His combined salary and fees grows from $2 million in the first year to $3 million by the fifth.
“I am very happy that this new contract will allow me to finish my coaching career here at UConn,” Calhoun said in a statement. “This is a tremendous show of recognition and support from Jeff Hathaway and (President) Michael Hogan. The University continues to allow me and my staff to pursue a national championship with the same backing as other top level programs across the country.”
Calhoun will receive a base salary of $325,000 for the 2009-10 academic year and that base salary amount will increase $25,000 each year of the agreement.
In addition to the base salary, he will receive $1,675,000 in year one of the agreement for institutional speaking engagements and media-related appearances for a total of $2 million. These combined figures will total $2.3 million for 2010-11, $2.7 million for 2011-12 and $3 million for 2012-13 and 2013-14.
“Jim and I both have high expectations for our basketball student-athletes to achieve in the classroom, succeed on the court and be outstanding representatives in the community,” UConn Director of Athletics Jeffrey Hathaway said.
Calhoun is also eligible for additional compensation for services and performance in the post-season, for participation in the NCAA Tournament and should he be named Big East and/or National Coach of the Year.
Calhoun also receives an annual car allowance of $15,000.
The contract also includes a provision should Calhoun resign or retire from the head coaching position at UConn, he would receive either a one-time payment of $1 million or secure employment in a full-time position in the University Division of Athletics for up to five years, earning an annual salary of $300,000.
The school points out that no state tax dollars or tuition dollars were used to provide any of the resources for this contract.
The funding comes from Division of Athletics revenue from gate receipts, private fund-raising, corporate partnerships, television/radio rights, BIG EAST Conference revenues and NCAA revenues.
All basketball camps or clinics camps Calhoun runs are owned and operated by him.