Prodigal chancellor

Vanderbilt’s soon to be former chancellor Gordon Gee says that Ohio State is his real home. But in hiring the guy who’s held more university presidencies than any other American — this will be his sixth since 1981 — Ohio State has figured out that long-term incentives are a good idea:

Board Chairman G. Gilbert Cloyd said Mr. Gee’s contract is still evolving. But a draft of that contract calls for a base annual salary of $775,000. He would receive an additional $225,000 a year if he stays beyond five years.

Smart move.