University of Central Arkansas President Lu Hardin says he'll reimburse the school for a $300,000 bonus he received after questions were raised about its legality.

"I already have acknowledged that this matter was not handled well, and I deeply regret the mistakes we made," Hardin said Wednesday. "The UCA Board of Trustees and I are taking corrective measures to ensure this error never happens again."

Trustees approved a bonus package two months ago, giving Hardin an additional $60,000 a year for five years on top of his $253,000 annual salary. However, meeting minutes and notes did not reflect the package, only that the board voted on a series of personnel decisions in a single block.

The university said in a news release that Hardin will receive his deferred compensation only if private funds are used to cover the full amount and if the UCA faculty receives salary increases.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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