Details of Bryan Hodgson’s contract with Arkansas State have been released to RedWolfReport.com after asking for the Memorandum of Understanding between Arkansas State University and Hodgson.
Hodgson has agreed to a 5-year term starting on March 22, 2023 and ending either on March 31, 2028 or the date of the final game of the 2027-28 season.
Hodgson will be paid a base salary of $385,000 per year, and will be reimbursed any reasonable moving expenses. He will also be provided temporary housing in Jonesboro for 60-days from March 22, 2022.
He will be provided a cellular telephone for business use pursuant to the Arkansas State University policy.
He will be provided either a vehicle to use or a vehicle stipend in the amount of $600 per month.
He will be entitled to a membership initiation fee and monthly membership fees to a country club located in Jonesboro, Arkansas and will be responsible for any expenses over and above the initiation fee and monthly membership fees.
He will be authorized to conduct basketball camps and clinics utilizing Arkansas State University athletic facilities and equipment, where he will be allowed to receive all revenue and paying all expenses.
He will execute a Personal Services Agreement with the Red Wolves Foundation and be authorized to conduct Radio and Television shows per that agreement.
Hodgson, his wife, and unmarried dependent children will be eligible for scholarship opportunities and tuition discounts as authorized by Arkansas State University System policy.
He will be authorized to hire assistant coaches with the approval of the Vice Chancellor for Intercollegiate Athletics and may recommend the hiring of other members of the basketball athletic staff.
He will be provided up to 10 tickets to each Arkansas State men’s home and way basketball games, including 6 tickets in premium seating areas within First National Bank Arena for use during Arkansas State men’s basketball games, in addition to being provided parking and credentials for guests during each men’s home game.
He will also receive 30 promotional tickets to each men’s home game for use to promote the Arkansas State men’s basketball program, in addition to a “reasonable” number of tickets to the Sun Belt Conference Men’s Basketball tournament as well as any other postseason tournament for games the Arkansas State men’s basketball team is participating in.
He will also be provided tickets and parking for his immediate family to each Arkansas State University home football game and credentials to access premium seating in Centennial Bank Stadium.
Hodgson’s buyout if he is to resign and terminate the agreement before the end of his contract is as follows:
Contract Year 1: $1,250,000
Contract Year 2: $750,000
Contract Year 3: $300,000
Contract Year 4: $200,000
Contract Year 5: $0
Any buyout must be paid to Arkansas State University within 45 days from date of termination.
If Arkansas State terminates the agreement the University will pay the unpaid and remainder of the contract term. Should the University elect to terminate the agreement during Contract Year 4, the University will pay the remaining amount owed for the contract term, subject to any new duty mitigating by finding other comparable employment.
Of that remaining amount, $200,000 of the obligation shall not be subject to any mitigation obligation should the termination take place in Contract Year 4. If the University elects to terminate the agreement in Contract Year 5, the University will pay the remaining amount owed under the contract. All liquidated damages will be paid quarterly over the remaining years of the agreement.
Should the University terminate the contract for cause the obligation to provide compensation shall cease immediately.
Hodgson will receive a $10,000 bonus for a regular season conference championship (to include sharing a co-championship) absent an appearance in the NCAA Tournament.
He will receive a $25,000 bonus if the basketball team wins a regular season conference championship (to include sharing a co-championship) and has an appearance in the NCAA Tournament.
He will receive a $20,000 bonus if the basketball team competes in the NCAA Tournament without winning a regular season conference championship.
He will receive a bonus of $25,000 for each win in the NCAA Tournament.
He will receive a $12,000 bonus if the team participates in the National Invitation Tournament (NIT).
He will receive a $5000 bonus for each win in the NIT Tournament.
He will receive a bonus of one-year’s salary if the basketball team participates in the NCAA Tournament and wins the NCAA Tournament.
He will receive a $10,000 bonus for being named Conference Coach of the Year (solo or shared).
He will receive a $25,000 bonus for being named National Coach of the Year (solo or shared).
He will receive a bonus of $5,000 if the basketball team is placed in the Top 25 of the Associated Press or ESPN Coaches Poll at any time during the season. He will only be eligible for this one time per season.
He will receive a bonus of $5,000 for each win over a basketball team ranked in the Top 25 of the Associated Press or ESPN Coaches Poll.
He will receive a bonus of $5,000 if the basketball team’s Final NET Adjusted ranking for a season is between 1-60.
He will receive a bonus of $5,000 if there are 3,000 or more season ticket packages sold for the basketball season.
He will receive a $5,000 bonus in each year that the basketball team’s Academic Performance Rate (APR) is at a level of 980 or above.
If in any year during the term of the agreement the APR of the basketball team is below 930 Hodgson may be disqualified from receiving bonus payments for the year at the discretion of the Vice Chancellor for Intercollegiate Athletics.
If in any year during the term of the agreement there are NCAA Level 1 or Level 2 violations resulting in disciplinary action, whether imposed by the NCAA or self-imposed, Hodgson will be disqualified from receiving bonus payments for that year.
All bonus payments will be made within 30-days of when the bonus is earned.
