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Daniels gives IU's Fall 2012 commencement speech

BLOOMINGTON, Ind. -- Gov. Mitch Daniels will become the next president of Purdue in January but that did not stop him from delivering the commencement speech for Indiana University's Fall 2012 graduating class.

Purdue approved Daniels' five-year contract on Saturday.

He will get about $420,000 a year plus incentives.

Daniels will take his new post on Jan. 15, the day after his term ends as governor.

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