Kiffin officially signs six-year, $14.5M contract with Tennessee

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KNOXVILLE, Tenn. (AP) -- Tennessee coach Lane Kiffin, who had been working under a memo of understanding, has signed a six-year, $14.25 million contract.

As agreed to when he was hired in November, Kiffin will earn $2 million in 2009, which includes pay for broadcasting responsibilities and endorsements.

His salary will gradually increase each season, topping out $2.75 million for the 2014 season.

Should Kiffin be fired without cause, he will receive a buyout between $5 million and $7.5 million.

Kiffin must inform Tennessee athletics director Mike Hamilton if he is interested in any other college or professional coaching job or is approached about another position. He will owe the university between $200,000 and $1 million should he take another job.

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