Contract Details:
Annual base salary: $550,000.
Additional guaranteed compensation:
March 21, 2016-March 31, 2017: $850,000.
April 1, 2017-March 31, 2018: $950,000.
April 1, 2018-March 31, 2019: $1.05 million.
April 1, 2019-March 31, 2020: $1.15 million.
April 1, 2020-March 31, 2021: $1.25 million.
Annual performance bonus incentives (performance bonuses are cumulative, except where noted:
20 regular season win: $10,000 (excluding exhibition).
Regular season Big Ten Conference champion: $50,000 (outright), $25,000 (shared).
NIT Invitation & Appearance: $10,000.
NIT Championship: $20,000.
Big Ten Conference Tournament Championship: $50,000.
Big Ten Coach of the Year (solo or shared): $20,000.
NCAA Tournament: $25,000 per game.
Final Four: $100,000.
Naismith College National Coach of the Year (solo or shared): $50,000.
Buyout terms:
If Pikiell terminates contract prior to March 31, 2021, Rutgers shall be entitled to receive the following:
Termination between March 21, 2016-March 31, 2018: $1 million.
Termination between April 1, 2018-March 31, 2019: $900,000.
Termination between April 1, 2019-March 31, 2020: $800,000.
Termination between April 1, 2020-March 31, 2021: $700,000.
If Pikiell is fired without cause by the university, Rutgers shall continue to pay his bi-weekly base salary under the terms of this agreement, and no other item, subject to the obligation on his part to exert reasonable efforts to secure other employment. Rutgers shall be entitled to offset that amount if Pikiell took an NBA or college basketball (Division I) head or assistant coaching job.
More details here:
http://www.nj.com/rutgersbasketball..._for_rutgers_coach_st.html#incart_river_index
