Dooley agreement details with Tennessee released

Dooley agreement details with Tennessee released

March 31st, 2010 by Wes Rucker in Local Regional News

KNOXVILLE - New football coach Derek Dooley and the University of Tennessee have backed their professional marriage with millions of dollars.

Dooley, UT interim president Jan Simek and men's athletic director Mike Hamilton in early March signed a memorandum of understanding that features severe financial penalties if either the coach or administration dissolves their agreement.

The six-year deal - which escalates from $1.8 to $2.3 million in total compensation, before bonuses - includes steep initial contract buyouts on each side.

If Dooley resigns between now and Feb. 15, 2012, he'd have to pay UT $4 million. That figure decreases from $3 million to $1 million to $750,000 to $500,000 during the deal's final four years.

UT must pay Dooley $5 million if it fires Dooley without cause between now and Feb. 15, 2013. That figure decreases to $4 million the next two years, and $2.5 million in the final year.

Regardless, UT must pay Louisiana Tech $500,000 in two equal payments by next summer, in accordance with Dooley's buyout from his previous employer.

The Vols' assistants coaches' memorandums of understanding were also released Wednesday, after a request from the Times Free Press.

Read Thursday's Times Free Press for more UT coverage.

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