The new president of the University of Alabama is receiving a salary and benefits package worth as much as $652,000 annually. Guy Bailey began work last week as president of the campus in Tuscaloosa. Responding to an open records request by The Associated Press, the university says Bailey's annual salary will be $535,000. Alabama native will be eligible to receive a performance incentive of $105,000 a year based on meeting certain goals. But those benchmarks have yet to be established. Bailey will receive an automobile allowance of $12,000 annually, plus a benefits program that includes insurance for medical, dental, vision and disability needs, plus life insurance. Bailey isn't close to being the top-paid person on campus. That's football coach Nick Saban, whose contract is worth as much as $5.62 million annually. Copyright 2012 The Associated Press.