Bret Bielema, set to be announced at a news conference today as Arkansas' new football coach, will be paid $3.2 million annually for six years, according to an offer letter from the university.
Click link to read it: Bret Bielema Offer Letter
The letter was signed Tuesday (Dec. 4) by Bielema and athletic director Jeff Long. Bielema's annual salary will include money from the university and the Razorback Foundation.
Bielema's initial term of employment is for six years, ending Dec. 31, 2018, according to the letter.
In addition to his annual salary, the 42-year-old Bielema, who joins Arkansas after serving as head coach at the University of Wisconsin, can earn up to $700,000 annually in performance incentives.
Those incentives include:
$350,000 for winning a national title;
$300,000 for appearing in the national championship game;
$100,000 for winning the SEC championship game; and
$200,000 for appearing in a semifinal playoff game beginning with the 2014 season.
Additionally, Bielema will receive at no cost: a skybox suite with 12 seats to all home games; 20 additional tickets for each home game; two loaned vehicles; and club membership to The Blessings and The Fayetteville Country Club.
If the university terminates his employment before Dec. 31, 2015, the Razorback Foundation or "other third-party guarantor" will be responsible for paying him $12 million. He would receive $9.6 million in 2016, $6.4 million in 2017 and $3.2 million in 2018.
If he terminates the employment, he would owe the university a high of $3 million through 2013 and a low of $500,000 in 2018.
The University of Arkansas will hold a news conference 4 p.m. Wednesday to introduce Bielema as the new head coach for the Razorbacks.
Viewers can watch it live on KXNW 34 and the live streaming page of our website: http://5newsonline.com/on-air/live-streaming/