The Washington State University board of regents has given President Elson Floyd a 21 percent pay raise, boosting his salary from $600,000 a year to $725,000.

Floyd took over in May of 2007 as WAZZU’s tenth president.

The contract also increases the incentive for Floyd to remain at the Pullman university.  The retention bonus is $500,000 if he stays through June 2012. (AP)