Purdue football coach Ryan Walters' contract details
A look at specifics obtained by GoldandBlack.com for Purdue coach Ryan Walters’ first contract, which was approved by the Board of Trustees on Friday.
• Purdue Board of Trustees approves contract for Ryan Walters
| SUMMARY OF TERMS: EMPLOYMENT AGREEMENT FOR COACH RYAN MARC WALTERS | |
| Beginning Date of Term (Effective Date of Agreement) | December 13, 2022 |
| End Date of Term | December 31, 2027 |
| Annual Base Salary (paid in 12 monthly installments) | Year 1: $4,000,000 Year 2: $4,050,000 Year 3: $4,100,000 Year 4: $4,150,000 Year 5: $4,200,000 |
Performance Bonus Base (“PBB”) | $1,500,000 |
Program Salary Pool | $5,500,000 for ten Assistant Coaches and one Head Strength Coach |
| Vehicle | One courtesy vehicle or vehicle allowance up to $15,000 annually |
| Apparel Allotment | $5,000 |
| Club Membership | Family membership in Lafayette Country Club |
| Relocation | $35,000 allowance and up to 30 days’ temporary lodging |
Academic Incentive Pay * | |
GSR equals or exceeds NCAA national rate | 6.0% of PBB |
Cumulative GPA** equals target range | 3.0% of PBB |
Cumulative GPA exceeds target range | 6.0% of PBB |
| * For the Academic Year ending June 30, 2023, Academic Incentive Pay will be paid at 50% of the stipulated rate. ** Cumulative Grade Point Average target range will be established annually. |
Athletic Performance Incentive Pay *** | |
| 1st Place Big Ten Division Finish | 6.0% of PBB |
| 2nd Place Big Ten Division Finish | 3.0% of PBB |
| Big Ten Championship Game Win | 10.0% of PBB |
| Post-Season Bowl Participation **** | |
| College Football Playoff | 25.0% of PBB |
| Rose Bowl | 20.0% of PBB |
| Orange/Other New Year’s Six Bowls | 18.0% of PBB |
| Citrus/Music City/Reliaquest | 12.0% of PBB |
| Pinstripe | 10.0% of PBB |
| Other Bowl Games | 7.5% of PBB |
| Personal Honors Incentive Pay | |
| Big Ten Coach of the Year | 5.0% of PBB |
| National Coach of the Year | 10.0% of PBB |
| Liquidated Damages for Early Termination by University (Payable in monthly installments over the remaining Term) | 75% of Annual Base Salary |
| Liquidated Damages for Early Termination by Employee (Payable within 45 days of Termination) | 12/14/2022 – 12/31/2024: $6,000,000 1/1/2025 – 12/31/2025: $5,000,000 1/1/2026 – 12/31/2027: $4,000,000 |
| *** The structure of Athletic Performance Pay will be adjusted in a mutually agreeable manner at the time of Conference and/or College Football Playoff expansion or reorganization. **** Employee must participate in the Bowl or Postseason game to earn Post-Season Bowl Participation Incentive Pay. |
