The UT System Board of Regents passed a motion allowing President William Powers Jr. to negotiate and execute an employment agreement for Steve Patterson, UT’s newly appointed men’s head athletic director, at a special called meeting Monday. 

Because Patterson’s salary as athletic director will exceed $250,000, the appointment was subject to approval by the board.

Under his new five-year contract at UT, Patterson will receive an annual salary of $1.4 million as well as performance bonuses of up to $200,000 per year. The performance bonuses are based on whether the athletics department is financially solvent and whether it can avoid any NCAA violations, University spokesman Gary Susswein said. The University confirmed it hired Patterson last Tuesday. Patterson, a UT business and law alumnus, served most recently as the head athletic director at Arizona State.

“Steve Patterson is the perfect candidate to build upon UT’s successes,” said Regent Steve Hicks, who was on the athletic director advisory committee, on Tuesday. “His track record of achievements with finances, facilities, personnel and business operations in high achieving athletics programs makes him a perfect fit for UT, and I’m especially proud that he has UT and Texas roots.”

The employment agreements negotiated by Powers are subject to review and approval by the board.