FAYETTEVILLE — New University of Arkansas Coach Sam Pittman has signed a five-year deal that will pay him $3 million per year with various incentive clauses and an interesting buyout structure.
Pittman, 58, signed the offer letter on Sunday, the day he agreed to become the 34th head coach at Arkansas and the fifth in 10 years.
Pittman can increase his salary based on stair-stepping win totals. His annual pay would increase by $250,000 if the Razorbacks win six games in a given year, $500,000 if they win seven games, and $750,000 if the Hogs win eight or more games.
UA Athletic Director Hunter Yurachek, who has been vocal about reining in exorbitant buyout packages, got language in Pittman’s contract that makes progress in that regard.
If the Razorbacks fire him for convenience during the five-year term, the UA would owe him 75% of his remaining annual pay as long as the team wins 50% or more of its games. If the Razorbacks win less than 50% of their games and Pittman is fired, the UA would owe him 50% of his remaining annual pay.
The contract includes a non-compete clause with other SEC teams and buyout language from Pittman’s side. Pittman would owe the UA $6 million if he left of his own accord between now and Dec. 1, 2021. That amount would be reduced to $3 million between Dec. 2, 2021 and Dec. 1, 2022, and drop down by half again, to $1.5 million from Dec. 2, 2022 through the end of the contract term.
The contract also includes a bonus structure based on bowl appearances, SEC and College Football Playoff championships or appearances and individual awards like SEC coach of the year. Pittman can receive up to two one-year extensions for leading the Razorbacks to bowl games.
Pittman will be introduced in a public reception today at 3 p.m. at the Walker Pavilion.