The skill set asked of today's top educators is demanding, with higher education boards of trustees targeting versatile leaders able to raise funds, speak to the media and serve as an institution's academic authority, all while maneuvering among constituent groups seeking their time and attention. Community college presidents, in particular, handle these tasks in a much-scrutinized atmosphere of access, affordability and responsiveness to community need, which makes terms of the contract between an administrator and institution all the more important. According to academic leaders, board members and industry experts involved in the contract negotiation process, first-time and seasoned presidents alike should be as careful with their own interests as those of the college they're serving. Prospective presidents today must recognize that contracts--whether an initial agreement or renewal of an established arrangement--can set the stage for a productive relationship between themselves and the board, or, in the worst-case scenario, provide an equitable exit plan that leaves all parties relatively unscathed.