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LOU Tony Tokarz

This letter of understanding offers Tony Tokarz the position of quarterbacks coach at Florida State University. It outlines the basic terms of the two-year contract, including an annual salary of $300,000, various allowances, and liquidated damages clauses if the contract is terminated early. The LOU is effective for 90 days until a formal employment agreement can be finalized.

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686 views2 pages

LOU Tony Tokarz

This letter of understanding offers Tony Tokarz the position of quarterbacks coach at Florida State University. It outlines the basic terms of the two-year contract, including an annual salary of $300,000, various allowances, and liquidated damages clauses if the contract is terminated early. The LOU is effective for 90 days until a formal employment agreement can be finalized.

Uploaded by

Brendan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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DocuSign Envelope ID: B5996BFE-B694-4AF6-B07E-E8F6DE1CB9F5

To: Tony Tokarz


From: David Coburn, Vice President and Director of Athletics
Date: December 17, 2021
Re: Letter of Understanding

It is my great pleasure to offer you the position of Quarterbacks Coach at Florida State
University. This Letter of Understanding (“LOU”) sets forth below the Basic Terms of the
University’s employment offer, but it is understood that this LOU does not contain, and we
have yet to agree on, all material terms of your employment. We agree to work together to
finalize all material and other terms in a formal employment agreement between you and the
University as soon as practicable. The Basic Terms of our agreement are:

 Two-year contract term beginning on the day the LOU is executed by each
party (the “Effective Date”) and ending December 31, 2023. Contract Year
One shall begin on the Effective Date and end on December 31, 2022.
Contract Year Two shall begin on January 1, 2023 and end on December 31,
2023.
 Annualized compensation of $300,000 in each Contract Year. If coach
terminates his employment with the University:
o On or before December 31, 2022 for any reason, coach shall pay to
the University, as Liquidated Damages, an amount equal to 100% of
coach’s gross annual compensation, times the number of years and
any fraction thereof remaining in the contract term; or
o On or after January 1, 2023 for any reason, coach shall pay to the
University, as Liquidated Damages, an amount equal to 25% of
coach’s gross annual compensation, times the number of years and
any fraction thereof remaining in the contract term, unless coach
obtains (i) a head football coaching position at another university, (ii)
an offensive coordinator position with primary play-calling authority
at another university, or (iii) a coaching position with a professional
sports organization, in which case coach will owe the University no
Liquidated Damages.
 Nike Elite Allotment of $1000
 Monthly car allowance $650
 Cell Phone
DocuSign Envelope ID: B5996BFE-B694-4AF6-B07E-E8F6DE1CB9F5

 4 tickets for regular season football contests, 2 complimentary tickets to


other FSU regular season sporting events
 Coach will pay taxes on all applicable compensation, including but not limited
to annual compensation, allowances, and bonuses; complimentary tickets;
extra room at ACC/NCAA tournament games; ACC/NCAA gifts; athletic
department gifts
 Additional Employment Benefits
o Standard employee package provided to University employees in the
Administrative and Professional classification

This LOU is effective beginning on the Effective Date and ending 90 days after such Effective
Date or upon execution of a formal employment agreement between you and the University,
whichever occurs first. If a formal employment agreement is not executed by the parties within
90 days of the Effective Date, the terms stated herein shall expire and be of no effect; however,
the University may, at its option, continue to employ coach for his services on a month-to-
month basis at the applicable salary rate stated above (prorated monthly), with such
employment governed by the University’s Regulations and Policies that apply to Administrative
and Professional employees.

I, Tony Tokarz, understand and agree with the terms stated in this Letter of Understanding:

12/17/2021 | 10:27 AM EST 12/17/2021 | 10:29 AM EST


___________________________________ ___________________________________
Tony Tokarz Date David Coburn Date
Vice President and Director of Athletics

Cc: Ross Cobb, Senior Associate AD/CFO


Cindy Hartmann, Deputy AD for Administration

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