Skip Holtz signed a five-year, $9.1 million contract Thursday afternoon to become the second coach in the history of the USF football program.
Holtz will earn $1.7 million annually in the first two seasons of the contract, $1.8 million in 2012, $1.9 million in 2013, and $2 million in the final year in 2014. Holtz's base salary each season is $500,000.
The former East Carolina coach also has a $1 million buyout clause in effect for the first two years of the contract.
Holtz is scheduled to make $400,000 less than former USF coach Jim Leavitt was scheduled to make over the final five years of a seven-year, $12.6 million extension signed in 2008. Holtz, however, has more money to pay his assistants: a pool of $1.55 million in 2010, $1.65 million in 2011, and $1.75 million in 2011.
In the final two years of the contract, Holtz is granted the ability to renegotiate the salary pool for his assistants.
Finally, here are the performance-based bonus clauses:
Winning BCS National Championship: $250,000
Participating in BCS title game: $200,000
Winning Big East BCS berth: $100,000
Selected for BCS at-large bid: $75,000
Selected for non-BCS bowl bid: $25,000
Winning Big East Coach of the Year $50,000
Final Top 10 ranking: $50,000
(in either AP or USA Today/Coaches' Poll final poll of year)
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