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    Dawn Staley Term Sheet

    Uploaded by

    Tim Renaud
    The proposed employment agreement outlines the terms for Dawn Staley to serve as the Head Women's Basketball Coach at the University of South Carolina from October 2021 through April 2028. Over the term of the contract, her annual base salary will remain $1,000,000 while her guaranteed outside compensation will increase each year from $1,900,000 to $2,500,000. The contract also provides performance bonuses for on-court successes and outlines liquidated damages in the event of early termination by either party.

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    Dawn Staley Term Sheet

    Uploaded by

    Tim Renaud
    3K views4 pages
    The proposed employment agreement outlines the terms for Dawn Staley to serve as the Head Women's Basketball Coach at the University of South Carolina from October 2021 through April 2028. Over the term of the contract, her annual base salary will remain $1,000,000 while her guaranteed outside compensation will increase each year from $1,900,000 to $2,500,000. The contract also provides performance bonuses for on-court successes and outlines liquidated damages in the event of early termination by either party.

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    Dawn Staley Term Sheet

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    The proposed employment agreement outlines the terms for Dawn Staley to serve as the Head Women's Basketball Coach at the University of South Carolina from October 2021 through April 2028. Over the term of the contract, her annual base salary will remain $1,000,000 while her guaranteed outside compensation will increase each year from $1,900,000 to $2,500,000. The contract also provides performance bonuses for on-court successes and outlines liquidated damages in the event of early termination by either party.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views4 pages

    Dawn Staley Term Sheet

    Uploaded by

    Tim Renaud
    The proposed employment agreement outlines the terms for Dawn Staley to serve as the Head Women's Basketball Coach at the University of South Carolina from October 2021 through April 2028. Over the term of the contract, her annual base salary will remain $1,000,000 while her guaranteed outside compensation will increase each year from $1,900,000 to $2,500,000. The contract also provides performance bonuses for on-court successes and outlines liquidated damages in the event of early termination by either party.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 4

    Draft Term Sheet

    Head Women’s Basketball Coach

    The following is a summary of the essential terms of a proposed Employment Agreement with
    Head Women’s Basketball Coach Dawn Staley. The terms set forth herein are subject to the
    approval of the University of South Carolina Board of Trustees.

    1. Title: Head Women’s Basketball Coach

    2. Term: October 1, 2021 – April 15, 2028

    The term “Contract Year” shall mean each period of April 16 through April
    15 or portion thereof, during the term.

    3. Financial Terms:

    Contract Year Base Salary Outside Total


    Compensation
    (Guaranteed)
    10/01/21 – 04/15/22^ $1,000,000* $1,900,000* $2,900,000*
    04/16/22 – 04/15/23 $1,000,000 $2,000,000 $3,000,000
    04/16/23 – 04/15/24 $1,000,000 $2,100,000 $3,100,000
    04/16/24 – 04/15/25 $1,000,000 $2,200,000 $3,200,000
    04/16/25 – 04/15/26 $1,000,000 $2,300,000 $3,300,000
    04/16/26 – 04/15/27 $1,000,000 $2,400,000 $3,400,000
    04/16/27 – 04/15/28 $1,000,000 $2,500,000 $3,500,000

    Additionally, the University will make the remaining required $300,000 contribution to
    Coach’s split dollar program for 2022 as set forth in Amendment #6 (dated April 20, 2018)
    to her existing Employment Agreement dated May 10, 2008.

    * For the first Contract Year, compensation amounts listed will be annualized based on a
    full Contract Year of April 16, 2021 – April 15, 2022. Therefore, Coach will receive a pro-
    rated amount of such compensation based on an effective date of October 1, 2021 for
    the new Employment Agreement.

    4. Performance Compensation: Coach shall have the opportunity to earn up to $680,000 in


    Performance Compensation each Contract Year, as follows:

    (a) SEC Regular Season Conference Wins. Coach may earn:

    $15,000 for winning 11 or more SEC Regular Season games in the 16-game format.

    (b) SEC Championships. Coach may earn the greater of:

    1
    (1) $75,000 for winning the SEC Regular Season Championship; or
    (2) $50,000 for winning the SEC Tournament Championship; or
    (3) $100,000 for winning both the SEC Regular Season Championship and the
    SEC Tournament Championship.

    (c) NCAA Post Season Tournament (not the NIT Post-Season Tournament). Coach
    may earn the greater of:

    (1) $25,000 for an appearance in the NCAA Post-Season Tournament; or


    (2) $50,000 for an appearance in the NCAA Post-Season Tournament’s final 16
    teams (Sweet 16); or
    (3) $100,000 for an appearance in the NCAA Post-Season Tournament’s final
    8 teams (Elite 8); or
    (4) $250,000 for an appearance in the NCAA Post-Season Tournament’s final
    4 teams (Final Four); or
    (5) $500,000 for winning the NCAA Post-Season Tournament National
    Championship.

    (d) Coach of the Year. Coach may earn:

    (1) $25,000 for being named the SEC Coach of the Year by the AP or SEC
    Coaches, or both; and
    (2) $25,000 for being named the National Coach of the Year by the AP, or
    Naismith, or both.

    (e) Top 25 in Final Poll. Coach may earn:

    $15,000 for finishing in the Top 25 in the final poll of the AP or Coaches Poll, or
    both.

    5. Automobile: Use of 2 automobiles.

    6. Club Membership. Use of membership privileges at a mutually agreed upon golf-


    country club. Coach shall be responsible for payment of all personal expenses and costs
    associated with the use of such membership, such as food and beverage charges.

    7. Athletics Tickets:

    (a) Women’s Basketball: Use of an executive suite (16 seats) in the Colonial Life
    Arena, and 14 additional tickets, for each University regular season home
    women’s basketball game.

    2
    (b) Football: 4 tickets and 2 sideline passes (non-transferrable) to each University
    regular season home football game.

    (c) Men’s Basketball: 4 tickets to each University regular season home men’s
    basketball game.

    8. Summer Basketball Camps. Use of athletics department facilities for 3 weeks each
    summer, as mutually agreed upon, for Coach to conduct summer basketball campus.
    Coach shall pay all costs associated with facilities usage and shall comply with University
    policies and requirements regarding on-campus summer camps.

    9. Family Travel: The University will allow two family member/personal guests of Coach to
    travel with the University women’s basketball team on charter airlines/buses to away
    games. Team meals and hotel accommodations will be provided.

    10. Termination of Employment.

    (a) Termination Due to Coach’s Death: Employment Agreement terminates


    automatically upon death of Coach.

    (b) Termination Due to Coach’s Disability: Employment Agreement terminates upon


    disability in the event of Coach’s substantial physical or mental incapacity lasting
    in excess of 45 consecutive days which cannot reasonably be accommodated by
    the University and which interferes with Coach’s ability to perform essential
    functions of her duties and responsibilities.

    (c) Termination by University for Cause: Employment Agreement may be terminated


    for cause. In such event, Coach’s right to receive further Base Salary or Outside
    Compensation ends on the effective date of termination.

    (d) Termination By University Without Cause:

    Employment Agreement may be terminated by the University without cause upon


    3 days written notice. In such event, the University shall pay liquidated damages
    as follows:

    If Terminated During Liquidated Damages Amount


    Contract Year: to be Paid by University:

    10/01/21 – 04/15/22: $3,000,000

    04/16/22 – 04/15/23: $2,500,000

    04/16/23 – 04/15/24: $2,000,000

    3
    04/16/24 – 04/15/25: $1,500,000

    04/16/25 – 04/15/26: $1,000,000

    04/16/26 – 04/15/27: $ 500,000

    04/16/27 – 04/15/28: $ 250,000

    (e) Termination by Coach: Employment Agreement may be terminated by Coach


    upon 3 days written notice. In such event, Coach shall pay liquidated damages as
    follows:

    If Terminated During Liquidated Damages Amount


    Contract Year: to be Paid by Coach:

    10/01/21 – 04/15/22: $5,000,000

    04/16/22 – 04/15/23: $4,500,000

    04/16/23 – 04/15/24: $4,000,000

    04/16/24 – 04/15/25: $3,500,000

    04/16/25 – 04/15/26: $3,000,000

    04/16/26 – 04/15/27: $2,500,000

    04/16/27 – 04/15/28: $2,000,000

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