The incoming president of the University of Virginia will earn an annual base salary of $750,000, according to his contract.

Additionally, James E. Ryan will earn $150,000 annually in deferred compensation, the contract documents state.

The agreement was released to The Washington Post on Wednesday.

U-Va. 's outgoing president, Teresa A. Sullivan, has a base salary of about $560,000 and receives $180,000 in deferred compensation, according to the university.

Among other details of Ryan's contract:

Ryan will receive a $20,000 annual car allowance. Sullivan has an automobile allowance of $15,000.

●U-Va. will cover initiation fees and annual membership dues for two clubs of Ryan's choice.

●The university can award Ryan an annual performance bonus of up to $100,000.

"President-elect Ryan's compensation package reflects the university's careful consideration of an incredibly competitive market for the best higher education leadership, and the university is confident that he is the right person to lead U-Va. into its third century," a university spokesman said in an email.

Ryan was hired to serve as U-Va.'s president from Oct. 1, 2018, through July 31, 2025, according to the documents.

Earlier this month, U-Va. officials announced that Ryan would be the ninth president of the institution, founded by Thomas Jefferson. The announcement came about a month after white supremacists marched on the school's campus during a weekend of violent clashes in Charlottesville.

Ryan is dean of the Harvard Graduate School of Education. A scholar of law and education, he previously attended law school at U-Va. and was a member of its faculty.

Sullivan, a sociologist, announced in January that she would step down as the school's president in 2018. She has been U-Va.' s president since 2010.