"Lane Kiffin's contract with LSU includes the unique clause that he will receive a payment equal to the amount had he coached Ole Miss in the upcoming College Football Playoff, according to a term sheet obtained by ESPN on Monday. Kiffin, who agreed to a seven-year contract with LSU on Sunday that will pay him $13 million annually, will receive the same CFP bonus from LSU that he would have if he had remained with Ole Miss through the postseason."
"That begins at $150,000 for the Rebels' participation in a first-round CFP game, increases to $250,000 for participation in a quarterfinal and tops out at $1 million if Ole Miss wins the national championship. Kiffin had hoped to coach the Rebels (11-1) through their first CFP appearance, but Ole Miss opted for a clean break and promoted defensive coordinator Pete Golding to head coach Sunday."
"Kiffin will be owed the CFP bonus payments from LSU within 30 days after the Rebels' season ends, according to the term sheet, which Kiffin and LSU officials signed Saturday. Another notable clause calls for Kiffin to become the nation's highest-paid coach if LSU wins a national championship during his term as coach. The escalator would occur only once during Kiffin's term with LSU, on the date the team wins a national title."
Lane Kiffin agreed to a seven-year, $13 million-per-year contract with LSU that guarantees him the College Football Playoff bonus he would have earned coaching Ole Miss. The CFP bonus schedule begins at $150,000 for a first-round appearance, increases to $250,000 for a quarterfinal and pays $1 million for a national championship. Ole Miss promoted defensive coordinator Pete Golding and chose a clean break, preventing Kiffin from coaching the Rebels in the postseason. LSU must pay the CFP bonus within 30 days after the Rebels' season ends per the signed term sheet. An escalator would make Kiffin the nation's highest-paid coach if LSU wins a national title, applied once on the championship date. If fired without cause, Kiffin would be owed 80% of his remaining salary.
Read at ESPN.com
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