MANHATTAN — Kansas State athletic director John Currie completed his contract by signing an incentive and retention clause that will grant him bonuses whenever the Wildcats' athletic teams accomplish certain high-level goals, the school announced today.
Whenever K-State coaches earn performance-based incentives outlined in their contracts, Currie will also receive a bonus — 75 percent of what the coach is to earn, to total no more than 25 percent of Currie's base salary — $350,000 this school year.
No bonus that Currie has direct or indirect control of, such as performance evaluations, will apply to the agreement.
One of his first bonuses could be for $18,750, which is 75 percent of the $25,000 bonus K-State basketball coach Frank Martin will receive if the Wildcats make the NCAA tournament this season.
The contract also includes a retention incentive payment to reward Currie if he completes a five year term as athletics director. In that case he would receive a single payment of $250,000. If Currie is fired before the contract ends, he will receive $50,000 for each contract year completed.
"Various head coaches earn bonuses based upon athletic-related accomplishments," K-State president Kirk Schulz said in a statement, "and I felt it was appropriate to reward the athletics director for his leadership.
"We designed this clause of the contract to reward the athletics director when K-State teams meet major goals such as Big 12 championships, football bowl appearances, post-season basketball tournaments and the like. The incentive component of the contract reflects the high expectations we have for our teams and athletics director.
Currie signed his initial contract May 18, and as part of this contract, Schulz and Currie were to agree upon appropriate incentives within 120 days. That was extended.