This sounds strikingly similar to what's going on at my school, Rensselaer Polytechnic Institute. President has a 5mm+ salary and took only a 5% pay cut while laying off (not furloughing!) 60 faculty members.
$945,000 in salary
$276,474 in bonuses
$31,874 in nontaxable benefits
$5.8 million in deferred compensation
plus a 19,500sq.ft. mansion. :|p.s. hope you enjoy troy :)