This Employment Agreement (“Agreement”) Is Entered Into

1427 WordsApr 25, 20176 Pages
This EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of April 26, 2017, between Jonathan Manziel (“Coach”) and Cleveland State University (“CSU”), collectively known as (“Parties”). RECITALS CSU is a public university located in Cleveland, Ohio. The Coach is a former collegiate and NFL football player. CSU desires to employ the Coach on the terms set forth herein as CSU’s first head coach for the 2017-2018 football season In consideration of the covenants and agreements contained in this Agreement, the Parties agree to the following: 1. EMPLOYMENT: CSU hereby engages Coach to serve as the head football coach for CSU’s football team for the duration of the Employment Term as outlined in Section 2 (“Term”), and Coach hereby…show more content…
Payment will be transferred by direct deposit to Coach’s checking account. Payment will be sent by CSU monthly, on the last Friday of each month. 2. CSU will have the exclusive option in determining whether to terminate or renew this Agreement. Written notice will be given to Coach no less than sixty (60) days before April 26, 2020. a. If renewed, Coach shall receive a base salary of at least one-million dollars ($1,000,000) for his fourth year. b. If Coach’s employment is not renewed, this Agreement shall be terminated. 3. If Coach or CSU has not terminated this Agreement, according to the written, sixty (60) day notice requirement, Coach’s employment will automatically continue for a fourth year. a. Coach shall receive a base salary of one-million dollars ($1,000,000). b. The contract will be renegotiated. B. Additional Compensation. During Coach’s employment at CSU, Coach will be entitled to additional compensation from the following three areas: (1) Fundraising, (2) Football Team Performance, and (3) Student Athlete Academics. 1. Fundraising. Fundraising include CSU fundraising events and ticket sales and broadcasting revenue. Fundraising does not include the Youth Football Summer Camp. a. Ticket and Broadcasting Revenue. CSU shall provide Coach with five percent (5%) of all revenue generated from ticket sales and broadcasting rights for games, practices, and scrimmages throughout Coach’s employment at CSU. After the completion of Coach’s third and
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