Lane Kiffin contract: LSU will pay Kiffin for Ole Miss playoff appearance

Lane Kiffin won't coach Ole Miss in the upcoming College Football Playoff, but he'll still be paid based on how well they perform. As part of his new contract from LSU, Kiffin will receive bonuses based on how far Ole Miss advances in the playoff ... and those bonuses will be paid by LSU.

Essentially, LSU agreed to pay Kiffin the same bonuses he was set to receive had he stayed at Ole Miss during the CFP, per nola.com. Kiffin will receive a bonus of $150,000 if Ole Miss plays a game in the first round of the CFP. That number jumps to $250,000 if the team reaches the quarterfinals, $500,000 for the semifinals, $750,000 if they make it to the national championship and $1 million if Ole Miss wins it all.

When he announced his move to LSU, Kiffin was adamant that he wanted to continue to coach Ole Miss for the rest of the season. He put the blame on Ole Miss athletic director Keith Carter, saying he denied Kiffin's request to remain Ole Miss' coach through the playoff.

With Kiffin gone, the Rebels will be coached by defensive coordinator Pete Golding moving forward. Ole Miss named Golding its permanent head coach following Kiffin's exit.

Under Kiffin, Ole Miss went 11-1 this season. While the team doesn't officially have a spot in the CFP yet, Kiffin essentially clinched a playoff berth Friday with a win over Mississippi State in his final game with the Rebels.

Two days later, Kiffin officially left Ole Miss, marking yet another dramatic exit in a career full of them.

Lane Kiffin contract details

Shortly after Kiffin left Ole Miss, details from his new contract with LSU emerged. As part of his deal with LSU, Kiffin will make $13 million per year, making him the second-highest paid college football coach in the country. Only Georgia coach Kirby Smart made more.

But that would change if Kiffin leads LSU to a national title. If LSU wins the national championship under Kiffin, an escalator would kick in that would make him the highest-paid college football coach, per nola.com. Kiffin has experienced a lot of success as a head coach, but is still searching for his first-ever national championship win in that role.

In addition to paying Kiffin's for Ole Miss' success in the CFP, LSU will also pay Kiffin's $3 million buyout for leaving the Rebels.

If LSU decides to fire Kiffin without cause, he would receive 80 percent of his remaining salary, which would be paid out in monthly installments through 2032. His compensation is reportedly fully guaranteed. LSU would not have to pay out anything to Kiffin if he's fired for cause.

The school recently went through that situation with former coach Brian Kelly, who LSU eventually fired without cause after a nasty back-and-forth with Kelly's attorneys. As a result, the school has to pay Kelly a $54 million buyout.

Kiffin is also eligible for playoff incentives at LSU. He can earn up to $4 million depending on whether LSU wins the SEC or the national championship. Kiffin will get $1 million for an SEC title and $3 million for a national championship at LSU.

The deal also contains decreasing penalties if Kiffin leaves LSU for another program. If he leaves after just one season, he'll owe LSU $7 million. That figure decreases by $1 million every year Kiffin remains at LSU. If he left LSU in 2031, Kiffin would owe the school $1.5 million, per nola.com.

After Kelly's dismissal, LSU is hoping for more stability under Kiffin. The school has plenty of incentive to make the partnership work, especially considering the Kelly fiasco and the amount it would have to pay out to Kiffin if things fall apart.