Posted by admin on July 21, 2017
year contract extension for Athletic Director Mike Bohn DENVER The University of Colorado regents on Wednesday unanimously approved a five year contract extension for Athletic Director Mike Bohn and added a new bonus structure that will allow him to earn up to 54 percent more in incentive pay. His base salary of $297,000 will remain the same, but he is eligible to earn up to $154,000 in annual performance bonuses. In the past, Bohn's been able to earn up to $100,000 in performance incentives, but a new revenue based bonus structure will allow him to earn an additional $6,000 to $54,000 if he meets specific goals for season ticket sales, raising donations and drawing corporate sponsorships. CU spokesman Bronson Hilliard said the university can't reveal the specific goals tied to the revenue based bonus because they were ironed out between Chancellor Phil DiStefano and Bohn as part of the "supervisor j&s nike shoes employee" relationship and are thus confidential. Bohn said the ticket sales goal will be set each year, and this year's number hasn't been determined. He set a personal goal in March of selling 25,000 football season tickets for 2011. "We are inspired by the continued support of our leadership to include the Board of Regents, the president and the chancellor for us to continue making progress and building a program that matches the academic standing of our institution," Bohn said of his contract extension. "We recognize we have work to be done and the importance of continuity and taking advantage of the momentum we are experiencing." CU spokesman Ken McConnellogue said Bohn will also be eligible for a newly approved salary pool that will award raises up to 3 percent and is based on merit. The regents in April decided to use a portion of tuition revenue to help fund that salary pool. The agreement that the regents approved also says that if the university terminates the contract without cause before it expires, Bohn may claim damages up to $350,000 per year for the remainder of the contract. Regents Michael Carrigan, D Denver, and Tillie Bishop, R Grand Junction, on Wednesday both praised Bohn, athletic director since 2005, for his leadership as CU has transitioned from the Big 12 to the Pac 12. "Mike has done an outstanding job as athletic director and he has restored a level of enthusiasm nike 3 on 3 and dedication to customer relations in the department," Carrigan said. Bohn's new contract runs through June 30, 2016. The resolution the board voted on says the regents believe a "multi year employment agreement is necessary to retain Bohn in the position of Athletic Director in light of the prevailing market conditions and competitive employment agreement practices nationwide for athletic directors." Bohn was one of the lowest paid athletic directors in the Big 12, but his annual salary ranks in the middle of the Pac 12. "While I think Mike, like many other employees, deserves a raise, in times like these, we've got limited resources," Carrigan said. The new bonus structure makes Bohn eligible up to $100,000 in performance based categories, such as complying with NCAA rules and Title IX legislation, ensuring that student athletes succeed and have good graduation rates, and enhancing the department's community involvement. Of that, $20,000 is earned for successfully managing the department's budget, including sponsorships, donations to the athletic programs and increasing ticket sales. Now, a second tier will allow Bohn to earn another $54,000 in "revenue based" bonuses if he meets specific goals set by himself and DiStefano when it comes to selling season tickets for football, as well as men's and women's basketball. Suite and club seat sales, as well as donations to the department, also will determine whether he earns that bonus. Hilliard said the revenue based incentives are different than the $20,000 business incentive because they have specific revenue targets. "The $20,000 incentive is more nike shoes khaki about meeting a standard that ensures the general fiscal health and integrity of the athletic department overall," Hilliard said. For example, he said, that could include keeping the accounting books up to date and making sure the department's budget for equipment and travel are managed effectively and are on target. The contract also allows a $600 monthly car allowance, $7,200 country club membership and $3,500 in Nike sports apparel. He is allowed 10 season tickets for each CU home game.