Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

June 22-23, 2004 29224c. change his additional and outside compensation from non State appropriated unrestrictedprivate funds from the annualized rate of $8,600 to the annualized rate of $10,000;d. modify the current performance based incentive bonuses including a NationalChampionship bonus, and other performance bonuses; and,II.Authorize the President and Athletic Director with the assistance of the General Counselto execute a contract including such termsSampson, Kelvin, that the Board of Regents:I. Modify the employment agreement of Kelvin Sampson effective July 1, 2004, anda. extend the contract one (1) year to July 1, 2010;b. change his Base Salary from the annualized rate of $200,000 to the annualized rate of$210,000;c. change his additional and outside compensation from non State appropriated unrestrictedprivate funds from the annualized rate of $765,000 to the annualized rate of $800,000;d. continue the current performance based incentive bonuses including a NationalChampionship bonus, and other performance bonuses; and,II.Authorize the President and Athletic Director with the assistance of the General Counselto execute a contract including such termsGundy, Cale, that the Board of Regents:I. Modify the employment agreement of Cale Gundy effective March 1, 2004, anda. extend the contract one (1) year to March 1, 2005 with the option to extend annually;b. change his Base Salary from the annualized rate of $111,000 to the annualized rate of$140,000;c. change his additional and outside compensation from non State appropriated unrestrictedprivate funds from the annualized rate of $20,000 to the annualized rate of $10,000;d. continue the current performance based incentive bonuses including up to a two monthbase salary for a National Championship bonus, and other performance bonuses; and,II.Authorize the President and Athletic Director with the assistance of the General Counselto execute a contract including such termsLong, Chuck, that the Board of Regents:I. Modify the employment agreement of Chuck Long effective March 1, 2004, anda. extend the contract one (1) year to March 1, 2005 with the option to extend annually;b. change his Base Salary from the annualized rate of $141,000 to the annualized rate of$180,000;c. change his additional and outside compensation from non State appropriated unrestrictedprivate funds from the annualized rate of $25,000 to the annualized rate of $20,000;d. continue the current performance based incentive bonuses including up to a two monthbase salary for a National Championship bonus, and other performance bonuses; and,II.Authorize the President and Athletic Director with the assistance of the General Counselto execute a contract including such terms