Duke University's Digital Futures Task Force has written a "Draft Discussion Document for Duke Open Access Policy" for consideration.
Here's an excerpt:
Each Faculty member grants to Duke University permission to make available his or her scholarly articles and to reproduce and distribute those articles for the purpose of open dissemination. In legal terms, each Faculty member grants to Duke University a nonexclusive, irrevocable, royalty-free, worldwide license to exercise any and all rights under copyright relating to each of his or her scholarly articles, in any medium, and to authorize others to do so, provided that the articles are not sold. The Duke faculty author remains the copyright owner unless that author chooses to transfer the copyright to a publisher.
The policy will apply to all scholarly articles authored or co-authored while the person is a member of the Faculty except for any articles completed before the adoption of this policy and any articles for which the Faculty member entered into an incompatible licensing or assignment agreement before the adoption of this policy. The Provost or Provost's designate will waive application of the license for a particular article or delay access for a specified period of time upon written request by a Faculty member.
To assist the University in distributing the scholarly articles, each faculty member will make available, as of the date of publication or upon request, an electronic copy of the final author’s version of the article at no charge to a designated representative of the Provost’s Office in an appropriate format (such as PDF) specified by the Provost's Office. The Provost's Office will make the article available to the public in Duke’s open-access repository. In cases where the Duke license has been waived or an embargo period has been mutually agreed, the article may be archived in a Duke repository without open access for the period of the embargo, or permanently in cases of waiver.
Read more about it at "Information Wants to Be Sustainable."