MINNEAPOLIS (WCCO) – The University of Minnesota announced Wednesday it has agreed on a contract extension for President Eric Kaler.

Kaler signed a five-year contract extension that will keep him as the U of M president through June 30, 2020. The terms of the contract give Kaler a salary increase for 2014-15 of 2.5 percent from $610,000 to $625,250, which is consistent with the school’s faculty and staff merit-based pay plan.

The University of Minnesota Board of Regents approved the contract extension with a unanimous vote Wednesday.

The University stated since he took the office in 2011, his performance evaluations every year have shown consistent progress towards the school’s goals.