On Saturday afternoon, Rutgers Football announced the hiring of Jim Panagos as the team’s new defensive line coach.

Earlier today, The Knight Report obtained the offer letter for Panagos following an Open Public Records Act request with Rutgers University.

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During his first season at Rutgers Panagos’ anticipated salary is $450,000. In year two his salary will jump to $500,000. This is a large increase over the former defensive line coach Corey Brown's contract as he was only making $250,000 per year over the past two seasons.

Panagos’ salary is currently the second highest on staff right behind secondary coach Fran Brown who is earning $575,000 annually per a recent report from NJ Advance Media.

There are also a couple of termination clauses in the contract.

If Panagos were to leave Rutgers before or on September 1st, 2020, he would own the University “an amount equal to 100% of assistant coach's then-current total annual compensation.” If he were to leave after that date, he would owe “20% of assistant coach's then-current total annual compensation.”

Along with his yearly compensation, Panagos will also receive an $800 per month stipend for a vehicle and receive relocation expenses up to an aggregate total limit of $25,000.