Per Mizzou's official release:

CURATORS APPROVE INITIAL CONTRACT TERMS FOR BARRY ODOM

COLUMBIA, Mo. – The University of Missouri System Board of Curators today approved the initial contract terms for newly-minted Head Football Coach Barry Odom. The Board approved a memorandum of understanding, which outlines a majority of the contractual points, with additional details yet to be determined related to potential incentive compensation. The memorandum stands in place of the fully-executed contract, until that is finalized.

Terms of the agreement call for Odom to be paid $2,350,000 guaranteed annually, which includes a base salary of $450,000, plus a guaranteed non-salary compensation amount of $1,900,000. The last figure covers guarantees of $475,000 each in four different categories related to operating the football program: radio appearances, television appearances, apparel rights, and public relations and stewardship appearances. Odom will also receive an annuity payment in the amount of $100,000 per year ($500,000 total) contingent upon his being in good standing on the final date of his contract period.

"I’m very grateful to Mack Rhoades, Chancellor Hank Foley, President Mike Middleton, the Board of Curators and the entire university administration for this opportunity," Odom said. "Through this process they have shown an unwavering commitment to provide us with the resources we need to attract and retain an elite staff and support our student-athletes in order to compete at the highest level."

Odom’s final contract will also include a highly-competitive incentive structure worth up to $1.5 million in additional compensation per year. The mutually agreed upon performance incentives will be related to academic performance, social responsibility, athletic performance and coaching recognition. Those are still to be determined, and will be released with the fully-executed contract when available.

The contract went into effect on Dec. 3, 2015 and runs through Feb. 28, 2021, with a mutual option for a two-year extension.

Odom would receive a $250,000 non-salary compensation increase should his Tigers win a conference championship, as well as a similar $250,000 increase should Mizzou participate in a "New Year’s Six" bowl game (i.e., Cotton, Fiesta, Orange, Peach, Rose, Sugar). Those increases would be added to the non-salary figure a maximum of one time each for the remainder of the contract term.