HARTFORD – From UConn’s official press release, here is the structure of Kevin Ollie’s Contract
Ollie will receive a base salary of $400,000 per calendar year and for 2013 he will receive $800,000 for institutional speaking engagements and media related appearances for a total of $1,200,000. The payment for institutional speaking engagements will increase by $50,000 each year. Ollie’s total compensation for each year of the agreement will be: 2013-$1,200,000; 2014-$1,250,000; 2015-$1,300,000; 2016-$1,325,000; 2017-$1,340,000; 2018-$502,500 (annualized from Jan. 1-April 15).
Ollie will receive the following payments for postseason performance: one month of annual base salary ($33,333) for winning a conference regular season championship; one month for winning a conference postseason tournament; one month for participating in the NCAA tournament; one month for reaching the Regional Semifinals of the NCAA tournament; one month for advancing to the NCAA Final Four; and two months for winning the national championship. Ollie will also receive a half month salary bonus ($16,666) for being named a national or conference coach of the year.
Ollie will receive a payment of $10,000 for an annual NCAA Academic Progress Rate (APR) score of 930 or above in a single year. A four-year APR score of 930 or above will result in a one-time payment of $50,000.
In the event that the UConn men’s basketball APR score is below the 930 standard for an academic year, there will be no postseason payments and a financial sanction could be imposed in the form of withholding payment of the equivalent amount of two weeks compensation of base salary. Two consecutive years of an annual APR score of below 930 could result in a suspension without pay or termination of employment with just cause. Once the four year APR score for the men’s basketball team reaches 930, the APR language in the contract will revert to the standard APR language in all UConn head coaches’ contract.
In the event that Ollie accepts a position during the term of this agreement as the head coach or assistant coach at any other NCAA Division I team or professional team, he will owe the following to UConn: $3,000,000 in 2013; $2,000,000 in 2014; $1,000,000 in 2015; $800,000 in 2016 and 2017. The same will be owed to Ollie by UConn if the agreement is terminated for any reason other than just cause.
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