The boards at some of the highest-paying universities took pains to point out that such awards are an incentive to retain a successful president, and that the money is meant to recognize the achievements of the president’s total tenure.

Henry J. Nasella, the chairman of Northeastern’s board, released a statement explaining that the $2 million retirement benefit to Dr. Aoun was intended to ensure his continued service, and that since many of his major initiatives were still underway, “members of the board agree unanimously that continuing President Aoun’s leadership was among our higher priorities as trustees.”

Image Joseph E. Aoun, president of Northeastern University saw his compensation rise in recent years. Credit... Jemal Countess/Getty Images for Time

Over all, compensation packages more than doubled in 2011 for 11 of the 42 presidents earning more than a million dollars.

In the recent report, which included 550 presidents at the 500 private United States colleges with the largest endowments, the median total compensation was $410,523, up 3.2 percent over the previous year. The median base salary was $301,299, a 0.4 percent increase.