Davis signs contract

Almost a year after being named head coach for the men's basketball team, Mike Davis signed a formal four-year contract Friday. The terms of the contract include an annual salary of $225,000 beginning July 1. His annual income will reach about $500,000 a year with outside income and bonuses tallied up. This contract is binding until May 2005.\nDavis had been coaching with a memorandum of understanding signed last March. Under the memorandum Davis was given a $175,000 salary, totalling $450,000 with outside income. Under his new contract, he will earn $225,000 a year. In addition to his base salary, the new contract also includes added bonuses and compensations depending on the basketball team's performance in the regular and post season.