BUFFALO, N.Y. (WIVB) — Newly-hired University at Buffalo men’s basketball coach George Halcovage III will receive total annual compensation of $425,000 in his first season, with $10,000 annual increases over the course of his five-year contract, according to a contract term sheet provided by the university to News 4 Buffalo on Tuesday.

Halcovage’s annual base salary will be $325,000, with an additional $100,000 in compensation in the first season rising each year to $140,000 in additional compensation for the 2027-28 season.

The buyout structure if Halcovage terminates his contract begins at $750,000 through March 29, 2024, going down to $600,000 in the second year, $450,000 in the third, $300,000 in the fourth, and $150,000 in fifth. If UB terminates the deal within the first year, Halcovage will receive $950,000, going down to $800,000 in the second year, $700,000 in the third, $600,000 in the fourth, and $400,000 in the fifth.

Halcovage’s annual compensation is slightly higher than the coach he is replacing, Jim Whitesell, who had a total annual compensation of $400,000, with $300,000 coming in base salary. Whitesell was owed a $500,000 buyout when UB fired him in March.

UB football coach Maurice Linguist’s total annual compensation is $675,000.

The salary pool for Halcovage’s staff of three assistant coaches, director of basketball operations and video coordinator is $425,000. Each assistant coach also will receive an annual vehicle stiped of $4,800.

Bonuses in Halcovage’s contract include:

– $10,000 for 20 wins in a season

– $15,000 for 24 wins in a season

– $15,000 for MAC Coach of the Year

– $15,000 for NABC Regional Coach of the Year

– $25,000 for NABC National Coach of the Year

– $30,000 for a MAC regular season championship

– $15,000 for MAC co-championship in regular season but No. 2 seed in tournament

– $30,000 for a MAC tournament championship

– $25,000 for an NCAA tournament at-large bid

– $10,000 for reaching NCAA tournament second round

– $15,000 for reaching NCAA tournament round of 16

– $20,000 for reaching NCAA tournament round of 8

– $35,000 for reaching Final Four

– $50,000 for reaching national championship game

– $75,000 for winning national championship

– $5,000 for NIT appearance and each win in opening rounds

– $7,500 for reaching NIT semifinal

– $10,000 NIT championship appearance

– $15,000 for NIT championship victory

– $10,000-$25,000 for Academic Progress Rate thresholds

There are similar bonuses in place for Halcovage’s assistant pool.

You can see the full terms below.