New University of Arkansas football coach Bret Bielema has signed a letter of agreement that will pay him $3.2 million annually for six years.

Arkansas Business is reporting outlined in the 14-page document, is a buyout for firing Bielema that starts at $12.8 million in the first year and drops to $3.2 million in year six.

Bielema, who will be introduced as coach at 4 p.m. Wednesday news conference at the Broyles Center in Fayetteville, would owe the UA between $3 million and $500,000 if he chooses to leave over the course of his contract.

The deal also includes a no-compete clause probibiting him from leaving for other Southeastern Conference schools.

Arkansas will also make arrangements to pay Wisconsin the $1 million buyout that Bielema owes for leaving the Badgers.

Bielemal's contract will easily make him the top-paid state employee in Arkansas.