Kiffin on Saturday signed a memorandum of understanding with UT for an incentive-laden, five-year contract with an average base salary of $2.375 million per season.
That base is far from his financial ceiling, though.
He will earn an additional $40,000 for a non-BCS bowl game appearance;
$40,000 for splitting an SEC Eastern Division championship;
$50,000 for being SEC coach of the year; $50,000 for being national coach of the year;
$80,000 for playing in the SEC championship game;
$120,000 for winning the SEC championship;
$120,000 for a BCS bowl appearance;
$160,000 for a BCS championship game appearance;
$160,000 for a No. 1 ranking in the final Associated Press or USA Today poll;
$280,000 for winning the BCS championship game.
The memorandum stated that Kiffin would also be eligible for a $40,000 annual bonus for his team finishing with an NCAA Academic Progress Report score higher than 925.
Kiffin would owe UT $1 million if he left next season, and that figure decreases by $200,000 every year, according to the memorandum.
UT would owe him $7.5 million if it terminated his contract during the next two seasons. That figure decreases to $6.25 million in 2011 and $5 million in 2013.