Former Texas athletic director Steve Patterson will receive approximately $3 million in guaranteed money over the next two academic cycles as part of his final severance agreement with school officials.
According to a document released by UT, Patterson is owed $1.478 million for the 2015-16 school year. He is also scheduled to receive $1.515 million for the 2016-17 academic cycle. If Patterson lands another job during that time, UT will deduct whatever he made from its required total.
Also in the agreement, Patterson agreed to a stipulation that he cannot sue the university. He also agrees to help in the case of any Big 12 or NCAA inquiry into rules violations. The university is currently conducting an ongoing investigation into possible academic misconduct within its men’s basketball program that happened years ago.
Both sides also agree that neither party will make “comments, statements, or other communications that would reasonably be understood to impair the good will, business reputation, or good name of the other party to this agreement.”
Patterson and UT President Gregory L. Fenves both signed the document in late October.
For a larger version of the final agreement, click here.
News on Bevo Beat is free and unlimited. Access to the rest of Hookem.com is included with an Austin American-Statesman subscription in addition to Statesman.com and the ePaper edition. Subscribe today at statesman.com/subscribe.