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.