Whit Babcock’s contract details

Will Stewart, TechSideline.com, on January 29, 2014
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New Virginia Tech AD Whit Babcock talks to the media as Charles Steger looks on.

New Virginia Tech AD Whit Babcock talks to the media as Charles Steger looks on.

Today at the press conference to introduce new athletic director Whit Babcock, Virginia Tech issued the details of his contract. Here’s a picture of the handout, and here are the details:

 

BRADLEY WHITNEY BABCOCK CONTRACT TERMS

  • Term: February 17, 2014 – June 30, 2020
  • Annual Salary: $470,000; Minimum 5% raise per annum beginning January 1, 2015
  • Annual Retention Incentive: $140,000 – payable beginning December 31, 2014.
  • Annual dues: Blacksburg Country Club
  • Courtesy cars: Two per annum
  • Signing Bonus: $325,000
  • Additional Note: With the exclusion of the signing bonus, annual first year compensation cap is $750,000.

Team performance bonuses:

1. FOOTBALL

a. Participation in a post-season bowl game, at the end of the 2014 season and/or thereafter, additional compensation equal to one and one-half month’s salary.
b. Should bowl game be one of the College Football Playoff contests, bonus shall equal two months’ salary.
c. Should team win the National Championship, additional $25,000.

2. BASKETBALL (Men’s or Women’s): National Championship win, $25,000 per team.

3. MEN’S BASKETBALL

a. Team makes a post-season NCAA tournament appearance: $15,000.
b. Team advances to Sweet 16 round of post-season NCAA Tournament: additional $10,000.

4. WOMEN’S BASKETBALL

a. Team makes a post-season NCAA tournament appearance: $10,000.
b. Team advances to Sweet 16 round of post-season NCAA Tournament: additional $5,000.

5. UNIVERSITY OLYMPIC TEAM SPORT wins a national championship: $15,000 per national championship team.

6. UNIVERSITY TEAM SPORT wins an Atlantic Coast Conference (ACC) championship: $10,000 per ACC championship.

7. STUDENT ATHLETE ACADEMICS

a. Cumulative intercollegiate student athlete grade point average is 3.0 or higher at the end of each academic year: $10,000.
b. Cumulative intercollegiate student athletes achieve an Academic Progress Rate (*APR*) 960 or above based on the APR formula of the NCAA at the end of the academic year: $10,000.


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