Financial Term Sheet - Head Football Coach
Pennsylvania State Univeristy
James Franklin
Term
1/1/2022 - 12/31/2031
Base Salary
CY2022 $ 500,000
CY2023 $ 500,000
CY2024 $ 500,000
CY2025 $ 500,000
CY2026 $ 500,000
CY2027 $ 500,000
CY2028 $ 500,000
CY2029 $ 500,000
CY2030 $ 500,000
CY2031 $ 500,000
Supplemental Pay
CY2022 $ 6,500,000
CY2023 $ 6,500,000
CY2024 $ 6,500,000
CY2025 $ 6,500,000
CY2026 $ 6,500,000
CY2027 $ 6,500,000
CY2028 $ 6,500,000
CY2029 $ 6,500,000
CY2030 $ 6,500,000
CY2031 $ 6,500,000
Total Guranteed Annual Compensation (plus automobile allowance, if applicable)
CY2022 $ 7,000,000
CY2023 $ 7,000,000
CY2024 $ 7,000,000
CY2025 $ 7,000,000
CY2026 $ 7,000,000
CY2027 $ 7,000,000
CY2028 $ 7,000,000
CY2029 $ 7,000,000
CY2030 $ 7,000,000
CY2031 $ 7,000,000
Retention Bonus
CY2022 $ 500,000 payable 12/31/2022
CY2023 $ 500,000 payable 12/31/2023
CY2024 $ 500,000 payable 12/31/2024
CY2025 $ 500,000 payable 12/31/2025
CY2026 $ 500,000 payable 12/31/2026
CY2027 $ 500,000 payable 12/31/2027
CY2028 $ 500,000 payable 12/31/2028
CY2029 $ 500,000 payable 12/31/2029
CY2030 $ 500,000 payable 12/31/2030
CY2031 $ 500,000 payable 12/31/2031
Annual Loan For Life Insurance
CY2022 $ 1,000,000
CY2023 $ 1,000,000
CY2024 $ 1,000,000
CY2025 $ 1,000,000
CY2026 $ 1,000,000
CY2027 $ 1,000,000
CY2028 $ 1,000,000
CY2029 $ 1,000,000
CY2030 $ 1,000,000
CY2031 $ 1,000,000
Incentives (maximum of $1 million per year cumulatively)
Big Ten (highest applies)
Win/Ties for respective Division Title but through
tiebreakers, does not participate in Big Ten Championship Game $ 150,000
Appearance in Big Ten Championship Game $ 250,000
Win Big Ten Championship Game $ 350,000
Bowls (highest applies)
Win College Football Playoff National Championship Game $ 800,000
Runner-up College Football Playoff National Championship Game $ 500,000
College Football Playoff - Final Four $ 400,000
Appearance in one of the four bowl games that are a part
of the annual College Football Playoff rotation, but not one of
the two National Semifinal bowl games played that year $ 300,000
Appearance in any other bowl game $ 200,000
Coach of the Year (cumulative)
B1G Coach of the Year $ 100,000
National Coach of the Year $ 150,000
National Championship Compensation Adjustment
In all years remaining in contract term following a National Chamionship,
Supplemental Pay shall be increased per the contract by $800,000 (one time
during term of the contract)
Automobile
Per year allowance or vehicle through Dealer Car program $ 10,000
Other Benefits
All other normal and typical University benefits will accrue, including
health and welfare insurances
Perquisites
Up to 55 hours per calendar year use of private aircraft for personal use - taxable
Termination
By Coach Buyout
(Voluntary, to assume NFL/Collegiate Coaching position)
CY2022 $12 M (prior to 4/1/22)
$8 M (through 12/31/22)
CY2023 $ 6,000,000
CY2024 $ 2,000,000
CY2025 $ 2,000,000
CY2026 $ 1,000,000
CY2027 $ 1,000,000
CY2028 $ 1,000,000
CY2029 $ 1,000,000
CY2030 $ 1,000,000
CY2031 $ -
By University (without cause) Current Yr. (Base + Supplemental + Loan)
X number of remaining contract yrs
