After 15 months working under a Memorandum of Understanding with Tennessee, men's basketball coach Cuonzo Martin has agreed to terms of an official contract with the Vols.
The contract, released by the university on Monday, pays identical financial terms to the deal Martin originally signed with UT on March 27, 2011 after he left Missouri State to come to Knoxville.
Martin's deal pays out $1.3 million annually and runs through the 2015-16 season. The second-year UT coach earns a $325,000 base salary, $425,000 for broadcast responsibilities, $325,000 for shoe and apparel contracts, and $325,000 for endorsements.
Numerous incentives include $100,000 for winning the SEC regular-season title and $50,0000 for an NCAA tournament berth. Like the salary, the deal's incentives remain unchanged from those in the MOU.
If Martin jumps ship during the next two seasons, he'll owe the university $2.6 million. If he accepts an outside job offer over the final two years of the deal, that number drops to $1.3 million.
Martin led the Vols to a 19-15 record and a 10-6 mark in the SEC in his first season with the Vols.
More details later online and in Tuesday's News Sentinel.