Photo credit: Charlotte Athletics

The Charlotte 49ers and Director of Athletics, Mike Hill, agreed to terms with Tim Albin on Saturday, December 7th, and we now have access to the Memorandum of Understanding (MOU).

Terms: December 8, 2024 through December 21, 2029 (5 year agreement

Annual Base Salary: $500,000

Supplemental Pay via Athletics Foundation: $400,000 through December 7, 207, increasing to $500,000 through December 31, 2029.

Automobile: $750/month and a credit card for fuel.

Club Membership: One-time initiation fee of $25,000 (max), and all basic monthly, annual, or other basic dues ($6,000 annual max).

Moving Expenses: One-time stipend of $30,000 for reasonable relocation expenses, temporary housing and related expenses for up to 90 days

Technology: $60 per month for cell phone, and a university owned laptop computer selected by coach.

Tickets: 10 premium football tickets with hospitality, 6 football tickets to away games, 6 premium mens basketball tickets in lower level, 6 women's basketball tickets, as well as 10 premium conference championship game tickets and 20 bowl tickets. University will provide reasonable travel costs for Coach's wife and children to all football road and postseason contests.

Staff pool:

• Coaching Staff: $1,805,000/year (up to 10 Assistant Coaches + Head Strength Coach), increased to $1,925,000/year beginning January 1, 2028
• Support Staff (w/benefits): $507,000/year (incl. two full-time strength positions)
• Support Staff (w/o benefits): $124,500/year
• Graduate Assistants (two in-state, two out-of-state, w/o benefits): $88,000/year

The University will increase the Coaching Staff salary pool by $25,000 each Contract Year through the end of the Term and agrees that all salary pools will be reviewed on an annual basis with the goal of remaining competitive within the conference.

Termination by University without cause: University’s sole financial obligation will be to pay Coach the then-current Base Salary multiplied by the number of full or partial Contract Years remaining in the Term, and, if applicable, any incentive compensation earned but not paid as of the effective date of termination. If Coach obtains new football-related employment at any institution of higher education that is a member of the NCAA or any professional team participating in any professional league or conference in the United States or elsewhere, or as a television or radio analyst or broadcaster, University’s financial obligation will be reduced by the total compensation received by Coach in Coach’s new position over the remaining Term on a dollar-for-dollar basis.

Termination by Coach prior to Contract Expiration: Coach will pay University or arrange to have paid to University an amount equal to:

(i) $1,910,000 if Coach terminates the Agreement prior to December 31, 2025,

(ii) $1,440,000 if Coach terminates the Agreement prior to December 31, 2026,

(ii) $970,000 if Coach terminates the Agreement prior to December 31, 2027,

(iv) $500,000 if Coach terminates the Agreement prior to December 31, 2028, or

(v) $0.00 if Coach terminates the Agreement prior to December 31, 2029. Such amount shall be due within 120 days following the date of termination. If applicable, Coach will receive any Base Salary and Supplemental Pay earned but not yet paid, but will forfeit any unpaid incentive compensation. Coach agrees to provide at least twenty-four (24) hours’ oral notice to the Director of Athletics prior to engaging in any substantive discussions or negotiations for employment with another institution.

Academic Incentive:

Each year the multi-year Academic Progress Rate (APR) for the football team (calculated in the fall of each year on a four-year rolling basis and released in February of the following year) is 960 or higher, University will pay Coach supplemental compensation of $25,000, such payment to be made in a lump sum within sixty (60) days of the end of the University’s spring academic semester. In the event during the Term APR is no longer calculated by the NCAA, then in such event the “at large Bowl selection” incentive shall be increased by $25,000.

Athletic Incentives:

Coach will be rewarded for successful competition during regular season play as follows:

i. Final Top 25 AP $75,000
ii. CFP Ranking Each win over a Power 4 Team $25,000

In any year that the football team participates in a postseason game or playoff, Coach will receive supplemental compensation as follows:

i. Conference Championship Game Appearance $ 50,000
ii. Conference Championship Game Win $ 50,000
iii. At-Large Bowl Selection $ 75,000
iv. College Football Playoff (CFP) Selection $ 250,000
v. New Year’s Six Bowl Selection as top Group of 5 representative (non-CFP) $ 100,000
vi. Each CFP Round advanced an additional $ 250,000
vii. CFP National Championship Appearance $ 1,000,000
viii. National Championship Win $ 1,500,000
ix. Conference Coach of the Year $ 25,000
x. National Coach of the Year $ 50,000
(iv) and (vi) above are cumulative if (vii) is not achieved. If (vii) and/or (viii) above are achieved then the CFP bonuses shall be non-cumulative.

Supplemental compensation payable to Coach for athletic incentives will be paid within sixty (60) days of the end of the final game of the season for the football team (including any postseason games). Each bonus shall be deemed fully earned upon achievement.