Bonus Tracker: Here's What Indiana Coach Curt Cignetti Has Earned So Far, Plus Future Bonuses To Come

Here are the details on the six-year contract Curt Cignetti signed to become Indiana's football coach, including bonuses he's earned so far, what he could earn moving forward and buyout information.

Indiana Hoosiers head coach Curt Cignetti walks the sideline against Western Illinois at Memorial Stadium. / Trevor Ruszkowski-Imagn Images

(updated Saturday, Nov. 2 at 6:52 p.m.)

BLOOMINGTON, Ind. – Indiana football is having a historic season in coach Curt Cignetti's first year.

The Hoosiers are 9-0, the best start in program history and one of three nine-win seasons. That has triggered several bonuses in Cignetti's six-year contract at Indiana. With three regular season games remaining, plus a bowl game or College Football Playoff appearance, there's potential for even more.

Much more.

Here are the details of Cignetti's contract, the bonuses he's earned so far, the other bonuses he could earn moving forward, plus his buyout information, according to the memorandum of understanding signed by Cignetti on Nov. 30, 2023, and obtained by Hoosiers on SI through public records requests.

The Curt Cignetti contract

Cignetti agreed to a six-year contract starting on Dec. 1, 2023 and running through Nov. 30, 2029, with an annual base salary of $500,000. In Year 1, he will earn $3.5 million in annual outside, marketing and promotional income. That figure will increase by $100,000 each year and become $4 million in Year 6.

The contract includes an annual retention bonus of $250,000, with the first payment on Nov. 30, 2024. The same payment will be made on Nov. 30 each year of Cignetti's employment at Indiana.

Cignetti's incentive bonuses

BONUS 1, BOWL APPEARANCE: The first bonus Cignetti earned as Indiana's coach came after the Hoosiers' 41-24 win at Northwestern. That marked Indiana's sixth win of the season, which made the Hoosiers bowl eligible.

Cignetti's contract states that each bowl appearance triggers a one-year extension; a $250,000 increase to the remaining outside, marketing and promotional income payments; and a $500,000 increase to the budget for football staff personnel. The extension year shall be no less favorable to Cignetti than the terms of the year that precedes the extension year.

There is also potential for an annual bonus of $200,000 if Indiana makes a bowl appearance that is not part of the College Football Playoff. If it wins that bowl game, Cignetti would receive an additional $50,000 bonus.

BONUS 2, BIG TEN WINS: Cignetti received another bonus as Indiana defeated Michigan State 47-10 on Saturday and improved to 9-0. His contract includes a $150,000 bonus for the sixth Big Ten win.

BONUS 3, TOP BIG TEN FINISHES: Indiana currently sits in a first-place tie with Oregon in the Big Ten standings with a 6-0 conference record, which puts Cignetti in play for another bonus. Cignetti would receive a $250,000 bonus for a top-six finish in the Big Ten, or a $500,000 bonus for a second-place finish, or a $1,000,000 bonus for a Big Ten championship. These bonuses are not cumulative, and the highest conference finish will apply.

BONUS 4, PLAYOFF APPEARANCES: Indiana's 9-0 record puts the Hoosiers in the conversation for the College Football Playoff. Entering Saturday's game against Michigan State, ESPN gave Indiana a 70.5% chance to make the 12-team College Football Playoff. Cignetti's contract includes several CFP-related bonuses.

A first-round appearance in the College Football Playoff results in a $500,000 bonus. Reaching the CFP quarterfinals leads to a $600,000 bonus. Cignetti would receive a $700,000 bonus if Indiana appears in the CFP semifinals. That bonus increases to $1 million if Indiana is the national runner-up and to $2 million if Indiana wins the national championship. These bonuses are not cumulative, and the highest finish will apply.

BONUS 5, COACHING AWARDS: Cignetti has already garnered consideration for national coach of the year awards. During Indiana's bye week, Cignetti was one of 27 coaches named to the Paul "Bear" Bryant National Coach of the Year Award watch list.

His contract includes an annual bonus of $100,000 if he wins one of the following national coach of the year honors: Associated Press, Paul "Bear" Bryant, Sporting News, Walter Camp, Maxwell Football Club or ABC/ESPN. There is a maximum of $100,000 for this category in a single season.

If Cignetti wins the Big Ten Coach of the Year Award, given by the coaches or the media voting panel, he would receive a $50,000 annual bonus. There is a maximum of $50,000 for this category in a single season.

Buyout and termination language

If Cignetti chooses to resign or if his employment is terminated for cause, Indiana University is not liable for compensation or benefits thereafter.

If the university terminates Cignetti’s employment without cause, it would pay him a buyout as follows:

• Between Dec. 1, 2023 – Nov. 30, 2024: $20 million
• Between Dec. 1, 2024 – Nov. 30, 2025: $17 million
• Between Dec. 1, 2025 – Nov. 30, 2026: $14 million
• Between Dec. 1, 2026 – Nov. 30, 2027: $9 million
• Between Dec. 1, 2027 – Nov. 30, 2028: $6 million
• Between Dec. 1, 2028 – Nov. 30, 2029: $3 million

If Cignetti resigns prior to the end of his contract — say, for instance, if he is hired by another school –– he would pay the university the following as liquidated damages:

• Between Dec. 1, 2023 – Nov. 30, 2024: $8 million
• Between Dec. 1, 2024 – Nov. 30, 2025: $6 million
• Between Dec. 1, 2025 – Nov. 30, 2026: $4 million
• Between Dec. 1, 2026 – Nov. 30, 2027: $2 million
• Between Dec. 1, 2027 – Nov. 30, 2028: $1 million
• Between Dec. 1, 2028 – Nov. 30, 2029: $1 million

Cignetti's contract states that Indiana will take reasonable steps to satisfy his existing financial obligation (buyout) to James Madison in a manner that is tax neutral to him. If Cignetti leaves Indiana, it is likely that the new school that hires him would do the same.

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