LITTLE ROCK — Arkansas Athletic Director Jeff Long has agreed to terms on a deal that would raise his annual salary to $750,000 before incentives and keep him under contract at the school through June 30, 2017.
The pending contract, offered by UA Chancellor Dave Gearhart, is subject to approval by the UA board of trustees and retroactive to July 1, 2012. Long signed a letter of agreement outlining the new compensation package Oct. 23.
Long’s base salary from the university will rise to $500,000, and he will earn an extra $250,000 from the Razorback Foundation as a personal services agree- ment. He is also set to receive a one-time bonus payment of $50,000 before the end of the year in recognition for what Gearhart described in the letter as “outstanding performance and the additional duties you are performing this year.”
The contract also calls for an increase in Long’s incentive package, based on athletic performance, graduation rates and his own good behavior that, if maximized, would yield an additional $250,000 and take his total compensation up to $1 million.
Additionally, beginning in 2013, Long can earn an extra $150,000 per year as an inducement if he is employed on the final day of his contract year (June 30). That longevity bonus would increase to $200,000 in the third year of the pending agreement.
Long would owe the university a $1 million buyout if he leaves before June 30, 2014, and the figure drops to $500,000 for the year after that, $250,000 for the 2015-2016 contract year, and $100,000 the following year. The university’s buyout agreement would be $1 million for each year remaining on the contract if he is dismissed for convenience.
Sports, Pages 19 on 11/17/2012