University presidents are attractive candidates for corporate boards. Their credentials and their university's name lend an air of academic prestige to the companies they oversee. Presidents are typically well compensated for their service on boards of directors, earning at least six figures each year in cash fees and stock awards. The role can also pay off for universities through corporate partnerships and access to wealthy donors. However, the benefits come at a price. Presidents already put in long hours in their day jobs, and board meetings are time away from work. As a result, some university governing boards have begun to restrict the corporate-board service of their presidents. Some higher-education experts recommend that college chiefs take on no more than two directorships. In addition, governance experts say college presidents should be wary of corporate boards, in part because the stakes have gone up in the wake of the accounting scandals from earlier this decade. Subsequent federal legislation has given directors more responsibility as fiduciaries. They can be held accountable for management problems and could face fines after a corporate meltdown, while also bringing the university's name into a controversy.