COLUMBUS, OHIO (AP) - The resignation of football coach Jim Tressel on Monday means Ohio State does not have to pay him another penny of his estimated $3.5 million annual salary.
According to the contract, which runs through the 2014 season, Tressel “shall not be entitled to receive any further compensation or benefits under this agreement” if he resigns.
Ohio State spokesman Jim Lynch said Monday that he was unaware of whether a buyout or severance package was part of Tressel’s resignation, which was negotiated on Sunday night.
Even though not contractually compelled to, Ohio State could still offer Tressel money to leave the job.
Athletic director Gene Smith did not immediately respond when asked about the terms of the resignation.
An addendum to the contract does provide for Tressel to resign and to continue to be employed by Ohio State.
The paragraph, added to the contract in 2010, permits Tressel, if he resigns for any reason, to become an associate athletic director at a salary of $150,000 per year. Section 5.3f does stipulate that Ohio State can void that portion of the agreement.
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Rusty Miller can be reached at https://twitter.com/rustymillerap
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