New Contract Details For Coach Chad Morris

FAYETTEVILLE (KFSM) -- Details are being released on the contract of new Razorback football coach Chad Morris.

The newly hired Head Hog signed a $21 million, six-year deal with the University of Arkansas that will pay out $3.5 million a year.

Morris' contract, which will run through Dec. 31, 2023, includes several other areas of compensation, including up to $1.2 million a year in incentives.

Also included are retention payments of $500,000  to be paid in 2019, 2021 and 2023 if no major NCAA violations have occurred.

A buyout schedule has also been released.

If Morris is fired by the university before his deal ends, he will receive 70 percent of the remaining amount on his contract.

In the event Morris leaves the University of Arkansas before his contract expires, he will be required to pay the university $3 million until Dec. 31, 2019. After that time, the amount would decrease by $500,000 annually until Jan. 1, 2023, at which time a buyout payment will expire.

Other contract details are likely to emerge.