In April 2024, FAMU Trustees approved a one year employment contract for Crarey, that agreement is set to expire on June 30.
This recommendation underscores the university’s confidence in Crarey's leadership and the positive trajectory of the men's basketball program under his guidance.
As part of the contract extension, Crarey would receive a one-time lump sum retention bonus of $30,000, payable on or before September 1, 2025. However, if Crarey voluntarily terminates his employment agreement before July 1, 2026, he must repay the bonus within 60 days.
In addition to the retention bonus, Crarey's annual salary will see an incremental increase over the extension period. Starting from his current salary of $150,000, Crarey will receive an additional $10,000 per year. This means his salary will increase to $160,000 by June 30, 2026, and further increase to $170,000 annually starting July 1, 2026.
The contract also includes an array of incentives for being named SWAC Coach of the Year, winning a conference championship and others.
The contract extension must be approved by the Board of Trustees and is on their February 12th agenda.