Penn State released full contract details for football coach Bill O’Brien on Monday night, when the university launched an openness website designed to answer key questions in wake of the Jerry Sandusky scandal.
O’Brien, 42, signed a five-year contract worth about $2.3 million last month, which included a base salary of $950,000, $1 million each year for radio and TV and $350,000 each year from Nike — plus a maximum of $200,000 in incentives.
Starting July 1, 2013 and each successive year of employment that follows, O’Brien will receive base salary increases of 5 percent.
At the end of the fourth year, Penn State will review O’Brien’s performance and both sides can come to terms on an additional one, two or three-year extension. Penn State also can also opt not to renew his contract.
If Penn State wins the Leaders Division title of the Big Ten Conference, O’Brien earns 5 percent ($47,500) of his base salary. A Big Ten championship earns O’Brien 8 percent ($76,000) of his base salary. If Penn State makes a bowl, he earns 11 percent ($104,500) of his base salary, and he earns 9 ($85,500) percent of his base salary for winning the BCS Championship Game.
There, however, are not any incentives based on the team’s academic performance.
If O’Brien resigns before his contract expires, he would need to pay a buyout of his base salary and additional compensation multiplied by the number years remaining on his contract.
O’Brien was hired Jan. 6, 40 days after acting athletic director Dave Joyner announced a six-person search committee tasked with finding a permanent successor for Joe Paterno.
O’Brien returned to State College on a full-time basis Feb. 7 after previously serving as the New England Patriots offensive coordinator through Super Bowl XLVI.
