William & Mary Coach Dane Fischer Signs Five-Year Contract: Salary, Buyout, Incentives

William & Mary hired Dane Fischer to replace Tony Shaver this offseason and Fischer agreed to a five-year contract through June 30, 2024, according to a signed offer letter Stadium obtained via public record request.

Fischer’s base salary is $225,000 annually with a guaranteed annual increase based on the team’s conference record from its last season.

If William & Mary has a conference winning percentage of .500 or worse, his guaranteed raise will be three percent of his base salary. Conference tournament play isn’t included in the winning percentage.

If the team has a winning record in conference play, his annual raise will be five percent.

Fischer will receive an annual retention bonus of $25,000 that will be paid on July 1 of each year.

He’ll receive $25,000 annually on March 1 for media rights/participation, as well as $25,000 more on March 1 for fundraising/community outreach participation.

That means Fischer will receive $300,000 annually between his base salary, retention bonus, media rights/participation and fundraising/community outreach, prior to his guaranteed raise and any earned bonuses.

Fischer will have the ability to earn performance-based incentives, which are outlined below.

  • $5,000 – William & Mary wins 20 games in a season.
  • $5,000 – William & Mary beats an opponent ranked in the AP Top 25.
  • $10,000 – William & Mary wins 25 games in a season.
  • $5,000 – William & Mary wins the CAA regular season championship.
  • $1,000 – William & Mary wins a second round game in the CAA Tournament.
  • $1,000 – William & Mary wins a third round game in the CAA Tournament.
  • $5,000 – William & Mary earns an NIT bid.
  • $1,000 – For every win in the NIT.
  • $10,000 – William & Mary wins the CAA Tournament/earns automatic NCAA Tournament bid.
  • $10,000 – For the first time William & Mary receives an at-large bid to the NCAA Tournament.
  • $5,000 – William & Mary wins an NCAA Tournament game in the First Four.
  • $5,000 – William & Mary wins a first round game in the NCAA Tournament.
  • $10,000 – William & Mary wins a second round game in the NCAA Tournament.
  • $15,000 – William & Mary wins an NCAA Tournament game in the Sweet 16.
  • $25,000 – William & Mary wins an NCAA Tournament game in the Elite Eight.
  • $50,000 – William & Mary wins an NCAA Tournament game in the Final Four.
  • $100,000 – William & Mary wins the national championship.
  • $2,500 – Fischer is named conference coach of the year.
  • $10,000 – Fischer is named Naismith Coach of the Year.

NIT-related bonuses are cumulative. NCAA Tournament-related bonuses are not cumulative.

Fischer will also receive a lump-sum payment of $20,000 on July 1, 2019 for moving expenses.

His assistant coach salary pool is $240,000 annually with assistant coaches receiving one-year contracts.

William & Mary’s assistant coaches will receive the following performance-based incentives:

  • $5,000 – If William & Mary wins the CAA regular season championship.
  • $10,000 – If William & Mary wins the CAA Tournament.
  • $5,000 – If William & Mary wins a game in the First Four.
  • $5,000 – If William & Mary wins an NCAA Tournament game in the first round.
  • $10,000 – If William & Mary wins an NCAA Tournament game in the second round.
  • $15,000 – If William & Mary wins an NCAA Tournament game in the Sweet 16.
  • $25,000 – If William & Mary wins an NCAA Tournament game in the Elite Eight.

 

If Fischer leaves William & Mary before the end of his contract, his buyout is the following:

  • $900,000 – Year 1
  • $750,000 – Year 2
  • $500,000 – Year 3
  • $300,000 – Year 4

 

If William & Mary terminates Fischer’s contract before it’s over, he’ll receive all compensation that he agreed to in his contract. However, he will have a duty to mitigate the university’s compensation by finding other employment.

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