After working under a memorandum of understanding since he was hired to replace Phil Fulmer as Tennessee’s head coach in December, Lane Kiffin has finally signed an official contract with the school.
According to the Knoxville News Sentinel, were no significant changes from the memo of understanding to the signed contract.
The biggest tweak, it appears, is the inclusion of secondary recruiting violations that UT was hit with after Kiffin was hired and stipulations related to them.,
The contract will pay Kiffin an average of $2.4 million over the life of the six-year deal; his base salary for the 2009 season is $350,000.
Kiffin has decreasing buyouts built into the contract. The buyout for the 2009 and 2010 season is $7.5 million; $6.25 million for the 2011 and 2012 season; and $5 million for 2013 and 2014.
According to the Associated Press, “Kiffin must inform Tennessee athletics director Mike Hamilton if he is interested in any other college or professional coaching job or is approached about another job. He will owe the university between $200,000 and $1 million should he take another job.”