Thanks to WWAY’s John Rendleman, I received a hard copy of Buzz Peterson’s newly signed contract. Here’s the breakdown:

The contract is for five years and will run through May 31, 2015.

Peterson will be paid an initial annual base salary of $200,000 for his first year of service to the university. In each subsequent year of his contract, Peterson will earn a $10,000 raise, along with “all other regular employment benefits provided by the State of North Carolina.”

Peterson will receive an additional $100,000 a year for “Broadcast Programs” which will include a weekly television show, radio show and a possible internet program.

Peterson will also be paid $100,000 a year for “marketing and fundraising efforts,” which will mostly include involvement with the Seahawk Club.

The contract also states that Peterson will earn an additional $35,500 in years one and two of the deal as a “retention bonus.” If Peterson is the head coach on June 1 of the contractual year, he receives the bonus.

Peterson will also receive a vehicle or vehicle allowance provided by the university while head coach.

The year-by-year breakdown is as follows:2010-11: $435,5002011-12: $445,5002012-13: $420,0002013-14: $430,0002014-15: $440,000

If Peterson remains head coach for the duration of his five-year contract, he will make $2.171 million.

The contract includes a stiff penalty if Peterson decides to leave UNCW for another job. If Peterson takes another job before June 1, 2011, he would owe UNCW $500,000 in liquidation damages. That number drops $100,000 each contractual year, meaning he would have to pay $400,000 if he terminated his contract by June 1, 2012; $300,000 if he terminated his contract by June 1, 2013, and so on. This clause addresses the concern expressed by many Seahawk fans that Peterson is quick to move from job to job. UNCW is Peterson’s seventh place of employment since 2000.