Shyatt Contract and Bowden / Shyatt Buy-out Released


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CLEMSON -- Clemson University will pay $886,000 over a four year period to cover the buy-out clauses for Head Football Coach Tommy Bowden at Tulane University and Head Basketball Coach Larry Shyatt at the University of Wyoming.

Each coach will be required to repay double their respective "buy-out" if
they leave Clemson for another coaching position (Bowden will have to
re-pay $ 1.2 million, while Shyatt will have to re-pay $ 572,000). Each
coach will also be required to pay to Clemson University, per their
respective Employment Agreement, their annual base salary multiplied by the
number of years remaining on their contract.
Athletic revenues -- funds generated through ticket sales, television and
radio rights, concessions and other game-related income -- will be used to
cover the costs. No state appropriations or IPTAY contributions will be used.



"This is a major investment by the University, but in doing so, we feel we
are taking a positive step toward establishing and solidifying long-term
stability in our football and our men's basketball programs," said Bobby
Robinson, director of athletics. "We feel this will give us a true
advantage over the long run. This is a firm, positive commitment to our
University, Coach Bowden, Coach Shyatt, and our football and men's
basketball programs. When these programs are healthy, the return on
investment for our entire athletic program is strong."




Clemson paid $ 500,000 to Tulane on Feb. 12 and will pay another $ 50,000
on Jan. 1, 2000, and Jan. 1, 2001.
Clemson also will reimburse Shyatt $ 50,000 he had initially paid from
personal funds to Wyoming and will pay the rest of his buy-out as follows:
$ 50,000 on Dec. 31, 1999; $ 75,000 on Dec. 31, 2000; $ 55,500 on Dec. 31,
2001; and $ 55,500 on July 1, 2002. Future payments are dependent on
Shyatt's continued employment as Clemson's basketball coach.
Clemson has not participated in contract buy-outs in the past, but
Robinson said the market for top coaches has changed.



"When we were in the process of interviewing for the head football coach
position, we said we were going to hire the best coach in America for
Clemson, and we believe we have done that in hiring Coach Bowden," he said.
"But every coach who met the established criteria had considerable buy-out
clauses in their contracts. The market has simply changed, and we
have to adapt accordingly if we want to attract the best coaches."



When Shyatt was hired, Clemson initially said the Athletic Department
would not assist with the buy-out, but Robinson said it would be unfair to
treat the two coaches differently.



"Once we reached a decision about Coach Bowden's contract, we felt an
obligation to do the same for Coach Shyatt retroactively," he said. "It's
simply a matter of fairness."
With the buy-out agreement, Shyatt's coaching contract was able to be
finalized. "When the Shyatts returned to Clemson, we said we had felt a
love and commitment here that we had not experienced anywhere else. This
contract shows a strong commitment from the University to our program, and
we deeply appreciate the commitment Clemson has made in regard to my
contract, as well as its assistance in the financial terms of my departure
from the University of Wyoming," Shyatt said.
"The success we experienced at the end of the season in our run to the
championship game in the National Invitation Tournament has carried over
into our recruiting season. We are excited about the renovation plans at
Littlejohn Coliseum, another example of our administration's commitment to
basketball and the general outlook for the program. We look forward to
continuing our charge with a passion to improve as we enter the 21st century."


OVERVIEW OF EMPLOYMENT AGREEMENT
BETWEEN CLEMSON UNIVERSITY AND LARRY SHYATT


Contract Term: April 20, 1998
March 31, 2003



Base Salary: $ 120,000 per year


Guaranteed Radio/TV Income: $ 125,000 per year


Guaranteed Endorsements: $ 75,000 per year
(Commercial, Apparel, Shoe,
Speaking and Equipment Endorsements, etc.)


Guaranteed Annuity: $ 30,000 per year


Disability Insurance: $ 10,000 per year


ADDITIONAL INCENTIVES:



In any University academic year that the
University's men's team has three or more
scholarship members to graduate from the
University and the University's men's
program achieves a six-year graduation rate
of 80% or more as determined by the NCAA: 10% of annual base salary;


POST SEASON PLAY COMPENSATION:



For winning Atlantic Coast Conference
Regular-Season Championship: 10% of annual base salary;


For winning Atlantic Coast Conference
Tournament: 10% of annual base salary;


For participation in the NIT: 5% of annual base salary;


Named ACC Coach of the Year: 5% of annual base salary;


Named NCAA Coach of the Year: 10% of annual base salary;


For participation in the NCAA Men's
Basketball Tournament: 10% of annual base salary, plus;


if the team reaches the NCAA Round of 16: 10% of annual base salary, plus;


if the team reaches the NCAA Round of 8: 10% of annual base salary, plus;


if the team reaches the NCAA Final Four: 10% of annual base salary, plus;


if the team wins the Men's NCAA
Basket

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