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[londonexpat]

RUN.....don't walk to another position.  My last two positions have all been at public institutions as a VPIA and came with contracts!  Presidents change, Deans come and go, trustees move the "goal-posts"; you need to be able to provide stability to develop the types of relationships that are needed to raise money.  You are not doing the university any favors by not having a contract, they need you to provide leadership and stability and it is tough to do when you work in an culture, lie academia, that is resistant to change.  Sometimes it takes 18 months to get something that would take 6 months in industry to get done--any you cannot afford to not make the proper decision without some comfort of timing and waiting for the corrcet time.  I have raised more than 250 million during my 20 year career and every few months "priorities" change--but our office provides stability.  GET A CONTRACT :-)