Buyout terms of Swinney's new contract


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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
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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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