” said Mfume.

 “In December 2012, the Morgan board voted 8-7 to oust Wilson from his job before changing course amid an outcry from faculty members, students and other campus stakeholders,” according to the Baltimore Sun.

After the Board secured leadership during the February meeting, they shared their confidence with the rest of the Morgan community, through a press release, on Wednesday afternoon.

“What we wanted to make sure was that the president and secondarily the university, was not in the eyes of some potential donors, looking like there was not stability. If anyone is working year-to-year, you have to ask yourself if they are that good, why are they on a year-to-year contract and if they are on year-to-year, do I really want to invest money?” said Mfume. “That was working against us.”

“We wanted to send a strong message that we believe in this president, we are generally very pleased with his administration, his leadership, his vision, his direction, we appreciate the way the way he interacts with students and we appreciate the fact that since he got to Morgan he has fallen in love with Morgan,” said Mfume. “So, it’s been reflected in his work and we wanted to reflect it in his employment agreement with the university.”