http://mediad.publicbroadcasting.ne...ct2.pdf?_ga=1.109577221.1442197626.1452020510
Is this effectively the end of the contract?
It is pretty common knowledge around here (among those of us that follow these things) that Bill Snyder has an annually renewing contract that runs for five years. It was initially structured for five years (in 2013) and has a clause that renews it for one year upon the completion of each season. So, Bill always has 5 years left on his contract (for recruiting and media purposes).
This is all true, BUT the compensation defined in the contract (salary and buyout) is not annually renewing. It has specific time periods and ending dates. The last year that Snyder has a defined compensation plan is 2017-2018. If Snyder is going to continue coaching next season, then he needs to sit down with the AD and amend his contract. Without an amendment his contract basically expires after this season. I have attached a copy of the contract, merchandising agreement, and amendments above, so others that may be interested can review the language.
It appears to me that Coach's contract is basically up after this season, and if he wants to keep going he will need to renegotiate with the AD. IMO, this is another sign that the end is likely near.
Key Provisions:
The extension agreement is the last line in 3.01(a) - For each Contract Year completed under this Agreement, the January 31, 2018 date (expiration of the contract) shall be extended for one calendar year.
Compensation is defined in 3.02(a) - As compensation for the services performed under this agreement, coach shall be paid....($1,890,000.00) for the 2017-2018 Contract Year ("Base Salary"). This level of financial commitment shall not extend beyond January 31, 2018, unless stipulated in a subsequent written amendment between the parties.
Continued Employment in 3.07 - Upon the ending of Coach's employment as Head Football Coach as described in Article IV, except if Coach is terminated for cause, KSA agrees to continue Coach's employment as a Special Assistant to the Athletic Director for as long as Coach is physically and mentally able, with the fringe benefits (described in Section 3.04), at a pay rate of $250,000.00 per year.
Buy Out terms are defined in 4.01(a) - KSA or the University have the right to terminate Coach's employment under this Agreement at any time without cause, in which event KSA will pay Coach:
The sum of Two Million Dollars... If Coach is terminated pursuant to this provision after January 14, 2018, said termination will be without liability to Coach and all obligations of KSA or University shall cease as of the effective date of said termination, except for such obligations that may accrue pursuant to Section 3.07.
Is this effectively the end of the contract?
It is pretty common knowledge around here (among those of us that follow these things) that Bill Snyder has an annually renewing contract that runs for five years. It was initially structured for five years (in 2013) and has a clause that renews it for one year upon the completion of each season. So, Bill always has 5 years left on his contract (for recruiting and media purposes).
This is all true, BUT the compensation defined in the contract (salary and buyout) is not annually renewing. It has specific time periods and ending dates. The last year that Snyder has a defined compensation plan is 2017-2018. If Snyder is going to continue coaching next season, then he needs to sit down with the AD and amend his contract. Without an amendment his contract basically expires after this season. I have attached a copy of the contract, merchandising agreement, and amendments above, so others that may be interested can review the language.
It appears to me that Coach's contract is basically up after this season, and if he wants to keep going he will need to renegotiate with the AD. IMO, this is another sign that the end is likely near.
Key Provisions:
The extension agreement is the last line in 3.01(a) - For each Contract Year completed under this Agreement, the January 31, 2018 date (expiration of the contract) shall be extended for one calendar year.
Compensation is defined in 3.02(a) - As compensation for the services performed under this agreement, coach shall be paid....($1,890,000.00) for the 2017-2018 Contract Year ("Base Salary"). This level of financial commitment shall not extend beyond January 31, 2018, unless stipulated in a subsequent written amendment between the parties.
Continued Employment in 3.07 - Upon the ending of Coach's employment as Head Football Coach as described in Article IV, except if Coach is terminated for cause, KSA agrees to continue Coach's employment as a Special Assistant to the Athletic Director for as long as Coach is physically and mentally able, with the fringe benefits (described in Section 3.04), at a pay rate of $250,000.00 per year.
Buy Out terms are defined in 4.01(a) - KSA or the University have the right to terminate Coach's employment under this Agreement at any time without cause, in which event KSA will pay Coach:
The sum of Two Million Dollars... If Coach is terminated pursuant to this provision after January 14, 2018, said termination will be without liability to Coach and all obligations of KSA or University shall cease as of the effective date of said termination, except for such obligations that may accrue pursuant to Section 3.07.
