Principals today are expected to competently perform a variety of roles, particularly those of instructional leader and school manager, under increasing public scrutiny. In general, the school principal has few statutory protections and limited constitutional due-process rights. The problem is that in many cases, principals' employment contracts do not adequately reflect the complex nature of their position. This paper describes Illinois statutes pertaining to principal responsibilities, evaluation, and reassignment procedures. It concludes that principals in Illinois serve at the will of boards of education; therefore, principals' rights should be clearly stated in the employment contract. The paper identifies necessary elements of the principal's contract, which include a complete job description, specific evaluation methods and criteria; and provisions for professional growth. In addition, reassignment or termination should be based on inadequate performance of job responsibilities as outlined in the contract. The contract should include a provision specifying that the principal cannot be released for failure to perform tasks for which he/she received no training. (LMI)