Barta Gary Amended Contract 010116

8/20/2019 Barta Gary Amended Contract 010116

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The University

of

Iowa

Amendment to Contract

Director of Intercollegiate Athletics

This

Amendment to Contract between the University of Iowa ( University ) and Gary Barta ( Director'')

effective May 31, 2014

is

attached and incorporates by reference all

of

the terms and conditions

of

the

Contract- Director

of

Intercollegiate Athletics effective August 2 2006 and

as

amended by Amendment

to Contract effective November 18, 2009 ( Contract ) Pxcept those provisions specifically contained

herein.

The

Parties promise and agree as follows:

1. Deferred Compensation.

The

University agrees to modify the current deferred compensation plan which was outlined

in

Exhibit Bb-2 to

be

a Restricted Qualified Retirement Plan under a Qualified Governmental Excess

Benefit Agreement established in 2006 ( Qualified Plan )

as

follows:

The University will transfer the balance maintained in the Unfunded Deferred

Compensation account in Director's name which as of this date is

399,509.38,

plus the

accrued interest earned on th t balance since July 1 2013 which is

18,310.85,

in one

lump sum of $417,820.22 to Director as an additional payment for calendar year 2014.

Effectively immedi tely the agreement to maintain the Unfunded Deferred

Compensation Account for Director shall terminate.

Director shall immediately

use

the funds to first rnaxinize all contributions under

University

ot

Iowa sponsored retirement plans, and the balance will be contributed to

the Qualified Plan in his name.

The University agrees to

pay

the following payments to Director during the term of the

Contract and the Director shall use the payment to maximize all contributions under the

University of Iowa sponsored retirement plans and the balance will be contributed to

the Qualified Plan in his name, provided the Director is employed

by

the University.

The

payments will be paid on the first working day following July 1 in the following amounts:

July

1

2014

July

1

2015

July 1 2016

One Hundred Twenty Five Thousand Dollars

One

Hundred Thirty

Five

Thousand Dollars

One Hundred Thirty

Five

Thousand Dollars

All amounts in the Qualified Plan are vested according to the terms of the

Plan

and not

subject to forfeiture.


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All amounts

ultim tely

received

by

the Director from the Qualified Plan will

be

subject

to applicable tax laws and if appropriate will be taxed

as

taxable income subject to

applicable

withholding

and other payroll taxes.

The Director has consulted his own advisors relating to the change in plans and the tax

consequences relating to the change and is not relying on the advice of the University.

ll other terms and conditions

of

said Contract shall remain in full force and effect. I have read and

understand the terms contained in this Amendment to Contract and agree to abide by the terms and

conditions set

THE

UNIVERSITY

OF

IOWA

·

5dt;Jir

-;7. N

Sally Mason Date

President


5/26

THE

UNIVERSITY OF IOWA

AMENDMENT TO CONTRACT

DIRE TOR of INTERCOLLEGIATE ATHLETICS

THIS MENDMENT

T

CONTR CT between the University of Iowa

( University ) and Gary Barta ( Director ) effective November

/K

2009

is

attached to and incorporates by reference all of the terms and conditions of the

Contract-Director

of

Intercollegiate Athletics effective August

1

2006

( Contract ), except those provisions specifically contained herein.

The Parties promise ancf agree as follows:

1. EMPLOYMENT TERM

Paragraph 2

of

the Contract is amended to change the date

of

expiration

of the contract from July 31, 2011 to June 30, 2016.

2 SUPPLEMENTAL COMPENSATION

Paragraph 4 of the Contract is amended to provide changes in the

supplemental compensation starting September 2010 as set forth below. The

current supplemental compensati6n' schedule remains in effect until August 2010:

The Director will be eligible for supplemental compensation annually on or

about November 30, 20109, and annually thereafter, based upon the performance

in the following areas in the prior fiscal year, as determined by the President, in

consultation with the appropriate administrators:

a. Academic possible total

of

up

to $55,000, consisting of the

following:

- 1 -


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1)

Six-year graduation rate of all teams cumulatively equal to

or greater than general student body $10,000

2) Six-year graduation rate average of all terms cumulatively

equal to or greater than 70% $15,000

(3) All teams qualify based upon NCAA Academic

Performance Rating $15,000

4) Satisfactory progress toward goals established in NCAA

Certification Self Study Five-Year Plan and Merger Review

presidential recommendations* $15,000

b. Athletic-possible total up to $55,000, consisting o the following:

1) Top 40 rating in Director Cup rankings. $15,000

(2) Operations and Financial Stewardship, e.g., cost

containment, facilities stewardship, revenue

growth from operations and private giving,

no adverse audit findings $25,000

3) Exemplary compliance with NCAA, Big Ten and University

rules governing Athletics operations $15,000

c. Accomplishment o goals established each year by the President in

consultation with the Athletic Director* possible total

up

to $30,000

*

The Director and the President agree to meet at least once annually prior

to June 30, and at other times as mutually agreed upon to discuss

and define more specific expectations with respect to operations

and financial stewardship, satisfactory progress toward goals,

exemplary compliance, and the accomplishment of goals leading

to the possible award of Supplemental Compensation described

herein.

3 DEFERRED COMPENSATION

The University agrees to modify the current deferred compensation

account for the Director to allow for vesting and payment on January 1, 2010, as

outlined

in

Exhibit B-1 attached hereto,

and

to institute a new deferred

compensation plan, as outlined in Exhibit B-2.

- 2 -


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All other terms and conditions of said Contract shall remain in full force

nd

effect.

I

have read and understand the terms contained

in

this Amendment to

Contract. and agree to abide by the terms and conditions set forth.

I -

-09

Date

3

NIVERSITY OF IOW

Date


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Exhibit 8 1

UNIVERSITY OF IOWA

DIRECTOR OF THLETICS

urrent

Deferred Compensation Account

1. Pursuant to Paragraph 5 o the Contract ( Contract ) between the University of

Iowa ( University ) and the Director, to which this document is attached

as

Exhibit

B the University will maintain an unfunded deferred compensation account

( Account )

in

Director's name to reflect amounts credited pursuant to Paragraph

2 below

2.

The Account will be credited in the amount of (A) Seventy-Five Thousand Dollars

($75,000)

on

June 30, 2007; (B) Seventy-Five Thousand Dollars ($75,000) on

June 30, 2008; and (C) Seventy-Five Thousand Dollars ($75,000)

on

June 30

2009. Interest on the Account will accrue and be compounded annually at the

rate of 5%, beginning June

30

2008.

3.

The Director's entitlement to the Account:

A.

So long as the Director is employed by the University

on

January

1

2010,

the Director shall be entitled to the Account balance on that date.

B. The Director, or in the case of his death, his beneficiary designated

in

accordance with paragraph 5 below, shall be entitled to receive

an

amount

equal to the Account balance if his employment with the University as

Director o Athletics ceases due to his death, disability (as defined

in

Paragraph 6e of the Contract) or involuntary termination without cause (as

defined in Paragraph 7 of the Contract) prior to January 1 2010.

C. · The entire Account balance shall be forfeited i the Director voluntarily

terminates his employment as Director of Athletics or if the University

terminates the Director's employment as Director

o

Athletics for cause

as

defined in Section 6 o the Contract, prior to January 1 2010.

4. If the Director, or his beneficiary in the case of his death, becomes entitled

to the Account balance pursuant to paragraph 3 above, the Account balance will

be paid to him or his beneficiary, as the case may be,

in

the form of a single lump

sum payment, made not more than

90

days after the date

on

which the Director

(or his beneficiary) becomes entitled to the Account balance. The payment will

be

in

the form

o

a University check unless the Director or his beneficiary, as the

case may be, and the University mutually agree to an alternative form of

payment.


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5 The Director may designate one or more primary beneficiaries or alternative

beneficiaries to receive all or a specified part of his Account after his death,

and

the Director may change or revoke any such designation from time to time. If he

fails to designate a beneficiary, or revokes a beneficiary designation without

naming another beneficiary, or designates one or more beneficiaries none of

whom survives the Director, for all or any portion of his Account, such Account or

portion will be payable to the Director's surviving spouse or, i the Director

is

not

survived by a spouse, to the Director's estate.

6 All amounts ultimately received by the Director from the Account will be subject

to applicable tax laws and, if appropriate,

will be treated as taxable income

subject to applicable withholding and other payroll taxes. To the extent that the

University

is

required to withhold federal or state taxes

in

connection with any

benefit realized by the Director or any other person from this Account, it shall be

a condition to the receipt o such benefit that the Director or such other person

make arrangements satisfactory to the University for payment of all such taxes

required to be withheld, which arrangements may include delivery

o

a check

equal to the amount of such taxes. The Director acknowledges, understands and

agrees that amounts deferred hereunder may be subject to federal and/or state

withholding and agrees to any adjustments the University might make to meet its

withholding obligations under applicable

law

7 The benefit provided herein is intended to

an

unfunded, ineligible plan of deferred

compensation within the meaning o Section 457(f) o the Internal Revenue Code

of 1986, as amended (the Code ) and as a nonqualified plan of deferred

compensation under section 409A of the code, and it is intended that the benefit

is

subject to a substantial risk of forfeiture in accordance with Section 457(f) of

the Code. To the extent this Account fails to meet the requirements of Section

457(f), it is hereby amended to conform to such requirements. Contributions

are reflected through credits to the Account that are adjusted periodically

in

accordance with the terms of this Exhibit. The Director is entitled to receive, from

the general assets o the University, payments equal to the vested portion of the

Account, subject to the terms herein. Any right created under this Exhibit shall

8

be mere unsecured contractual rights of the Director against the University. All

amounts deferred herein and the Account are part of the general funds of the

University and shall be subject at all times to the claims of the general creditors

of the University, and the Director shall be a general creditor with regard to all

amounts deferred herein. The Director shall have no right

to

assign, alienate,

pledge, or encumber, either voluntarily or involuntarily, any conditional interest in

or future benefits anticipated under this Exhibit, and no creditor o the Director

shall have any right to claim the same.

All amounts ultimately received by the Director from the Account will be subject

to applicable tax laws and, if appropriate, will be treated as taxable income

subject to applicable withholding

and

other payroll taxes.


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9

In the event that a final determination is made by either the Internal Revenue

Service or a court of competent jurisdiction that the Account, or a portion of the

Account, is taxable in a t x period prior to that in which the Director (or his

beneficiary) becomes entitled under Section

3

above, then payment of the

Account

in

the amount determined to be taxable shall be due ninety

90)

days

after the University s receipt of notice of such final determination.

THE

UNIV RSITY

OF

IOW

Date

President


11/26

UNIVERSITY

OF

IOWA


ew

Deferred Compensation ccount

Exhibit B 2

1.

Pursuant to Paragraph 5 of the Contract ( Contract ) between the University of

Iowa ( University ) and the Director, to which this document is attached as Exhibit

B, the University will maintain an unfunded deferred compensation account

( Account ) in Director's name to reflect amounts credited pursuant to Paragraph

2 below

2. The Account will be credited in the amount of (A) Seventy Five Thousand Dollars

($75,000) on June 30,

201

O (8) Seventy Five Thousand Dollars ($75,000)

on

June

30,

2011; (C) One Hundred Thousand Dollars ($100,000)

on

June

30,

2012; (D) One Hundred Twenty Five Thousand Dollars ($125,000) on June 30,

2013; (E) One Hundred Twenty Five Thousand Dollars ($125,000) on June 30,

2014; (F) One Hundred Thirty Five Thousand Dollars ($135,000) on June 30,

2015; and (G) One Hundred Thirty Five Thousand Dollars ($135,000) on June

30, 2016. Interest on the Account will accrue and be compounded annually at

the rate of 5 , beginning June

30,

2010. ·

3. The Director's entitlement to the Account:

A. So long ·as the Director is employed by the University on June

30,

2016,

the Director shall be entitled to the· Account balance on that date, or upon

such later date that he and the University agree to extend his employment

and the payment to him of the Account balance.

Any.

election with the

consent of the University to extend the Director's employment and the

payment to him of the Account balance hereunder shall be made subject

to the following requirements:

(1) the new election may not take effect until at least twelve (12)

months after the date

on

which the new election is made; and

(2)

i

the new election relates to a payment for a

reas_on

other than

the death

or

disability of the Participant, the new election must provide for

the deferral o the first payment for a period

o

at least five (5) years from

the date such payment would otherwise have been made.

B. The Director,

or, in

the case

o

his death, his beneficiary designated in

accordance with paragraph 5 below, shall be entitled to receive

an

amount

equal to the Account balance if his employment with the University

as

Director o Athletics ceases due to his death, disability (as defined

in

Paragraph 6e

o

the Contract) or involuntary termination without cause (as


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defined

in

Paragraph 7 of the Contract) prior to June 30, 2016.

C

The entire Account balance shall be forfeited if the Director voluntarily

terminates his employment as Director of Athletics or if the University

terminates the Director's employment as Director o f Athletics for cause as

defined

in

Section 6 of the Contract, prior to June 30, 2016.

4

f the Director, or his beneficiary

in

the case of his death, becomes entitled

to the Account balance pursuant to paragraph 3 above, the Account balance will

be

paid to him or his beneficiary, as the case may be,

in

the form of a single lump

sum payment, made not more than

90

days after the date on which the Director

(or his beneficiary) becomes entitled to the Account balance. The payment will

be

in

the form of a University check unless the Director or his beneficiary,

as

the

case may be, and the University mutually agree to

an

alternative form of

payment.

5

The Director may designate one or more primary beneficiaries.or alternative

beneficiaries to receive all or a specified part of his Account after his death,

and

the Director may change or revoke any such designation from time to time. If he

fails to designate a beneficiary, or revokes a beneficiary designation without

naming another beneficiary, or designates one or more beneficiaries none of

whom survives the Director, for all or any portion of his Account, such Account or

portion will be payable to the Director's surviving spouse or, i f the Director

is

not

survived by a spouse, to the Director's estate.


to applicable tax laws and,

if

appropriate, will be treated as taxable income

subject to applicable withholding and other payroll taxes. To the extent that the

University

is

required to withhold federal or state taxes

in

connection with any

benefit realized by the Director or any other person from this Account, it shall be

a condition to the receipt of such benefit that the Director or such other person

make arrangements satisfactory to the University for payment of all such taxes

required to be withheld, which arrangements may include delivery of a check

equal to the amount of such taxes. The Director acknowledges, understands

and

agrees that amounts deferred hereunder may be subject to federal and/or state

withholding and agrees to any adjustments the University might make to meet

its

withholding obligations under applicable law.

7

The benefit provided herein is intended to an unfunded, ineligible plan of deferred

compensation within the meaning of Section 457(f) of the Internal Revenue Code

of 1986, as amended (the Code ) and as a nonqualified plan of deferred

compensation under section 409A of the code, and it is intended that the benefit

is subject to a substantial risk of forfeiture

in

accordance with Section 457(f) of

the Code. To the extent this Account fails to meet the requirements of Section

457(f), it is hereby amended to conform to such requirements. Contributions

are reflected through credits to the Account that are adjusted periodically

in


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accordance with the terms.of this Exhibit. The Director is entitled to receive, from

the general assets of the University, payments equal to the vested portion of the

Account, subject to the terms herein. Any right created under this Exhibit shall

be mere unsecured contractual rights of the Director against the University. All

amounts deferred herein and the Account are part o the general funds of the

University and shall be subject at all times to the claims o the general creditors

of the University, and the Director shall be a general creditor with regard to all

amounts deferred herein. The Director shall have no right to assign, alienate,

pledge,

or

encumber, either voluntarily or involuntarily, any conditional interest in

or future benefits anticipated under this Exhibit, and no creditor of the Director

shall have any right to claim the same.


to applicable tax laws and, if appropriate, will be treated as taxable income

subject to applicable withholding and other payroll taxes.

9 In the event that a final determination is made by either the Internal Revenue

Service or a court of competent jurisdiction that the Account, or a portion o f the

Account, is taxable in a tax period prior to that in which the Director (or his

beneficiary) becomes entitled under Section 3 above, then payment of the

Account in the amount determined to be taxable shall be due ninety (90) days

after the University s.receipt of notice of such final determination.

THE UNIVERSITY OF IOW

1 1 ~ 3

I

t t f ~ f

Date

Date

President


14/26

THE UNIVERSITY OF IOWA

CONTRACT

DIRECTOR

of

INTERCOLLEGIATE ATHLETICS

THIS CONTRACT hereinafter referred to as the Contract ), i s ' ' ~ ' '

betv 1een

the

University

of Iowa ( University ) and Gary

arta

( Director ) effective

August 1.

2006.

The Parties hereto prorrnse and agree as follows:

1. EMPLOYMENT.

Subject to the terms and conditions

of

this Contract, the University shall

the Director as the

Director

of Athletics for its Department of Ath The D

represents and

warrants

that he is fully qualified to serve, and is available for

employment, this capacity.

The Director is responsible

for

overall leadership of the University of Iowa

intercollegiate

letic programs.

These

duties are described rnore particularly in the

Director

ob

descr·iption

attached

hereto as Exhibit By executing this Contract

Director

acknowledges

responsibility for operating the progr-am

of

intercollegiate

athletics within the

policies

of the Board of Regents and the University,

in

accordance with the Constitution, By-Laws, rules, regulations and policies of the Big 10

Conference and the NCAA The Director further agrees to notify President of the

University prior to

discussing any

employment opportunities outside the University

or

outside the scope of this Contract.

2. TERM.

This Contract is

for

a fixed term appointment

commencing

on

1.

and terminating without further notice the Director on July 31. 11. with

possibility

of

and extension at the University's discretion after a 24-month

The terms of an extension, if any, shall mutually agreed upon

in

writing.


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Athletic Director

Page

3. BASE COMPENSATION

The Director shall receive

an

annual salary of Two Hundred Ninety Five

Thousand

Dollars(

295,000) as a full-time, 12-month appointment, and shall be

entitled to annual leave, sick leave and other benefits normally available to Un

employees in the Athletic Department. Salary will be paid on a monthly basis,

adjusted annually on a fiscal year basis dating from July 1 though June 30, based on

performance and overall University salary policies determined each fiscal year.

The University will provide two

(2)

automobiles and reasonable and appropriate

automobile insurance for exclusive use of t e Director and spouse. Personal usage is

subject to current IRS regulations.

The Director shall not receive compensation or benefits from any

without prior agreement

of

the University.

source

4.

SUPPLEMENTAL COMPENSATION

The Director will be eligible for supplemental compensation annually on or

November 30, 2007, and annually thereafter, based upon performance in the following

areas in the prior fiscal year, as determined by the President,

in

consultation with the

appropriate administrators:

a.

Academic-possible total

up

to 35,000, consisting of the following:

( 1) Six-year graduation rate of

all

teams cumulatively equal t

or greater than general student body

(2) Six-year graduation rate average

of

all teams cumulatively

,000

equal to or greater than 70% 10,000

(3)

(4)

All teams qualify based upon NCAA Academic

Performance Rating

Satisfactory progress toward goals established

in

NCAA Certification Self-Study Five-Year Plan and

Merger Review presidential recommendations*

10,000

10,000


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ontract

i\th ctic Director

b. Athletic-possible total up to $35,000, consisting of the following:

( 1)

(2)

3)

(4)

Top 40

rating

in

Director Cup rankings

Operations and Financial Stewardship. e.g., cost

containment, facilities stewardship, revenue

growth

from operations and private giving,

no

adverse audit findings*

Exemplary

compliance with NCAA, Big Ten

and University rules governing Athletics operations

Satisfactory progress toward goals established in

NCAA

Certification Self-Study Plan and

Merger

Review presidential recommendations*

c.

Accomplishment

of

goals established each year by the

President in consultation with the Athletic

$5.000

$15,000

$5,000

$10.

Director possible total up to $30,

*The Director and

the

President agree to meet at least once annually prior to June

and

at

other times as mutually agreed upon to discuss and define more specific

expectations with respect to ''operations and financial stewardship satisfactory

progress towards goals,'' exemplary compliance, and the ·'accomplishment of goals

leading to possible award

of

Supplemental Compensation herein.

5.

DEFERRED COMPENS TION

The University will establish a deferred compensation

account

for the Director,

as outlined in Exhibit B attached hereto. Annual contributions of Seventy-Five

Thousand Dollars

( 75,000)

will be

made

by University.

6.

TERMINATION FOR

CAUSE.

The University may terminate this contract for cause. Cause as

in this

Contract includes, but

is

not limited to the following:

a A ser ious or prolonged failure to perform the duties outlined in Exhibit A

b. Material violations by the Director of any of the other terms

or

conditions

this Contract.


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Contract Athletic Director

Pagi

4

c Program violations of NCAA or Big 1 Conference rules which result in

University being placed on probation by the NCAA; a finding of a lack of

institutional control; loss of grants

in

aid; loss

of

post-season play, or

loss

of revenue which the Director knew

or

should have known about with

reasonable diligence and

oversight

d.

Violation

of

any policy

of

the Regents or the University involving

dishonesty, moral turpitude or conflict

of

interest, or conviction under any

law involving dishonesty, moral turpitude or ict of or any

other personal conduct that impairs the Director s ability perform or

reflects adversely on the Director s fitness to serve

in that position

e

Substantial physical or mental incapacity to perform assigned duties.

Such physical or mental capacity shall be determined by the majority

of

a

panel

of

three physicians. One

(1)

such rnember shall be chosen by

the Univers one

(1)

by the Director, and a third physician shall be

chosen by e two (2) appointed by the pa

n

the event

of

a termination under this paragraph, the University s sole obligation

to the Director shall be payment of the base salary provided for herein to the date of

such termination. The University shall not be liable to the Director for any collateral

business opportunities or 0H1er benefits associated with the Director s position. Prior to

termination for cause, the University shall provide thirty (30) days written notice

of

the

cause asserted against the Director and a reasonable opportunity to respond.

In

the

event a termination for cause is ultimately overturned by a court of competent

jurisdiction, the liquidated damage provision in Paragraph 7 shall apply.

7

TERMINATION BY UNIVERSITY WITHOUT

CAUSE LIQUIDATED

DAMAGES.

This Contract may be terminated by President at any time without cause. In

such event, University shall pay to the Director as liquidated damages,

in

lieu

of

and

all other legal remedies or equitable relief, an amount equal to " 1 + 1 ~ 1 H + t - 1 - 1 - 1 - 1 · F H - 1 + 1 + H ' + H l . . . . . _

worth of his then Base Salary, as defined in Paragraph 3 above, rr nn•n


18/26

C \

mtrac

)

t(l r

Deferred

Compensation

Account in Exr1ibit

B,

portion

arnount

of the

15,000

deferred compensation

would have been

owed

in

the

year

of

termination (without

interest

for

that

year). as

date of tern1inat1on. The sum will not be red n the

Director s

subsequent employment

during the period covered

by

this Contract The

University not be Director for any supplemental compensation or a

collateral business opportunities or other benefits with the Director s

. The

have

bargained this liqu , g

consideration to the following

s

a

al

recogn

that

a

termination

of

this Contract

by

Un rsity prior to natural expiration

cause the D certain benefits, su ntal or

compensation relating

to

his

employment

at University, which

damages

are difficult

to

determine with certainty. Accordingly , the parties agree to this liquidated d

prov1s1on.

8. TERMINATION BY DIRECTOR LIQUIDATED DAMAGES

a

The Director may

terminate

this Contract without

cause upon

one hundred twenty

(120) days notice to the University. In the event of such termination, the U

obligation to the Director shall be payment of his compensation as provided in

Paragraph 3 above through the date of such termination, and he shall forfeit the

of his Deferred Compensation Account established in Exhibit B.

In the event the Director terminates this Contract under is provision and is

employed in any athletic-related position within the following twelve (12) rnonths,

shall

pay

to the Un as liquidated damages, m lieu

of any and

all legal

reJT1ed or equitable rel an amount equal to tvvelve 1 months' worth

Salary, as defined in ragraph above. The rgained for this

liquidated

damages

, giving consideration to the following: This is a

for personal services. that a voluntary

termination

Contract by the Director to its natural expira tion and re-employn1e in another

athletic-related position within twelve

1

months will cause the Un

to the


19/26

services of the Director and other certain benefits. dan1ages of which are difficult

determine with certainty. Accordingly. the parties agree this uidated

prov1s1on

9

INTERPRETATION

AND

APPLICABLE LAW.

This

agreement

is

made under

and shall interpreted according to the

the State

of

Iowa.

Any

rule to

the

effect that

an

agreement shall construed against

the pa1iy drafting shall

have

no application to this agreement.

f

any provision

agreement or the application thereof shall be held invalid or

rernaining provisions and their application shall not be affected thereby and shall

continue

fully effective enforceable.

10

OlSPUTE

RESOLUTION.

It is muttrnlly understood

th;=it

effort will m;:ide

intradepartmental and interpersonal conflicts

or

disag internally,

in a

spirit

goodwill among

those , using appropriate departmental and U

processes.

11.

MERGER.

This Contract constitutes the full and complete

agreement of

the

prior or subsequent written or oral understandings or representations pertaining to the

subject matter

of

this

Contract

shall be binding upon the parties unless

he

or set forth in the

parties

written amendment(s) to the Contract, executed

by

12. ATTORNEYS FEES.

In the

of

litigation between the parties involving

arising under

contract, the prevailing party shall entitled to an

of

from the other party.

* * *

* *


20/26

Contract thletic Director

I r ave read and u

conditions set

nd

the Contract and ree abide

THE UNIVERSITY OF IOWA


21/26

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Exhibit B

1

U

111versity

Exhibit 8,

( Accou

below.

2

Dollars

June

30,

UNIVERSITY OF IOW


Deferred Compensation ccount

Pu ragraph 5 of Contract

Iowa ( University ) and the Director, to which this

the University will maintain an unfunded

in

D s

name reflect amounts

on June

Account

balance

annually at

the

rate

of

, and cred

30 2008, and every June 30 during

The Directors entitlement to the Account:

is employed by

U

the entitled to nee on or

such later d that he and the University agree to extend his employment

the

payment

to him

of ccount

balance Any

University to

extend

the Director's en1ployment

ccount lance under shall be made

( 1) new election

may

not take

effect

until at

rnonths after the date on which the new

s

or disability

deferral of the

i

payment a

years from the date such

payment

would otherwise have

B

Director, or, in Hie case

of

his beneficiary

twelve (12)

in accordance Paragraph 5 below, shall be entitled an amount

equal to the ccou lance if his employment with the University as

Ath ceases due to (as defi

Contract) or

i

ntary termination without

cause

the prior to June 11


25/26

C nt

balance

shall

be

f the

voluntarily terrninates his employment as Director Athletics or if the

termi

the

Di

employment

for cause

as

in

Paragraph 6

Contract prior

. 2011

4.

If

the

Director,

or

his beneficiary

in

the

case

of

his

Account balance

rsuant

to Paragraph 3 above,

Account

to him

or

his neficiary, as case may . in the form a

payment,

made more than

ninety

(90)

days

d

on

which

the

his beneficiary) becomes entitled to

Account

balance.

The

form a Un un

a the Un agree to an alternative

5. Director may designate one or more primary beneficiaries or

alternative receive all or

a

specified rt of his

or

revoke any such designation

fails to

designate

a neficiary.

or

revokes a beneficiary

another beneficiary. or

designates

one or

more

rector. for all or

any

portion his Account.

Account or

the Director s surviving

or,

if the Director

s not survived

Director s estate

6.

All amounts ultimately by the

Director from

the

Account

be

subject

t

applicable

tax

laws and,

if

appropriate, will be as

taxable

subject to applicable

holding

and other I

University

is

requi to hold federal or state taxes in connection with

realized by the Director or any person from this I a condition to

receipt

of such benefit

that

the

Director or such

satisfactory

to

the University for payrnent

of

all such

which arrangements may include delivery of a check equal to the

amount

of such taxes.

The Director

acknowledges. understands

and

that

amounts deferred

hereunder

may

be subject to

federal and/or

withholding and agrees to

any

the

University might make to meet its withholding obligations under applicable

7.

The provided herein is intended to

compensation meaning of

ue

Code of 1986,

as

ame (the

'Code )

and as a plan of deferred

compensation

under Section 409A

of the Code. and it is intended

that

the benefit

is

subject to a

substantial

risk

of

forfeiture

in

accordance

with

Section 457(f)

of

the

the extent this

Account

ils to

meet

the

requirements

of Section 457(f),

it

is hereby

amended to conform to

such

requirements.

Contributions are

through cred

to the Account

that

are adjusted periodically in accordance with terms of this Exhibit

The Director is entitled to , from the general assets of University,

equal

to the vested portion of the Account.

subject

to the herein.

created

under

this

Exhibit

shall

be mere unsecured

contractual rights the Director

against

the

Un1vers amounts

deferred herein and

the

are part the

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of the University shall be subject

general creditors U and the

to all amounts deferred The no n

alienate. pledge. or

encumber

either voluntarily or involuntarily any conditlonal interest

in or future benefits anticipated under this Exhibit no creditor the

any right

to

the same.

Barta Gary Amended Contract 010116

Documents

Transcript of Barta Gary Amended Contract 010116