The University of Toledo and football coach Matt Campbell have agreed to a one-year contract extension that will run through the 2017 football season, the university announced today.
Campbell's previous deal was set to expire in December, 2016. His annual salary will increase by $60,000, bringing his 2013 pay to $430,000. Campbell will make $470,000 in the final year of the contract.
Other amendments to his deal include buyout and bonus pay. If Campbell leaves for another job in 2013 or 2014 he is required to pay Toledo $330,000 — an increase of $30,000 from the penalty spelled out on his initial contract. Buyouts for all other years remain the same.
Campbell will make an additional $25,000 if Toledo's grade-point average is 3.0 or higher. He can earn that incentive only once per year. His previous deal did not include discussion of GPA achievement.
Added to the new deal are bonuses for Campbell being named regional coach of the year ($30,000) and national coach of the year ($40,000).
Campbell, in his second full season with the Rockets, has a 15-7 record. Toledo is 5-3 (3-1) entering Saturday's home game against Eastern Michigan.