Former Texas Tech Chancellor Kent Hance
The Texas Two Step…more than just a lottery game, or a dance step…it’s also how Texas Tech paid its outgoing Chancellor Kent Hance.
Hance worked out a deal with the University upon his retirement to become Chancellor Emeritus. His responsibilities included assisting the new Chancellor, fundraising, and teaching one class.
Those duties…and his $240,000 a year paycheck… were supposed to continue until the 3-year term expired on July 7, 2017.
Except Hance retired again.
In October of 2016, he sent a letter to his successor Chancellor Robert Duncan, stating he was retiring but wished to continue to teach his class.
The transition agreement signed by Hance and then Board Of Regents Chairman Mickey Long states in part:
“If Hance terminates this agreement prior to the end of the transitional term all obligations of the parties shall cease immediately.”
In other words…if Hance quits, he doesn’t get paid.
Documents obtained by Dolcefino Consulting will now expose the Texas Tech double dip.
One month after his second retirement Hance was rehired by the University to teach his class for a salary $44,000 a year.
But when we looked at the financial records, it simply didn’t add up.
In 2016, Texas Tech records show Hance had been paid $386,147.45, a lot more than Texas Tech was contracted to pay him.
Now you’ll know why.
Just two weeks after Hance retired the second time… Texas Tech paid him a lump sum of $153,603 that he hadn’t even earned yet under the old contract. The deal never was approved by the Board Of Regents… Just between the old Chancellor and the new one.
Hance was then re-hired to teach his class starting in November and began drawing his $44,000 a year salary.
Maybe the University figured that since it exceeded its goal of raising a billion dollars from alumni donations, that Hance deserved an extra $153,603.
But that makes you wonder why this school year, Texas Tech students are paying $110 more per semester in tuition… that’s 1391 kids, and their parents, who might have avoided paying that increase without a Kent Hance bonus.
“This is just the beginning,” says Wayne Dolcefino, President of Dolcefino Consulting, “I promised Texas Tech we were going to expose their secrets until they stop cheating Mike Leach. More are coming.”
Kent Hance documentsHance letter to Chancellor
Hance Memo Terms