Friday, May 7, 2010

Calhoun's Contract Details

Here's how Jim Calhoun's new contract breaks down:

7/1/09 - 6/30/10: $325,000
7/1/10 - 6/30/11: $350,000
7/1/11 - 6/30/12: $375,000
7/1/12 - 6/30/13: $400,000
7/1/13 - 6/30/14: $425,000

Then there's speaking, consulting and media fees:

7/1/09 - 6/30/10: $837,500 (Payment 1) $837,500 (Payment 2)
7/1/10 - 6/30/11: $975,000 (Payment 1) $975,000 (Payment 2)
7/1/11 - 6/30/12: $1,162,500 (Payment 1) $1,162,500 (Payment 2)
7/1/12 - 6/30/13: $1,300,000 (Payment 1) $1,300,500 (Payment 2)
7/1/13 - 6/30/14: $1,287,500 (Payment 1) $1,287,500 (Payment 2)

So, the combined totals for speaking, consulting and media fees are: $2 million for 2009-10; $2.3 million for 2010-11; $2.7 million for 2011-12; $3 million for 2012-13 and 2013-14.

That adds up to $13 million over five years.

Calhoun will also receive one month of ase salary for participation int he NCAA tournament, two months of base salary for advancement to the FFinal Four or three months of base salary for winning the NCAA championship. He is also eligible for additional compensation if named Big East and/or national coach of the year. Thes payments will only be made if the NCAA academic progress report (APR) standard for the men's basketball team has been met for both the most recently completed academic year and the last reported four-year rolling average.

Upon Calhoun's resignation or retirement, he'll receive either a one-time payment of $1 million or secure emplo yment in a full-time position in the school's division of athletics for a maximum of five years at an annual salary of $300,000.

More to come ...

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