GAINESVILLE (CBSMiami.com) – The University of Florida has finally released contractual details for new head football coach Will Muschamp, and it’s safe to say, he won’t need to pinch his pennies anytime soon.

Muschamp’s contract is for five years and is worth a total of $13.752 million, according to the Gainesville Sun. Muschamp received a $750,000 signing bonus and will have an annual salary of $2.75 million.

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The contract runs through 2015 and includes a $500,000 buyout clause and has plenty of incentives. For example, if the Gators win the national championship he gets $250,000 and if the Gators win the SEC championship, he automatically gets $75,000, according to the Sun.

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If the school fires Muschamp, he will receive $2 milllion per year for the remainder of his contract. But, if Muschamp stays with the school through the contract, he’ll get $500,000.

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Muschamp’s contract puts him in the same league as Mississippi State’s Dan Mullen, but well behind the highest paid coach in the conference, Alabama’s Nick Saban who makes $6 million per season.