Five year deal April 1, 2024 - April 30, 2029
Compensation:
April 1, 2024 - April 30, 2025 - $2,800,000
May 1, 2025 - April 30, 2026 - $2,900,000
May 1, 2026 - April 30, 2027 - $3,00,000
May 1, 2027 - April 30, 2027 - $3,100,000
May 1, 2028 - April 30, 2029 - $3,200,000
There is an automatic extension clause in the event that if DeVries finishes in the top six in the Big 12 standings in his first two years including all conference tie breakers it will be extended for one additional year through April 30, 2030.
If the extension is earned the supplemental compensation will increase to $3,300,000 during that additional year.
West Virginia will pay the payout to Drake.
The Mountaineers also will pay $100,000 for relocation.
Buy out:
DeVries will be required to pay the University, as liquidated damages, 37.5 percent of unpaid cumulative total compensation for the remainder of the term if you terminate your employment on or before April 30, 2028 (or April 30, 2029 if the automatic extension has been earned).
A termination by the University without cause provision consistent with past University practices, which will require a severance payment limited to 75-percent of the total compensation for the remainder of the term of the contract, and subject to your duty to mitigate where the University will only be required to pay the difference, if any, between the severance payment and the total compensation from your new position.
Annual incentives:
NCAA Tournament Appearances:
First Round: $20,000
Second Round: $30,000
Fourth Round: $40,000
Final Four: $100,000
National Championship: $200,000
Big 12 Conference:
Regular Season First Place or Tie: $40,000
Regular Season Second Place or Tie: $30,000
Regular Season Third Place or Tie: $20,000
Regular Season Fourth Place or Tie: $10,000
Tournament Championship: $40,000
Tournament Runner Up: $30,000
Season Ticket Sales:
1. Season ticket sales exceeds 5,000 - $10,000 or
2. Season ticket sales exceeds 6,000 - $20,000
Coach of the Year:
1. Big 12 Coach of the Year - $30,000
2. National Coach of the Year - $50,000
(as selected by the NABC or Associated Press)
Annual Academic Performance:
1. At least 930 - $10,000
2. At least 950 - $20,000
3. Team Grade Point Average of 2.65 (combined fall and spring semester) - $10,000
Compensation:
April 1, 2024 - April 30, 2025 - $2,800,000
May 1, 2025 - April 30, 2026 - $2,900,000
May 1, 2026 - April 30, 2027 - $3,00,000
May 1, 2027 - April 30, 2027 - $3,100,000
May 1, 2028 - April 30, 2029 - $3,200,000
There is an automatic extension clause in the event that if DeVries finishes in the top six in the Big 12 standings in his first two years including all conference tie breakers it will be extended for one additional year through April 30, 2030.
If the extension is earned the supplemental compensation will increase to $3,300,000 during that additional year.
West Virginia will pay the payout to Drake.
The Mountaineers also will pay $100,000 for relocation.
Buy out:
DeVries will be required to pay the University, as liquidated damages, 37.5 percent of unpaid cumulative total compensation for the remainder of the term if you terminate your employment on or before April 30, 2028 (or April 30, 2029 if the automatic extension has been earned).
A termination by the University without cause provision consistent with past University practices, which will require a severance payment limited to 75-percent of the total compensation for the remainder of the term of the contract, and subject to your duty to mitigate where the University will only be required to pay the difference, if any, between the severance payment and the total compensation from your new position.
Annual incentives:
NCAA Tournament Appearances:
First Round: $20,000
Second Round: $30,000
Fourth Round: $40,000
Final Four: $100,000
National Championship: $200,000
Big 12 Conference:
Regular Season First Place or Tie: $40,000
Regular Season Second Place or Tie: $30,000
Regular Season Third Place or Tie: $20,000
Regular Season Fourth Place or Tie: $10,000
Tournament Championship: $40,000
Tournament Runner Up: $30,000
Season Ticket Sales:
1. Season ticket sales exceeds 5,000 - $10,000 or
2. Season ticket sales exceeds 6,000 - $20,000
Coach of the Year:
1. Big 12 Coach of the Year - $30,000
2. National Coach of the Year - $50,000
(as selected by the NABC or Associated Press)
Annual Academic Performance:
1. At least 930 - $10,000
2. At least 950 - $20,000
3. Team Grade Point Average of 2.65 (combined fall and spring semester) - $10,000
