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 that 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 immediately 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

One Hundred Twenty Five Thousand Dollars

July 1, 2015

One Hundred Thirty Five Thousand Dollars

July 1 2016

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.

All amounts ultimately 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.
All 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
1

conditions set fort~

THE UNIVERSITY OF IOWA

,5dt;Jir-Sally Mason
President

-;7., IN
Date

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 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-

b.

c.

(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

Athletic-possible total up to $55,000, consisting of 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,
$25,000
no adverse audit findings

(3)

Exemplary compliance with NCAA, Big Ten and University

rules governing Athletics operations
$15,000

Accomplishment of 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-

All 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 forth.

NIVERSITY OF IOWA

I(-

,-09

Date

Date

-3-

Exhibit 8-1
UNIVERSITY OF IOWA

DIRECTOR OF ATHLETICS
Current Deferred Compensation Account

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, 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:

4.

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 of 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 if the Director voluntarily

terminates his employment as Director of Athletics or if the University
terminates the Director's employment as Director of Athletics for cause as
defined in Section 6 of the Contract, prior to January 1, 2010.

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 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, if 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 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
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 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 of the Director
shall have any right to claim the same.

8.

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.

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 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 IOWA

Date
President

Exhibit B-2
UNIVERSITY OF IOWA
DIRECTOR OF ATHLETICS
New Deferred Compensation Account

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) if 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 of the first payment for a period of at least five (5) years from
the date such payment would otherwise have been made.

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 of 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 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 of Athletics for cause as
defined in Section 6 of the Contract, prior to June 30, 2016.

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 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, if 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 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

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 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 of the Director
shall have any right to claim the same.
8.

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.

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 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 IOWA

11~

I/ /ttf~f

, .. 03

Date

Date
President

THE UNIVERSITY OF IOWA

CONTRACT
DIRECTOR of INTERCOLLEGIATE ATHLETICS
THIS CONTRACT, (hereinafter referred to as the "Contract"), is'"""'~"'"'
betv,1een the University of Iowa ("University") and Gary Barta ("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 Job description attached hereto as Exhibit A

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

and terminating without further notice

possibility of

the Director on July 31.

1.

11. with

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

The terms of an extension, if any, shall

mutually agreed upon in writing.

- Athletic Director
Page 2

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 t11e Director and spouse. Personal usage is
subject to current IRS regulations.
The Director shall not receive compensation or benefits from any

source

without prior agreement of the University.

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 to

or greater than general student body

,000

(2)

Six-year graduation rate average of all teams cumulatively

equal to or greater than 70%
$10,000

(3)

All teams qualify based upon NCAA Academic

Performance Rating

$10,000

Satisfactory progress toward goals established in

NCAA Certification Self-Study Five-Year Plan and
Merger Review presidential recommendations*

$10,000

(4)

Contract

b.

i\th!ctic Director

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

( 1)

Top 40 rating in Director Cup rankings

(2)

Operations and Financial Stewardship. e.g., cost

containment, facilities stewardship, revenue
growth from operations and private giving,
no adverse audit findings*

(3)
(4)

c.

$5.000

$15,000

Exemplary compliance with NCAA, Big Ten

and University rules governing Athletics operations

$5,000

Satisfactory progress toward goals established in NCAA

Certification Self-Study
Plan and Merger
Review presidential recommendations*

$10.

Accomplishment of goals established each year by the

President in consultation with the Athletic
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 COMPENSATION
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 serious 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.

Contract
Pagi: 4

c.

Athletic Director

Program violations of NCAA or Big 10 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

other personal conduct that impairs the Director's ability

or any
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
the Univers
chosen by

physicians. One (1) such rnember shall be chosen by

one (1) by the Director, and a third physician shall be

e two (2) appointed by the pa

Jn 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+1~1H+t-1-1-1-1FH-1+1+H'+!Hl....._

worth of his then Base Salary, as defined in Paragraph 3 above,

rr.nnn

t(l r

C \mtrac!
)

Deferred Compensation Account

in Exr1ibit B,

arnount of the $15,000 deferred compensation

portion

would have been owed in the year of termination (without interest for that year). as
date of tern1inat1on. The

sum will not be red

1n the

Director's subsequent employment during the period covered by this Contract The
11 not be

University

Director for any supplemental compensation or a

collateral business opportunities or other benefits

. The

have bargained

consideration to the following

recogn

with the Director's

this liqu

,g

1s a

al

that a termination of this Contract by Un

cause the D1

rsity prior to

certain benefits, su

natural expiration

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.

TERMINATION BY DIRECTOR; LIQUIDATED DAMAGES

8.

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

reJT1ed

or equitable rel

Salary, as defined in
liquidated damages

as liquidated damages, m lieu of any and all

an amount equal to tvvelve (1
ragraph 3 above.

months' worth

The

rgained for this

, giving consideration to the following: This is a

that a voluntary termination

for personal services.

Contract by the Director

legal

to its natural expiration and re-employn1e

athletic-related position within twelve (1

months will cause the Un

in another
to

the

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
fully effective

continue

10

enforceable.

OlSPUTE RESOLUTION.
It

is

muttrnlly

understood

th;=it

effort

will

intradepartmental and interpersonal conflicts or disag

goodwill among those

m;:ide

internally, in a spirit

, 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

or set forth in the

he

written amendment(s) to the Contract, executed by

parties

12.

ATTORNEYS' FEES.
In the

of litigation between the parties involving

contract, the prevailing party shall

entitled to an

from the other party.

* * * * *

of

arising under

Contract
7

Athletic Director

I r1ave read and u

nd the Contract and

ree

abide

conditions set

THE UNIVERSITY OF IOWA

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Exhibit B
UNIVERSITY OF IOWA

DIRECTOR OF ATHLETICS
Deferred Compensation Account
1.
U111versity

Pu
ragraph 5 of
Contract
Iowa ("University") and the Director, to which this
Exhibit 8, the University will maintain an unfunded
("Accou
in D
s name
reflect amounts
below.

2.
Dollars
June 30,
on June
Account balance annually at the rate of
, and cred
during
30 2008, and every June 30
The Directors entitlement to the Account:
is employed by
U
entitled to
nee on
or
such later d
that he and the University agree to extend his employment
the payment to him of
Account balance Any
University to extend the Director's en1ployment
Account
lance
under shall be made

11 , the

( 1)
new election may not take effect until at
1s
rnonths after the date on which the new

twelve (12)

or disability
deferral of the fi
payment
a
years from the date such payment would otherwise have
B.
Director, or, in Hie case of his
beneficiary
in accordance
Paragraph 5 below, shall be entitled
an amount
equal to the Accou
lance if his employment with the University as
ceases due to
(as defi
Ath
ntary termination without cause
Contract) or i
the
prior to June
11

C
nt balance shall be
!f the
voluntarily terrninates his employment as Director
Athletics or if the
the Di
employment for cause as
in Paragraph 6
termi
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.
alternative

Director may designate one or more primary beneficiaries or

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 1s not survived
Director's estate

6.
All amounts ultimately
by the Director from the Account
be
as taxable
subject to applicable tax laws and, if appropriate, will be
subject to applicable
holding and other
I
to
hold federal or state taxes in connection with
University is requi
person from this
I
a condition to
realized by the Director or any
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
terms of this Exhibit
to the Account that are adjusted periodically in accordance with
The Director is entitled to
, from the general assets of
University,
equal to the vested portion of the Account. subject to the
herein.
the Director
created under this Exhibit shall be mere unsecured contractual rights
against the Un1vers
amounts deferred herein and the
are part
the

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
II
any right to
the same.