Mr. Holgorsen’s term sheet — which is not the finalized contract, but a functioning framework of one — was released by WVU Monday through Freedom of Information Act requests.
His six-year deal as the offensive coordinator in 2011 and the head coach the five years after that totals no less than $10.69 million just in total compensation (base and supplemental pay, plus six annual retention bonuses). He can earn $13.69 million if he maxes out the annual $600,000 cap on performance incentives as head coach.
There are also some neat provisions within the contract:
- Bumping his 2011 O.C. salary to the 2012 head coach salary if, for some reason, he becomes head coach in 2011.
- An immediate out if WVU loses 20 scholarships or has a two-year postseason ban because of the ongoing NCAA infractions case.
- A tiered buyout that stands at $2 million on or before Dec. 8, 2012, $1.5 million on or before Dec. 8, 2014 and then $1 million on Dec. 9, 2014.
- Standard university bonuses for assistant coaches as well as a three-percent raise every year except years after WVU plays in a bowl. Then it’s a five-percent raise.
- Four seats on the charter flights taking WVU to and from road games.
- The same set of incentices — with one exception — in Bill Stewart’s contract, but more lucrative rewards.
- The one exception? If Holgorsen’s offense is ranked No. 1 in the football bowl subdivision, he receives $50,000. If the offense ranks between Nos. 2 and 5, he receives $25,000.