6 News received the term sheet in Mulkey's deal Wednesday with LSU via open records request.
Her new contract runs through the 2028-29 season and has an annual base salary of $400,000, before supplemental pay raises it to a $2.505 million starting point for the 2021-22 season:
- 2021-22: $2.505 million
- 2022-23: $2.58 million
- 2023-24: $2.655 million
- 2024-25: $2.76 million
- 2025-26: $2.805 million
- 2026-27: $3.107 million
- 2027-28: $3.187 million
- 2028-29: $3.362 million
Mulkey was reported to have made $2.27 million at Baylor. Her new deal will likely make her the highest-paid coach in women's college basketball.
Mulkey's new term sheet doesn't outline whether there is a limit for how much she is allowed to receive per season in incentive pay. Her incentives range from $10k-150k, depending on the accomplishment:
- SEC Coach of the Year: $10,000
- National Coach of the Year: $10,000
- SEC championships
- Regular Season champion: $65,000 AND
- Tournament championship: $35,000
- NCAA Tournament appearance
- 1st Round: $28,000 AND
- Round of 32: $30,000 AND
- Sweet 16: $33,000 AND
- Elite Eight: $38,000 AND
- Final Four: $50,000 AND
- National Championship Game: $75,000 AND
- National Championship: $150,000
- Top 25 finishes
- Final ranking 11-25: $25,000 OR
- Final ranking 1-10: $30,000
- Academic Incentives
- Multi-year academic progress rate in Top 10 percentile: $13,000
- Multi-year academic progress rate in Top 11-40 percentile: $9,000
In addition to her pay, the term sheet states additional privileges which are standard, including the university will provide her with a courtesy vehicle, if available. If LSU cannot provide one, it will pay her a vehicle allowance of $1,000 per month.
The school will also pay for her to move to Baton Rouge, up to $5,000 and for up to 90 days of temporary housing at a location selected by the athletic department.
It will provide her a cell phone and service, University Club membership (if she chooses), 16 women's basketball tickets per game and $80,000 per year in personal travel allowance.
Mulkey's buy-out if she is fired by the university without cause is $2.5 million until June 30, 2022. The term sheet states it drops to $2 million after July 1, 2023.
If Mulkey were to take another job, she would owe $2 million within 30 days of her termination date.
Mulkey coached at Baylor for 21 seasons, heading to Waco in April 2000 after 15 years as an assistant at her alma mater, Louisiana Tech.
The three-time national champion told her team Sunday she had accepted the same position at LSU and was introduced Monday.