Tennessee makes Tim Banks hire official

Tennessee has announced the hiring of Tim Banks as their defensive coordinator.

Banks is receiving a three year contract that will pay him 1.3 million the first year, 1.4 million in year two and 1.5 million in year three.

If Tennessee were to terminate Banks without cause then would be owed his monthly salary times the number of months remaining on their contract. There is mitigation or an off-set if a fired coach finds another job.

If Banks leaves for another job on his own then said coach would owe 50% of his monthly salary times number of months left on his contract if he left for another SEC school. It’s 25% of his salary if he left for a college job outside of the SEC or the NFL.

Here is a break down of the bonus structure for the assistants.

A maximum of one of the following

Bowl game 8.33%

New Years 6/CFP access game 12%

College football playoff semifinal 16%

A maximum of one of the following:

Appearing in the SEC Championship game 2%

Winning the SEC Championship game 4%

A maximum of one of the following:

Appearing in the CFP National Title game 2%

Winning the National Title 4%