MSU negotiates new contract with AD Mark Hollis

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

[Read Tom Dienhart's Q&A with Mark Hollis]

• 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.)

According to a Michigan State release, the remaining terms of the contract are unchanged.