On Monday, Rick Barnes signed an agreement with the University of Tennessee to earn $2.25 million annually for six seasons as the head coach of the men’s basketball program.

READ:Barnes’ memorandum of understanding

The University of Texas paid Barnes $2,550,000 annually, making him the 11th highest-paid coach in the nation, according to USA Today data.

For winning the SEC tournament, Barnes could earn an extra $25,000. UT would tack an extra $50,000 onto Barnes pay if Tennessee just appeared in the NCAA Tournament. If Tennessee took home the NCAA Tournament title, Barnes would pocket an extra $500,000.

If the university ever fires Barnes without cause, UT must pay him $1 million per contract year.

According to the memorandum of understanding, Barnes must also disclose to the university all information concerning previous NCAA, conference, or institutional rules violations or potential violations committed by him or his staff during his coaching career. UT must also hand over all material to Barnes concerning pending or ongoing NCAA investigations into any sports program at the university.

The university announced it will officially introduce Barnes as the next head coach during a press conference in Pratt Pavilion at 4 p.m. Watch the conference live on wbir.com and Live at 5 at 4.