In special cases, a professor who reaches 67 can be offered a new contract for 1 year in order for them to continue their research projects, supervise graduate students, and mentor junior faculty. The decision to offer a new contract for a professor who is 67 or older is given based on his/her ongoing research activities and research potential. In order to offer a new contract, Dean/Director formulates his/her recommendation in a written report. The case is then discussed and evaluated at a face-to-face meeting of the relevant Dean/Director with the President, the Vice President for Academic Affairs (VPAA), and the Vice President for Research and Development (VPRD). The recommendation of the President to offer a new contract is presented to the Board of Trustees together with the report of the Dean/Director and the CV of the faculty member. The contract for faculty members who are 67 or older requires them to teach 2 courses per year and offers a salary equal to half of their salary at the age of 67 without housing benefits.