Texas Tech football coach Kliff Kingsbury signed a five-year contract Monday, one with a long list of incentives and substantial downside protection should his tenure not meet the high hopes the Red Raiders have for him.
The deal is worth $10.25 million and up to $3 million more if he can achieve all the bonuses laid out.
Of the $10.25 million, $9.15 million — or 89 percent — is guaranteed.
The Avalanche-Journal obtained the contract Tuesday in response to an open records request filed with Tech.
Kingsbury’s base salary of $300,000 per year, plus rights fees for guaranteed outside income, will net him $1.85 million in 2013, $1.95 million in 2014, $2.05 million in 2015, $2.15 million in 2016 and $2.25 million in 2017.
In contrast to recent Tech coaches, Kingsbury is guaranteed a big chunk of that should the university decide to fire him without cause — i.e., for an unsatisfactory won-loss record.
He would be due the full amount of remaining base salary and guaranteed outside income in 2013, 2014 and 2015 and 75 percent of the remaining unpaid base salary and guaranteed outside income for each of the 2016 and 2017 contract years. The contract says such a buyout is due “regardless of his employment status after termination,” meaning Tech still would be on the hook if Kingsbury were fired and subsequently hired elsewhere.
In the contract extension former Tech coach Tommy Tuberville signed two years ago, Tech’s buyout to fire him without cause was base salary of $300,000 times years left on the deal. In contrast, Tech would have to pay Kingsbury $1.6875 million to fire him with one year left on the contract, $3.3 million with two years left, $5.35 million with three years left and $7.3 million with four years remaining.
In the last contract that Mike Leach signed with Tech in February 2009, only $2 million of $12.7 million — less than 16 percent — was guaranteed in the event of a without-cause firing.
Tuberville owes Tech a pro-rated $931,000 for leaving of his own volition with three years remaining on his deal. If Kingsbury took another major-college or NFL job of his own accord, he’d owe Tech $1.5 million if he left after the 2013 regular season, $1.25 million if he left after the 2014 regular season and $1 million if he left thereafter.
Of course, Tech and Kingsbury are more interested in seeing what he can do over the next five years, and the contract spells out all sorts of provisions.
The contract gives Kingsbury “creative license in the design of the football team’s equipment and team uniforms.”
“Coach has sole discretion on deciding when the football team will wear specific uniform combinations,” the contract reads. “In the event Coach’s choice of the football team equipment and team uniforms exceeds the football program’s budget, Coach may seek donations for such purposes.”
The contract offers bonuses in 10 categories, including on-field performance, team academics and attendance at Jones AT&T Stadium. He makes an extra $50,000 if the Red Raiders’ average paid home attendance is 95 percent of the listed capacity of 60,454.
Kingsbury’s incentives for regular-season victories starts with $75,000 for eight wins and goes up to $200,000 for 12 regular-season wins. He gets $50,000 for leading the FBS in total offense or total defense or $25,000 for finishing second through fifth in those categories.
There also are bonuses for Big 12 Conference titles, bowl appearances, rankings, conference and national coach of the year awards and his players’ grades. A team grade-point average of at least 2.65 for a full semester nets Kingsbury $20,000. A team GPA of 3.0 or better is worth $30,000.
Kingsbury is limited to no more than $600,000 in bonuses for one year.
He was allocated $2.125 million to hire a staff, and the contract caps yearly increases on that pool to a maximum of 3 percent.
Kingsbury and his agent, Erik Burkhardt, negotiated the deal over the last two months. Tech hired Kingsbury on Dec. 12, at which time Athletic Director Kirby Hocutt said the two sides had agreed to a four-year contract worth $2 million annually.
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