South Dakota State promoted for assistant coach Eric Henderson to be the school’s head coach after T.J. Otzelberger was hired by UNLV. Henderson signed a five-year contract with South Dakota State.
Stadium obtained a copy of the signed contract via public records request.
His annual base salary is $275,000 but he’ll have the opportunity to earn supplemental compensation starting in the 2021-22 fiscal year:
- FY22: Minimum of $25,000
- FY23: Minimum of $25,000
- FY24: Minimum of $50,000
Henderson can earn the following performance-based incentives:
- 20+ wins in the regular season: $10,000
- Summer League regular season (co-)championship: $10,000
- Summer League tournament championship: $10,000
- NCAA Tournament game win (per win)
- Round of 32: $35,000
- Sweet 16: $40,000
- Elite Eight: $50,000
- Final Four: $100,000
- National Championship: $200,000
- National Coach of the Year: $10,000
- Summit League Coach of the Year: $5,000
- Regular season win against a team from the ACC/Big 12/Big Ten/SEC/Pac-12/AAC/Big East: $5,000
- Team’s single-year APR score exceeds the NCAA and Summit League 975 bonus minimum: $2,500
- Team GPA over 3.0: $2,500
Henderson will receive a membership to the Brookings Country Club, which has an approximate value of $1,775 per year, as well as a cell phone stipend.
If the university terminates his contract without cause, it will pay him the full amount of his base compensation for up to a period of one year or until the end of the contract term, whichever is sooner.
Henderson agrees to make a reasonable effort to secure similar employment elsewhere.
If Henderson chooses to terminate the contract, he’ll owe the university $275,000 within 60 days.