Incentives Could Enhance Keatts' Contract

NC State head coach Kevin Keatts' base salary is $1,100,000, but his contract is laced with incentives for team performance and academics that will earn him even more money annually.

NC STATE CONTRACT: Kevin Keatts

NC State head coach Kevin Keatts' base salary is $1,100,000, but his contract is laced with incentives for team performance and academics that will earn him even more money annually.

NC State released the contract Friday afternoon and here is a closer look at the contract (linked above).

BASE SALARY 
$1,100,000 based on a 12-month employment period. The salary is in place for five years.

SUPPLEMENTAL COMPENSATION 
NC State shall approve payments to Keatts in the form of supplemental compensation in the amount of $1,100,000 for each year of the contract, contingent on fundraising, media appearances, and apparel demands.  The supplemental compensation will be paid in quarterly equal installments on June 30, September 30, December 31 and March 31 of each contract year... as long as coach Keatts is employed by NC State.

Team Performance Incentives/Compensation
In any contract year, coach Keatt's supplemental compensation shall increase by the following, and shall be included in supplemental compensation beginning with the immediately subsequent contract year and for each successive contract year: 


NCAA Tournament Appearance: $100,000
NCAA Round of Sixteen Appearance: $200,000
ACC Regular Season Championship (as No. 1 tourney seed) or ACC Tourney Champion: $300,000
NCAA Final Four Appearance: $400,000
NCAA Tournament Championship: $500,000

NOTE: The amounts are not cumulative within an individual contract year and may not be independently earned within an individual contract year, with the maximum amount of increase to supplemental compensation in a particular contract year to be based upon the highest level of achievement.

ACADEMIC PERFORMANCE INCENTIVES/COMPENSATION 
Federal Graduation Rate
Beginning with the FGR release in October 2019, Keatts will receive a bonus for the men's basketball single-year FGR in the amount that correlates with the FGR percentage below: 

Single Year FGR of 70%-79%: $25,000
Single Year FGR of 80%-89%: $50,000
Single Year FGR of 90%-99%: $75,000
Single Year FGR of 1000: $100,000


Any amount earned will be paid within 60 days of when the FGR is reported publicly.

NOTE: The bonuses are not cumulative.

Graduation Success Rate
Beginning with the GSR release in October 2019, Keatts will receive a bonus for the men's basketball four-year GSR in the amount that correlates with the FGR percentage below: 

Four Year GSR of 70%-79%: $25,000
Four Year GSR of 80%-89%: $50,000
Four Year GSR of 90%-99%: $75,000
Four Year GSR of 1000: $100,000


Any amount earned will be paid within 60 days of when the GSR is reported publicly.

NOTE: The bonuses are not cumulative.

Academic Progress Rate
Beginning with the APR release in June 2018, Keatts will receive a bonus for the men's basketball single-year APR in the amount that correlates with the FGR percentage below: 

Single Year APR of 970-979: $25,000
Single Year APR of 980-989: $50,000
Single Year APR of 990-999: $75,000
Single Year APR of 1000: $100,000


Any amount earned will be paid within 60 days of when the APR is reported publicly.

NOTE: The bonuses are not cumulative.

ADDITIONAL BONUSES
These bonuses cannot exceed $700,000 in a given year.

Top 25 Ranking In FINAL AP or Coaches Poll: $50,000
Top 10 Ranking In FINAL AP or Coaches Poll: $100,000
ACC Regular Season Championship (as No. 1 tourney seed): $100,000
ACC Tourney Champion: $100,000
NCAA First Four: $10,000
NCAA Round of 64: $25,000
NCAA Round of 32: $50,000
NCAA Round of 16: $100,000
NCAA Round of 8: $150,000
NCAA Final Four: $200,000
NCAA Title Game: $250,000
NCAA Champion: $400,000

NOTE: NCAA Bonuses are NOT cumulative... all must by paid by June 30.

MISCELLANEOUS
* Coach Keatts is entitled to 24 annual leave days per year.

*NC State will provide coach Keatts with one courtesy vehicle to use for the duration of the contract and one annual car stipend in the amount of $7,500. 

* Coach Keatts is entitled to one meal per day at Case Dining Hall during the academic year.

* Coach Keatts will be provided with a PNC Arena suite containing no fewer than 12 seats for home games; ten tickets to the ACC Tournament, reimbursement of the face value for six tickets to the Final Four, and eight tickets in the Dail Club Level for NC State home football games.

* Travel by spouse and dependents shall be provided by NC State pursuant to and consistent with the then current NC State travel policy, regulations, and rules.

* Coach Keatts will receive a parking permit and reserved parking space at the Dail Center. He will also be provided with a University Purchase Card for business expenses.


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