I’ll go for #4. A full-ride scholarship to anywhere with a stipend would be a dream come true. Of course, I’d have to actually decide what to study and probably need a year to get my maths up to scratch for any mathematics-oriented course.
If she sets this sort of thing up regularly it gives you even less reason to trust her! 
President who?!? 
Your regular job may not involve going into an office.
The cash for sure. I’m comfortable in my job.
I’d use the money for a new car for my wife, and fix up the house.
Given the OP’s four options, I’d take Option 1. A big chunk of change would be a life-changer for me right now. Option 2 would make me crazy in short order. Option 3 sounds like real work and I don’t want to do that. Option 4 would be great if I were 20 years younger, but I ain’t.
But what I really, really wanna do is work for Rhymer Enterprises in the Murderer For Hire Division. I’ll get over any qualms I may have about how I earn my living by taking occasional glorious vacations to beautiful locales and buy nice cars and clothes. And there’s always alcohol. 
Same here. In fact, I own my company, so I’d lose that too. I doubt my employees could keep it going, and I wouldn’t make enough extra money under the other options to pay for a replacement me.
Were I a younger man I’d jump on 4. But since I’m not, make it a 3. I love what I do and I’m experienced and competent enough that annual reviews have no power over me. For my last review my manager and I sat there for an hour making fun of the upper upper management.
ETA. We’d have to come to an agreement on vacation time though. My current accrual rate is one day per pay period. 
Boss won’t let me take off every other Friday though. 
Option 3 is quite obviously far more lucrative and offers vastly more security. Even quitting my existing job, a job with a two year guarantee of employment, plus continued employment if I perform well, is quite obviously more secure than a lot of jobs.
Option 1 for me. Not a tough decision, all in all. Option 2 is tempting, I’ll admit, but I like my current job and wouldn’t want to give it up.
Option 3. If the work’s not as interesting as what I’m doing now, then after making 4 years’ salary in 2 years of half-assed work, I retire. If it is as interesting as what I’m doing now, then I work reasonably hard for two years, and presumably keep the job for a few more years, until I’m in the mood to retire.
I’ll pick what’s behind Door #1.
Having been retired for five years now, the prospect of going back to the work routine holds very little interest to me. I don’t care if the actual work can be done in a couple of hours - I’d still hate spending forty hours a week inside a workplace.
Option 1 thanks.
I work from home in an easy job, so Option 2 would actually be worsening my situation, not to mention the boredom.
Option 3 would be good, but it sounds like I wouldn’t be able to continue working from home and would have to work in the company office, so no thanks, not interested in that even for double the pay! I’d do it for 5x the pay, but double just isn’t enough to make up for the lifestyle benefits I’m getting where I am right now.
Option 4 is the only one that made me have to think, as I’d love to go back to studying in a few years… Can I delay my choice until say 2017or 2018? If so, sign me up for Option 4. If not, I’ll take the cash thanks
#2 It’s far, far more than I make now at my shitty job with no benefits and I could do the required work in < 30 mins a day. Showing up for work and not embarrassing the boss or the company? No problem.
If I had any ambition, the #4-3 option would be great, but I don’t.
#4 interests me, the other do not. I don’t know why anyone would consider a PhD candidate my age, but I suppose if tuition were paid for, any university that accepts idiots would take me on.
#3 is one I’m already qualified for, and I’d probably be good at.
Option #4. But not for me, for my son.
Thing is also, that is the only option where I wouldnt have to pay extra taxes on.
Option 1 is a no brainer.
I get paid an extra years salary, so I’m effectively getting 200% of my salary for 12 months, and get to keep my current job security. Taking up a fixed term job on more money still means I’m looking for a new job at the end of that time.
Option 1 means I stay where I am and, if she just puts the money in an account that I can access, I don’t need to pay tax on it so it works out more than 200% of my wage net.
Winning.
I’d go with #1. Option 2 only comes with two weeks of vacation, I’m used to a lot more.
Thirty-two point five hours, actually. 10 to 4:30. And you’d basically be goofing off all day anyway.
I was going to say “Probably #1, but first let’s talk a bit more about what my duties would be in #3”.
But if this is possible:
Then we probably have a winner.
#2 would begin to drag after a while.
#4 would be a drastic pay cut, so no thank you.
#3 is tempting, but depends a bit on the commute and coworkers. I’ve turned down jobs with more money because I didn’t want the longer commute, and I like my coworkers now. It seems gauche to request an interview before accepting though. If it was, say, a job I could walk to with the office I have now and I could ignore my coworkers, I’d probably accept.
So #1 is the only option them.