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Details of the deal: Term sheet info of Paul Weir’s Lobo contract

UNM and Paul Weir are still completing their employment contract, but the two have signed a term sheet for his hire as Lobo men’s basketball coach. The terms of that deal, as provided by UNM, are:

Length:

• 6 years (Tuesday — March 31, 2023)

Salary and compensation

(Base salary $300,000 plus other compensation that increases each year)
• 2017-18 season: $625,000
• 2018-19 season: $675,000
• 2019-20 season: $725,000
• 2020-21 and 2021-22 season: $775,000
• 2022-23 season: $825,000

“Incentive” payments

• Mountain West championship: $10,000
• Mountain West tournament championship: $10,000
• NCAA berth (if not because of No. 2): $10,000
• Mountain West Coach of the Year: $5,000
• NCAA Sweet 16: $25,000
• NCAA Elite Eight: $30,000
• NCAA Final Four: $40,000

Buyout (if Weir leaves, due within 60 days)

• Present through March 31, 2020: Weir would owe UNM $500,000
• April 1, 2020 through March 31, 2023: Weir would owe UNM $250,000

Buyout (if Weir fired)

UNM would owe Weir the rest of that contract year’s base salary of $300,000 plus a sum of $350,000 multiplied by the remaining years on the contract through 2022. The buyout in the final year of the contract (2022-23) is only the remaining base salary.

* Source: UNM term sheet provided upon request by Journal

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