If he were to be fired within the first four years, Collins would receive 100 percent of the remaining value of the deal. After that, he would receive $2.4 million for each remaining season. For example, if he were dismissed at the end of the fifth season with two years left, he would receive $4.8 million.
The offer letter also spells out Collins’ obligation to Tech to give the school prior notice before seeking, considering or applying for another job. If he were to leave, he would owe Tech a buyout through his fifth season, starting at $4 million in 2019, $3 million in 2020, $2 million in 2021 and 2022 and $1 million in 2023. The letter also stipulates that Tech will pay all of Collins’ $2.5 million buyout to Temple.
Collins would earn an additional $1.275 million if he were to hit all of his incentives in one season. The bonuses include $150,000 for winning eight or more regular-season games, $150,000 for winning the ACC championship, $50,000 for being named national coach of the year and $700,000 for winning the national championship.
Most of the clauses are similar to those in Johnson’s contract, although some payouts are greater in Johnson’s contract and others greater in Collins’.
Collins’ incentive for winning eight regular-season games is $150,000, for example, where it was $100,000 in Johnson’s. Collins’ contract has a $100,000 incentive for making it to the ACC title game, where Johnson’s contract had no such provision. Winning the ACC, though, would have meant a $200,000 bonus for Johnson, but a mere $150,000 for Collins. Winning a national championship was worth $250,000 in Johnson’s contract.