MySanAntonio.com Texas coach Tom Herman set to receive 2-year contract extension

[HornSportsBot]

AUSTIN – The University of Texas system board of regents next week is set to approve a two-year contract extension for coach Tom Herman.

The new deal would run through 2023 and keep Herman’s guaranteed annual base salary at $3.5 million, according to the board of regents’ agenda book. But escalating guaranteed corporate payments to his limited liability company, 1-0 Culture LLC, would rise from $2.25 million in 2019 to $3.25 million in 2023, bringing his total salary in the deal's final season to $6.75 million:

• Corporate Payments to 1-0 Culture LLC:
  FY 2019: $2,250,000 
  FY 2020: $2,500,000 
  FY 2021: $2,750,000 
  FY 2022: $3,000,000 
  FY 2023: $3,250,000 

Herman's current contract was set to expire in 2021 and topped out at a $2.75 million base salary during the final year.

The amended deal also includes two retention payments of $1 million and includes a number of annual performance bonuses:

• Texas wins Big 12 Championship game: maximum of $100,000
• Texas wins the College Football Playoff Championship game: maximum of $250,000
• Named National Coach of the Year: $100,000
• Named Big 12 Coach of the Year: $50,000

Herman has compiled a 17-10 record (12-6 Big 12) over two seasons at Texas. The Longhorns defeated Missouri in the 2017 Texas Bowl and topped Georgia in last season’s Sugar Bowl. He has also put together consecutive top-three recruiting classes, per the 247Sports composite.

The board of regents will also approve amended contracts for wide receivers coach Corby Meekins and recruiting coordinator and cornerbacks coach Jason Washington.

Meekins will receive a one-year extension through March 31, 2020, at his current base salary of $290,000. Washington will also be extended through March 31, 2020, and his...

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