Mike Leach deal outlined in ‘letter of agreement’
PULLMAN – Mike Leach hasn’t officially signed a contract with Washington State, but the letter of agreement he entered into with athletic director Bill Moos in late November outlines what that contract will entail.
The letter (click on “Documents” at the top of this page to view), obtained by The Spokesman-Review through a public records request, “summarizes the terms of an offer and acceptance for the head football coach position” at Washington State and states they will be incorporated into a formal contract.
When that contract is signed, it will cover a five-year span, expiring at the end of December 2016. However, after two years, the contract rolls over into another five years and does so each ensuing year unless either party decides to stop the automatic extension.
If Leach is fired without cause, he receives 60 percent of the money remaining on the agreement.
As reported previously, Leach will receive a base salary of $2 million per year, with guaranteed supplemental income of $250,000 each year from product endorsement and media obligations.
There are also 10 incentives in the agreement, ranging from $200,000 for reaching the BCS title game to $25,000 for having the highest graduation rates for a Pac-12 public school.
Leach also will have access to one of WSU’s new 12-seat suites plus 20 other tickets, the use of two cars and a country club or health club membership.
The buyout in the agreement begins at $2.25 million, with it reducing by $450,000 each year until reaching zero in year five.