Here is Ollie's contract
So here's what I got from Ollie's deal:
-$17.9 million compensation overall
-Base salary of $400k per year. Incentives for public relations, cosulting and media appearances
-Bonuses for Tournament wins, appearances, awards and conference titles
-Contract began in 2016 so breaks down as:
2016: $3 million
2017: $3 million
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2018: $3 million
2019: $3 million
2020: $3 million
-Buyout of $500k if he leaves for another DI job. Fee decreases by $100k each year. So if he took another job while under this contract - even in it - the buyout looks like it radically reduces. So lets say he took a job at Canisius or something while under contract - he gets $300k as a buy out
-No buyout/exit fee for an NBA jump
Stipulations (intersting)
-One clause says: "During the term of this agreement: (i) there is a change in the position of Athletic Director for the University such that Warde Manuel is no longer the Athletic Director, or: (ii) there is a change in the position of President of the University such that Susan Herbst is no longer the President, then in either such event the Coach shall have the right to terminate this agreement on or after the one (1) year anniversary of the earlier (i) the change of the President or Athletic Director, or (ii) the University's public announcement thereof, without being obligated to pay the termination see set forth in 11.2 and 11.2(a)
-The payment schedule has five installment of $400k. Additional compensation of $200k per year in deffered compensation ($1 million)
-If the school terminates employement of the Coach, the total sum of Deferred compensation provided for in this ageement shall immediately vest and become non-foreitable, and then be paid to the coach within ten (10) business days of the effective date of said termination.
-If the contract is terminated before May 2019, the total sum of Deerred Compensation acrued by the coach through the effective date shal immediately be paid. If the decision is before June 15, 2017, the sum is $600K
-Payment plan for all public relations events, speaking fees and media appearances are as follows: two payments of $1,200,000 to total $2,400,000 in year one, with the total increasing by $100k each year until the end of the contract. He MUST be at these events and will not exceed 20 events. Ollie himself has to go - he can't send a stand in. This includes Camps, Clinics, TV appearances, advertisements, consulting and the like.
Firing stipulations
-Physician agreement
-Resignation or retirement
-Refusal or neglect in his services in full
-Removed from the position or owtherwise disciplined for just cause as defined in the existing CBA between the University and AAUP
-Just cause includes: Violation of rules, violation of the staff, failure to render services or fulfill his duties hereunder, provided first the University furnish written notificaiton of any default under this provision and arrod the coach 10 days to remedy such default or comence diligently to remedy such default if it cannot be sured within 10 business days.
-If he's fired, he's owed the money BUT
-If he takes a job, during the tenure of the contract, he owes basically $3 million back to the university
So those are the terms.
The way I READ IT - is that just cause is broad. It probably won't be $9 million owed because if it falls under that provision, theres a bargaining process. With insurance, alumni funding, etc. My guess is the buyout would be in the $6 million range. Not good. But not insurmountable.
