The contract is done, the deal remains the same.
Having worked more than 15 months under the terms of a Memorandum of Understanding, Tennessee men's basketball coach Cuonzo Martin is now working with a contract.
The 22-page contract, released by the university on Monday, includes the same collective salary of $1.3 million laid out in Martin's original MOU.
Martin said Monday that he signed the four-year contract that runs through the 2015-16 season on June 27. He said the "biggest delay" was the extenuating circumstances surrounding his hiring. Athletic director Mike Hamilton, who hired Martin in March 2011, was replaced by current AD Dave Hart before the beginning of Tennessee's 2011-12 season.
"It wasn't the case where I had a month in August or September (of 2011) to say let's hammer this thing down," Martin said. "I was just constantly going and going. Then Dave, out of respect for our program, allowed me to go through a season (on the MOU)."
Martin's $1.3 million annual contract includes a $325,000 base salary, $425,000 for broadcast responsibilities, $325,000 for shoe and apparel contracts, and $325,000 for endorsements.
Picked to finish 11th in the SEC with a depleted roster and the surrounding fog of an NCAA scandal, Martin led the Vols to a 19-15 record and a third-place tie in the SEC as UT's first-year coach. The midseason coup of adding five-star recruit Jarnell Stokes made national headlines.
Martin is represented by Indianapolis-based agent Andrew "Buddy" Baker, a former classmate of his at Purdue.
Martin left Missouri State for Tennessee following the 2010-11 season. He was one year into a five-year contract paying a base of $140,000 per season (total package worth $300,000 per year) before the Vols came calling.
According to Martin's contract, Tennessee paid $200,000 to buyout his Missouri State contract.
It won't be that cheap if another school wants to poach him again.
Martin's UT deal stipulates a $2.6 million buyout if he accepts an outside job offer before March 31, 2014, and a $1.3 million buyout over the final two years of the deal.
If Martin is fired by Tennessee without cause, he'll receive 60 percent of his full $1.3 million salary ($780,000) in each remaining year of the deal.
If Martin is fired with cause, he receives nothing.
Martin's contract also includes access to two loaned vehicles, $25,000 in moving costs, complimentary tickets to men's and women's basketball as well as four skybox tickets for football home games in addition to six season tickets, a $2 million life insurance policy and performance bonuses.
Similarly to his salary structure, Martin's bonus package went unchanged in the transition from MOU to contract. Incentives include both on-the-court performance, such as $50,000 for an NCAA tournament berth and $100,000 for winning the SEC regular-season title, and academic bonuses, such as $50,000 if the team scores 930 or higher in its Academic Progress Rate and $25,000 for a team cumulative GPA over 2.75.
Three SEC men's basketball coaches — LSU's Johnny Jones ($1.1 million), Mississippi State's Rick Ray ($1 million) and Texas A&M's Billy Kennedy ($1 million) — earn less than Martin's $1.3 million annual salary.
Including his three seasons as Missouri State coach, Martin has a career record of 80-63.
Brendan F. Quinn covers Tennessee men's basketball. Follow him at http://twitter.com/BFQuinn