COLLEGE STATION, Texas—The employment contract for Texas A&M head football coach Mike Sherman was approved by the Texas A&M University System Board of Regents on Friday.
Sherman was introduced by Texas A&M Interim President Dr. Ed Davis and Director of Athletics Bill Byrne as the Aggies’ head football coach on Monday, Nov. 26. Any contract involving a total of $300,000 or more, or having a term longer than five years, must be approved by the Board of Regents.
Sherman’s employment contract calls for an annual salary of $500,000 with a supplemental payment of $1.3 million. The contract covers a seven-year period from Feb. 4, 2008 through Mar. 31, 2015. The starting date can be earlier if the parties mutually agree. Sherman is fulfilling a commitment as the offensive coordinator for the NFL’s Houston Texans’ franchise.
“We are extremely pleased the Texas A&M System Board of Regents has approved this contract,” Byrne said. “Mike Sherman is an outstanding coach and the perfect fit for Aggieland. He is doing a magnificent job handling both his Texans’ job and as the Aggies’ head coach. I think his integrity speaks for itself. He is to be commended for keeping his commitment to the Texans’ organization. He is working hard on the recruiting trail and renewing friendships with the outstanding high school coaches here in the state of Texas.”
There are incentives built into the contract including $37,500 for reaching the Big 12 Championship game and an additional $37,500 for winning the title game. An appearance in a post-season bowl game is set at $37,500, but if the bowl is a BCS game the payment is set at $75,000. If the Aggies reach the BCS national championship game, the reward is $100,000. If Sherman is named the Big 12 Coach of the Year by a vote of the league coaches, he receives $25,000. If he is named the Paul “Bear” Bryant National Coach of the Year, he receives $50,000. If the Aggie football team is named the National Champions by the Associated Press, Sherman will receive $100,000.
FOR IMMEDIATE RELEASE, Friday, Dec. 7, 2007
AGGIE BASEBALL COACH ROB CHILDRESS CONTRACT AMENDED
COLLEGE STATION, Texas—The employment contract for Texas A&M head baseball coach Rob Childress has been amended and approved by the Texas A&M University System Board of Regents on Friday.
Childress signed his original contract with Texas A&M on July 1, 2005. It was a five-year deal which called for an annual salary of $185,000 with a $40,000 supplemental payment. The contract did not include any incentive clauses or signing bonus.
“The Aggie baseball program under the direction of Rob Childress has made great strides and the future looks extremely bright,” Texas A&M Director of Athletics Bill Byrne said. “We were a step away (Super Regionals) from Omaha last year. I have a great deal of confidence in Rob and this is the right thing to do.”
The amended contract is extended five years to 2012. His new contract calls for an annual compensation of $215,000 plus a supplemental payment of $80,000 for the first three years and then $75,000 for the final two years. By executing this contract, Childress receives a one-time signing bonus of $75,000.
There are several incentives included in the contract including extra pay for extra work which would include $5,000 for winning the Big 12 Conference regular-season championship. If the Aggies reach the NCAA Super Regional Championship, he will receive an additional $10,000. If the team advances to the College World Series, he will receive an added $10,000. If the Aggies win the national championship, instead of the $10,000 extra pay for extra work, Childress would be in line for an extra $25,000. The combined incentives would be capped at $40,000 for one season if the Aggies reached each goal, including the national championship.
The Aggie baseball team finished with a 48-19 overall record last spring. The squad won the Big 12 Conference Championship Tournament, won an NCAA Regional and advanced to the NCAA Super Regionals.
FOR IMMEDIATE RELEASE, Friday, Dec. 7, 2007
SEPARATION AND RELEASE AGREEMENT FOR COACH FRANCHIONE
COLLEGE STATION, Texas—The Texas A&M University System Board of Regents voted to approve the separation and release agreement for former A&M head football coach Dennis Franchione and Fran, Inc. It is system policy that any contract which involves a stated or implied consideration of more than $300,000, or has a primary term longer than five years, must be approved by the Board of Regents.
The three-year agreement calls for payments of $141,667 per month or roughly $1.7 million for the first year beginning from the resignation date of Nov. 24, 2007. In year two, the monthly payment remains the same. The third year, the payment is $83,333 per month or approximately $1 million.
The payments in years two and three are subject to mitigation and the amount is based upon any compensation received through other employment as a coach or athletic director at a Division I school, any position in the NFL or as a national or regional sports commentator.
“I believe the agreement is fair and I would like to once again thank Coach Franchione for his work and efforts here at Texas A&M,” Texas A&M Director of Athletics Bill Byrne said. “We wish him and his family well in their future endeavors.”