Auburn released the agreement letter with newly hired head coach Gus Malzahn earlier today explaining the basic terms of Malzahn's contract.
According to the letter, Malzahn will be paid $2.3 million annually and is eligible for academic and performance bonuses on an annual basis of up to $1.5 million.
The letter also states Auburn will pay the $700,000 buyout from his previous employment at Arkansas State.
Auburn will also pay Malzahn the base salary remaining if he is terminated without cause, but has no obligation to if terminated with cause.
The letter also states the formal contract must be signed by Jan. 15.
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