The CNM governing board unanimously approved a renewed contract for Winograd that increases her benefits, including a retention incentive that pays her 10 percent of her salary each year.
The quick approval of Winograd’s contract, at a meeting in the Workforce Training Center on Tuesday, was met with applause.
“I just want to say that everything I value in the world comes together at CNM and I can’t believe I get to do this job,” Winograd said.
Winograd, who became president in 2007, has a base salary of $212,180 annually, although that number bumps up to more than $266,600 with deferred compensation.
Among the changes in Winograd’s contract are an increase in her retention bonus, from 5 percent to 10 percent each year. Also included are a two-month paid sabbatical, which Winograd cannot take until 2014, and a retirement contribution of 10 percent of her salary each year. In addition, the contract calls for a year’s salary if Winograd is fired without cause, and for a “pay for performance plan” through which the governing board sets goals Winograd has to meet, and is then paid for.
Governing board members have been highly supportive of Winograd and last year said they hope she continues her presidency until at least 2017.
Winograd, like most CNM employees, will also get a one-time 2 percent raise. The raise could become permanent if CNM does not receive cuts in funding from the state.