As 1st Reported Month's Ago By Spartan Nation: MSU AD Mark Hollis Rewarded with New Contract

Here is the information sent via John Lewandowski MSU SID. Michigan State University President Lou Anna K. Simon has negotiated a new contract with Athletics

Here is the information sent via John Lewandowski MSU SID.

Michigan State University President Lou Anna K. Simon has negotiated a new contract with Athletics Director Hollis. Below is a summary of the key changes that have been made to his contract.

·        The term of the contract has been converted from a fixed term contract expiring Dec. 31, 2016, to a rolling five-year contract that will renew every July 1.

• Increase in base salary to $600,000 effective Oct. 1, 2012. (This is an increase from his current base salary of $395,000.)

• Annual longevity payment of $100,000 (paid each July) contingent on Hollis’ continuous service as AD for the previous 12 months (This is a new payment.)

• Annual performance bonus of up to $50,000 for achievement of performance objectives, including compliance with NCAA and Big Ten rules, specific financial performance metrics, and fundraising objectives. (This is a decrease from his current annual performance bonus of up to $62,000.)

The remaining terms of his contract are unchanged.

Michigan State University President Lou Anna K. Simon:

“In his short time as Michigan State’s athletics director, Mark Hollis has time and time again proven to be a visionary leader, one not afraid to take risks for the betterment of his department and his university. From being named SportsBusiness Journal’s Athletic Director of the Year to his appointment to the NCAA Division I Men’s Basketball Committee, we’re pleased that his talents have been recognized on a national level. We are grateful for his dedication to MSU and look to have him as an integral part of Team MSU for years to come.”

Michigan State Athletics Director Mark Hollis:

“Continuity in coaching staffs has been a critical ingredient for the sustained success of many of our sports programs. Likewise, stability in the long-term strategic development for the department is equally vital for achieving that same level of success. While it’s important to celebrate our past innovation and championship success, we will continue to set our sights higher for our student-athletes, who represent 25 programs, and I firmly believe our best days are ahead.

“In Tom Izzo and Mark Dantonio, I have an opportunity to work alongside two of the nation’s marquee head coaches in their respective sports, but what makes Michigan State special is that I’m surrounded by talented coaches and administrators. This is a cohesive coaching and administrative staff, and I look forward to continuing to work with them. My desire is to be here for the long haul, not only because I’m an alum, but because I believe in these coaches and in their positive contributions to our student-athletes and community.

“Our recent success reflects the fact that everyone has been working together with the same goals in mind. This mindset must continue to either sustain our championship success or to reach even loftier goals. I truly believe that we’re on the verge of accomplishing some special things here, but we can’t do it alone. We need a combined effort from all of our stakeholders – coaches, administrators, alumni, donors and fans – for our program to reach new heights. All of us must continue to support our student-athletes daily in their quest for championships.

“I understand market compensation, but it must be weighed against the challenges we’re facing here on our campus. President Simon and I have been in constant communication in regards to compensation since last December. I deeply appreciate the confidence and trust President Simon, our Board of Trustees and other administrators have in me.”