Here is the contract extension Dave Richman and the university signed this week. Pretty simple and it’s an amendment to Dave’s original contract signed in 2014. His current deal had one year remaining. The salary of $230,000 is still light in the terms of overall Division I men’s basketball but still not a bad chunk of change.
AMENDMENT NO. 1
TO THE HEAD COACH CONTRACT
BETWEEN NORTH DAKOTA STATE UNIVERSITY
AND DAVID RICHMAN
This Amendment No. 1 is dated as of May 30, 2019 (“Amendment”) and amends the Head Coach Contract by and between North Dakota State University (“NDSU” or “University‘‘) and David Richman (“Coach”), dated as of July 1, 2014 (the “Agreement”).
WHEREAS, NDSU and Coach entered into the Agreement; and
WHEREAS, the parties desire to amend the terms of the Agreement;
NOW THEREFORE, the Agreement is hereby amended as follows:
- 1. The annual salary identified in Section 2.1 of the Agreement shall be $230,000.
- 2. The following performance bonuses detailed in Section 2.2 are amended or inserted
- a. Summit League regular season championship (solo or shared) – $5,000. Twenty (20) wins in the regular season – $15,000.
Twenty-five (25) wins in the regular season – $20,000; in the event of the team reaching twenty-five wins, however, there shall be no bonus compensation for reaching twenty wins – the maximum bonus compensation related to win total is $20,000.
- Section 3.0 of the Agreement shall be amended as follows:
The term of this Agreement shall extend to April 30, 2022.
- Upon execution of this Amendment, Coach shall report to the Deputy Director of
Athletics. The Deputy Director of Athletics shall conduct the periodic evaluations detailed in Section 4.0 and shall provide Coach with directives, input, and advice as necessary.
- By signing this Amendment, Coach and NDSU acknowledge that, as of the date of this
Amendment, they are not aware of any claims or causes of action, or potential claims or causes of action, of any type, under any local, state, or federal law(s) arising from Coach’s employment with the University.
- 6. In all other respects, the Agreement remains the same.