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URI Coach Cox’s Contract Could Total Nearly $1 Million, Includes Country Club and Auto

Tuesday, April 10, 2018

 

If David Cox goes on a big run in the NCAA tournament, the first-year coach can get a payday of nearly $1 million.

Regardless of winning or losing, the deal includes country club and auto payments annually -- totaling $20,000. Cox is provided an $8,000-a-year country club payment and also receives an auto allowance of $12,000 per year.

Cox can receive hundreds of thousands of dollars for winning -- but tops out at just $10,000 for "superior academic achievement."

SLIDES: 16 THINGS TO KNOW ABOUT THE CONTRACT BELOW

A GoLocal review of the bonus-laden contract unveils that if the first-time head basketball coach were to make a run deep into the NCAA tournament, then the triggering bonuses catapult his compensation into the salary range of former coach Dan Hurley.

With health and retirement benefits and basketball camp revenue -- the number could exceed $1 million.

The 21-page contract outlines his duties:

"The following duties of the Coach must be performed in good faith and through the best efforts of the Coach: (1) promotion of the academic and social welfare of the student-athletes in his charge; (2) recruiting, teaching, supervision and evaluation of student-athletes in his charge; (3) recruiting, teaching and supervision and evaluation of the performance of assistant coaches and other men's basketball staff members; (4) management of the men's basketball budget, which shall be established after consultation with the Athletic Director or his designee..."

 

Related Slideshow: 16 Things to Know About URI Coach Cox’s Contract

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5 Years

"The term of this Agreement shall be for the period beginning on April 9, 2018, and ending on April 8, 2023 (the "End Date") subject to the terms and conditions stated herein (the "Term"). During the Term, each period from April 9, through and including the following April 8 shall be referred to as a "Contract Year" (except that the final Contract Year shall conclude on the End Date). This employment in no way grants the Coach a claim to tenure in employment, or any years of employment attributable to tenure within the University."

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Base of $300,000

"An annual base ("Base Salary") salary of $300,000.00 (Three Hundred Thousand and no/100 Dollars) effective April 9, 2018, payable in bi-weekly installments during the Term of the Agreement. 

3.1.2 It is agreed that the compensation so paid shall be subject to the same payroll deductions (for example, state and federal taxes, F.I.C.A. withholding, and employee contributions to the retirement plan) that apply to the University's non-academic administrative employees. 

3 .1.3 An annual contribution to the University's retirement plan in accordance with the University's personnel policies pertaining to all non-academic administrative personnel. The Coach shall also be eligible to participate in group insurance, and retirement programs and voluntary payroll deduction programs, and disability insurance, on the same basis."

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Gate Receipts

"The Coach will also receive, in addition to his Base Salary, the sum of $225,000.00 (Two Hundred Twenty-Five Thousand and no/100 Dollars) in each Contract Year as a guaranteed portion of the gate receipts for all home games administered by the URI Athletic Department. Said amount shall be paid in equal installments ( on the pay date closest to but not after July 15, October 15, January 15, and April 8, of each Contract Year. The first payment shall be on the pay date closest to but not after July 15, 2018."

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Booster Bonus

"The Coach will also receive, in addition to his base salary, the sum of 
$125,000.00 (One Hundred Twenty-Five Thousand and no/100 Dollars) in each Contract Year to be paid in equal installments of $31,250.00 (on the pay date closest to but not after July 15, October 15, January 15, and April 8, of each Contract Year for his appearance and participation at Athletic events and functions reasonably scheduled and approved by the Director of Athletics. The first payment shall be on the pay date closest to but not after July 15, 2018."

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Car Allowance

"The University shall provide Coach with a motor vehicle stipend, in the amount of $12,000.00 (Twelve Thousand and no/100 Dollars) annually and payable in bi­weekly installments during the Term of this Agreement commencing on May 1, 2018, which motor vehicle is to be used by the Coach under the University's rules and regulations. Insurance and maintenance of the motor vehicle shall be the sole responsibility of Coach."

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NCAA Tournament Bonuses

"The University shall pay to Coach a bonus, in addition to his Base Salary, in the amount of $20,000.00 (Twenty Thousand and no/100 Dollars), for each first, second, and third round NCAA post season tournament game in which the Team participates during the Term. 

The University shall pay to Coach a bonus, in addition to his Base Salary, in the amount of $25,000.00 (Twenty-Five Thousand and no/100 Dollars), for each "Sweet 16"; "Elite 8"; "Final 4"; and "National Championship" NCAA post season tournament game in which the Team participates during the Term."

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NIT Doesn't Pay Very Well

"The University shall pay to the Coach a bonus, in addition to his Base Salary, in the amount of $5,000.00 (Five Thousand and no/100 Dollars) if the Team is selected and participates in the NIT post season tournament (amount is on a "tournament" basis)."

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Coach of the Year

"If the Coach is named the Atlantic 10 or successor conference (the 
"Conference") Coach of the Year (solo or shared), he will receive a one-time payment from the University of $5,000.00 (Five Thousand and no/100 Dollars) (for each Contract Year in which he achieves such award); 
(b) If the Coach is named the NCAA National Coach of the Year, he will receive a one-time payment of $10,000.00 (Ten Thousand and no/100 Dollars) (for each Contract Year in which he achieves such award)."

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Championships Pay

"If the Team earns the number one (1) seed in the Atlantic 10 or successor conference championship (the "Conference"), Coach will receive a one-time payment of $20,000.00 (Twenty-Thousand and no/100 Dollars) (for each Contract Year in which the Team earns the number one (1) seed); 
If the Team wins the Conference Tournament Championship, the Coach will receive a one-time payment of $20,000.00 (Twenty-Thousand and no/100 Dollars) (for each Contract Year in which the Team wins such championship)."

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Radio and TV

"Coach shall be paid bi-annually (payable on the pay dates closest to but not after 9/20 and 3/20, commencing on September 20, 2018) the sum of $25,000.00 (Twenty­Five Thousand and no/100 Dollars) per Contract Year for his participation in the URI Men's Basketball radio program; and (b) in addition, Coach shall be paid bi-annually (payable on the pay dates closest to but not after 9/20 and 3/20, commencing on September 20, 2018) the sum of $25,000.00 (Twenty-Five Thousand and no/100 Dollars) per Contract Year for his participation in the URI Men's Basketball Television Show. If Coach is available to participate in the said radio program and Television Show the University shall remain obligated to make the payments hereunder even if the radio program or Television Shows are canceled by the University."

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Bonus Based on Revenue

"Coach shall be paid the sum of $5,000.00 (Five Thousand and no/100 Dollars) in any Contract Year of this Agreement that the gross revenue generated by the Men's Basketball Excellence Fund exceeds $500,000.00 (Five Hundred Thousand and no/100 Dollars)."

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Season Ticket Bonus

"Coach shall be paid the sum of $10,000.00 (Ten Thousand and no/100 Dollars) in any Contract Year of this Agreement that the gross ticket revenue for the Team's home games at the Ryan Center or other venue included in the University's season ticket package exceeds $1,100,000.00 (One Million One Hundred Thousand and no/100 Dollars)."

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GPA Bonus

"Coach shall be paid beginning academic year 2018-2019 the sum of $7,500.00 (Seven Thousand Five Hundred and no/100) for each Academic Year that the Team grade point average is no less than 2.8; or (b) the sum of $10,000.00 (Ten Thousand and no/100 Dollars) for each Academic Year that the Team grade point average is no less than 3.0, but not both."

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Country Club 

"The University will reimburse Coach for the actual costs of the reasonable dues and fees of a country club or beach club membership, (including initiation fees, monthly dues and food minimums) not to exceed the sum of $8,000.00 (Eight Thousand and no/100 Dollars) per Contract Year for the Coach through the Men's Basketball Excellence Fund."

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VIP Tickets

"The Coach shall be entitled to receive a total of 20 VIP quality home game tickets for each game played at the Ryan Center. In addition, the University shall provide Coach with two (2) tickets to each session of the NCAA Men's Basketball "Final Four" in each Contract Year. Further, the University shall provide the Coach with two (2) parking passes for all University athletic events. In addition, the Coach shall receive 12 game tickets and each assistant coach and basketball administrative staff member shall receive 4 game tickets for Atlantic 10 Conference, NCAA and NIT Tournament games in which the Team participates. Game tickets above those set forth herein shall be paid by the person to whom they are provided. Coach and all persons provided tickets hereunder shall be solely responsible for payment of any and all taxes, including penalties and interest, related to the value of said tickets, if any, and further agrees to indemnify, defend and hold harmless the University, and its governing bodies, their respective employees and agents from any claim, demand, payment, loss or liability related in any way to the assessment or payment of said taxes, penalties and interest."

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Academic Progress Bonus

"Coach shall be paid an Academic Progress Rate ("APR") bonus beginning at the end of the 2018-2019 academic year and each academic year thereafter of (i) $10,000.00 (Ten Thousand and no/100 Dollars) for achieving a single year APR of 1000; or (ii) $7,500.00 (Seven Thousand Five Hundred and no/100 Dollars) for achieving a single year APR of 990; or (iii) $5,000 (Five Thousand and no/100 Dollars) for achieving a single year APR of 980. It is understood and agreed that these bonus amounts are not cumulative."

 
 

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