Florida A&M first-year head coach Alex Wood has agreed to terms on a three-year contract, according to the Tallahassee Democrat.
Wood, who was hired by FAMU in December, agreed to a deal worth $200,000 including incentives, the newspaper reported.
For example, if Wood achieves a winning season in his first year, he’ll receive an extra $10,000 per year. If he achieves a nine-win season at any point during his deal, an extra year will be added on.
He’ll also receive a $20,000 bonus to distribute among the coaching staff if FAMU reports a single-year APR above 950. He also has access to either a courtesy car or an extra $850 per month.
Wood replaces Earl Holmes, who was fired by the university last October after compiling a 6-16 record over two seasons.