Buyout terms of Swinney's new contract |
CLEMSON - Clemson head coach
Dabo Swinney's new contract was approved by the university's Board of Trustees Tuesday morning, and TigerNet received a copy of the buyout terms.
*University Buyout: At election of University, either (a) regular payment schedule over remaining term of contract, (b) payment within 90 days, in the amount based on the year of termination per schedule as follows. No mitigation required by Coach. 2016: $20,000,000 2017: $20,000,000 2018: $18,000,000 2019: $14,000,000 2020: $9,000,000 2021: $5,000,000 ---------------- Employee Buyout: Notify Director of Athletics prior to discussion to other employment. Should Employee terminate early to accept another head coaching position or a similar collegiate athletics position, amount owed to University would be in the lump sum payment within 90 days based on the year of termination per schedule as follows: 2016: $6,000,000 2017: $5,000,000 2018: $4,000,000 2019: $3,000,000 2020: $2,000,000 2021: $1,000,000 No amount owed if Coach leaves for NFL Head Coach Position Note: Athletic Director retains the right to waive or reduce Employee Buyout.
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