New AD Scott Woodward signs six-year, $8.9M contract with LSU
BATON ROUGE - LSU's newly hired athletics director, Scott Woodward, is slated to make more than a million dollars a year over his next six years at the school.
Last week, Woodward signed the six-year contract with the university, paying out $1.1 million in his first year and gradually increasing to $1.5 million in the agreement's final year. The contract also includes a damages payment of $50,000 to Woodward's former employer, Texas A&M.
Also packed into the contract were a $250,000 relocation signing bonus and two retention bonuses, the first worth $250,000 and a second worth $500,000. Woodward will earn those two bonuses if he remains at the university through April 30, 2024 and April 30, 2025 respectively.
LSU may terminate his contract at any time but will have to pay out the remainder of Woodward's salary if it does so. Woodward will have to pay the university the remaining base salary, which amounts to $525,000 each year, and other compensation if he opts to terminate the agreement.
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