April 14th, 2019 | by CollegeAD

Virginia men’s basketball coach Tony Bennett’s contract is scheduled to be extended one additional year May 1, per the terms of an amendment agreed upon by Bennett and the Rector and Visitors of the University of Virginia signed June 6, 2017. Bennett’s most recent employment agreement, agreed upon on in May 2015, stated his employment as lasting through April 30, 2021, with automatic one-year extensions on May 1, 2016, May 1, 2017 and May 1, 2018. The amendment added a one-year extension for May 1, 2019, adding a total of four years to the original terms if Bennett is at Virginia on that date. The amendment also, effective July 1, 2017, bumped Bennett’s annual base salary from $400,000 to $500,000 and his annual supplemental compensation from $1.7 million to $2.5 million. The terms of the amendment also called for Bennett to receive a longevity bonus of $1 million less withholding if he is still head coach of the team on March 15, 2023. His previous extension included longevity bonuses of the same figure for March 15, 2019 and March 15, 2021, both of which were included in the amendment. -Josh Needelman, dailyprogress. Read More.

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