LUBBOCK, TX (KCBD) - Texas Tech Defensive Coordinator David Gibbs will be making $550,000 a year under his new contract, with bonuses in place if the Red Raiders can make it to a bowl game, the playoffs or a national championship.
A bowl game is worth an extra month's salary, a playoff game is worth two month's and a national title would pay Gibbs three month's salary.
The details were released by the Vice Chancellor's office on Tuesday.
The contract runs from Jan. 5, 2015 to Jan. 4, 2017 and may be extended for a short time if the Red Raiders are involved in a postseason game.
The contract also includes some very specific penalties. If Gibbs takes another defensive coordinator job within the Big 12, he'll owe Tech a $200,000 buyout. If the job is outside the Big 12, the buyout is only $25,000.
No buyout is required if Gibbs takes a head coaching job or any position with the NFL.