Michigan Coach Juwan Howard Agrees to Five-Year Contract: Salary, Buyout

New Michigan Coach Juwan Howard agreed to a five-year contract with the university worth $11.2 million in total annualized compensation, according to a signed memorandum of understanding obtained by Stadium, dated May 22, 2019.

Howard’s annual base salary is $400,000 but he’ll earn $2 million in total annualized compensation for the 2019-2020 season.

His total annualized compensation will increase in each of the next four years of the contract as outlined below:

  • 2019-20: $2 million
  • 2020-21: $2.1 million
  • 2021-22: $2.2 million
  • 2022-23: $2.4 million
  • 2023-24: $2.5 million

 

Howard will also participate in Michigan’s athletic department postseason bonus plan, which will allow him to earn additional incentives.

Both parties – the University of Michigan and Howard – agreed to a buyout in the case that either side terminates the contract early.

If Michigan fires Howard without cause, it’ll owe him the following:

  • May 22, 2019 – April 30, 2020: $5 million
  • May 1, 2020 – April 30, 2021: $4 million
  • May 1, 2021 – April 30, 2022: $3 million
  • May 1, 2022 – April 30, 2023: $2 million
  • May 1, 2023 – April 30, 2024: $1 million

 

If Howard leaves Michigan for “other basketball related employment” prior to the end of his contract, he’ll owe the university the following:

  • May 22, 2019 – April 30, 2020: $2.5 million
  • May 1, 2020 – April 30, 2021: $2 million
  • May 1, 2021 – April 30, 2022: $1.5 million
  • May 1, 2022 – April 30, 2023: $1 million
  • May 1, 2023 – April 30, 2024: $500,000

 

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