Expectations of Endowed/Named Chair Holders. Endowed/named chair holders are responsible for Faculty duties in the academic department to which they are assigned. Endowed/named chair holders are assigned a six (6) credit hour teaching load (or an equivalent amount of research, scholarly or service work) for each fall and spring semester. The endowed/named chair holder is responsible for developing and documenting progress toward achieving objectives for the endowment mission. At a minimum, endowed/named chair holder productivity shall include an annual seminar/lecture and a written (publishable) paper. The operating budget for the endowed/named chair holder must be approved by the Xxxxxxx/Vice President of Academic Affairs and is administered by the department chairperson to whom the endowed/named chair holder reports. The annual salary for endowed/named chair holders shall not exceed one hundred and forty thousand dollars ($140,000). Additionally, each endowed/named chair holder shall have an operating budget not to exceed twenty-five thousand dollars ($25,000) annually.