The University of Alaska is not paying President Mark Hamilton about $19,500 owed under his current contract as the Board of Regents reconsiders his compensation package, according to a spokeswoman.

Hamilton's current one-year contract, effective in June, sets his pay at 90 percent of the median salary for university presidents at similar institutions, or about $276,000, said UA spokeswoman Kate Ripley. But because the board wanted to reconsider how it paid him, Hamilton is only earning $256,500, she said. The rate won't change until after the regents meet Wednesday through Friday.

"President Hamilton is aware of the situation and is OK with it," Ripley said.

Regents have scheduled a closed-door discussion in executive session on the president's contract during their meetings held in the Butrovich Building. Hamilton will not be present during that part of the meeting, Ripley said.

"Exactly what they're going to do I don't know," Ripley said. "I mean, I imagine they'll discuss it in executive session and then they'll come out and the do some public vote on it and then it'll be known at that time."

Calls to several regents Thursday went unreturned, and Hamilton was out of town and unavailable for comment. Ripley said the president is not bothered by the situation.

"He's not upset about it or anything like that," she said.

Under his current contract, Hamilton's pay is calculated as 90 percent of the median salary of university presidents, as measured by the College & University Professional Association for Human Resources. He also receives benefits, which are about 35 percent of his current salary, Ripley said.

At the time of his contract renewal in December 2004, the median president salary at peer institutions was $331,000. At that rate, his pay was expected to climb to at least $297,900. Instead, it has remained nearly unchanged.

"My sense is that members of the board are pleased with him and want him to stay on for as long as possible," Ripley said. "The issue of his contract has been announced as executive session subjects a couple times this past year. It's on the agenda next week for action, so we'll see what happens."

Hamilton earns 31.5 percent less than other university presidents, according to a survey by the Chronicle for Higher Education. The median public university president's compensation package is $374,846 this year, up 4.1 percent from 2005.

The highest paid public university president is David Roselle at the University of Delaware, the Chronicle reports. In 2004-05, the most recent year that numbers were available, Roselle earned $979,571.

Hamilton, who earned about $180,000 when he was hired in 1998, is the second highest paid state executive in Alaska, according to the state Division of Finance. Patrick Gamble, president of the Alaska Railroad Corporation, ranks first with $274,865 in the 2005 calendar year.

On top of his pay, Hamilton gets several perks, including a $9,250 vehicle allowance. He also gets free use of house on Yankovich Road, valued at more than $1.8 million.

Hamilton also receives annual compensation from Alaska Air Group for sitting on its board of directors. In May, he received about $15,000 in common shares from the company, according to Securities and Exchange Commission filings.

In 2006, he earned more than $5,000 from renting out a house in North Pole, according to reports filed with the Alaska Public Offices Commission. He also receives retirement benefits from the U.S. Army.