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Penn State athletic director Pat Kraft has received a contract extension that runs through June 30, 2032, and will pay him an average of $2.26 million per year over the next eight years, the school announced Monday.
Kraft, who was entering Year 3 of a five-year deal, will have the opportunity for a performance-based bonus of up to $350,000 annually if he reaches specific goals, including "for academic and competitive excellence," according to the school.
The extension was approved by the Penn State board of trustees and its Committee on Equity and Human Resources.