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OSU's official Meyer announcement, contract

It's official: Urban Meyer is Ohio State's head football coach.

The school announced Monday afternoon that Meyer has agreed to a six-year contract that will pay him a base salary of $4 million per year. Meyer's contract includes performance bonuses for the team's on-field performance -- including $250,000 for reaching the BCS National Championship Game -- as well as players' academic performance.

Luke Fickell will coach the Buckeyes in an upcoming bowl game and remain on Meyer's staff.

Here are some official statements:

President E. Gordon Gee: "In Urban Meyer we have found an exemplary person and remarkable coach to lead the University's football program into the future. As an alumnus, he understands and believes in the core academic mission of the University. As an Ohioan, he shares our common values and sense of purpose."

Meyer: "I am honored and humbled by the opportunity to return to Ohio State. This university and the state of Ohio have enormous meaning to me. My duty is to ensure that Ohio State's football program reflects and enhances the academic mission of the institution. I am part of it, I believe in it, and I will live it."

Here's a link to Meyer's contract, which goes into effect today through Jan. 31, 2018.

Some notes:

  • Meyer will receive a retention payment of $450,000 if he's still the coach on Jan. 31, 2014; he'll receive $750,000 if he's still the coach on Jan. 31, 2016; and he'll receive $1.2 million if he's still the coach at the end of the contract in 2018.

  • Meyer receives $50,000 for winning a Leaders division championship; he receives $100,000 plus an additional year on his contract if he wins the Big Ten championship; he receives $150,000 for reaching a BCS bowl game (not national title game).

  • Meyer receives a $1,200 monthly stipend to cover the expenses of two cars.

  • Meyer can use a private jet for recruiting visits 200 miles from Columbus. He also receives personal use of a private jet 35 hours per year of the contract.

Much more to come.