Air Force and football coach Troy Calhoun have agreed to a new five-year contract worth $4.175 million, the academy announced Wednesday.

Calhoun will be paid a base salary of $725,000 in each of the five years of the contract (it will not increase annually). In addition to his $3.625 million base salary over the duration of the deal, his benefits package will be worth approximately $110,000 per year.

The new contract represents a significant raise – especially by academy athletic standards – as Calhoun made a base salary of $560,000 in 2008. Athletic director Hans Mueh hopes it will help keep his hot commodity coach at the academy. Calhoun, who has led the Falcons to a 17-9 record and two bowl games in his two seasons, was a candidate for the openings at Clemson and Tennessee in late December and was linked to several other openings.

The percentage figures in Calhoun’s incentive package are the same as in his previous contract – though the payouts will be larger because of his increased base salary. Among the incentives are a 2.5-percent bonus for earning Mountain West Conference Coach of the Year honors, a 5-percent bonus for winning or retaining the Commander-in-Chief’s Trophy, a 7.5-percent bonus for winning the MWC, a 10-percent bonus for a non-BCS bowl invitation and a 20 percent bonus for a BCS bowl invitation.

If Calhoun leaves before the end of his contract, he or the team for which he leaves would have to pay 25 percent of his remaining total base salary. In other words, if he leaves after the 2009 season, he’d still have four years and $2.9 million remaining on his deal – thus, the buyout would be $725,000.

Like his previous contract, this one is structured as a “rolling” deal, meaning it will be reviewed annually and, if both sides agree, another year will be added so Calhoun always will have five years left on his contract. Ostensibly, this is the academy’s way of giving Calhoun a long-term deal, because it is not permitted to extend contracts of more than five years. But it also keeps the buyout figure high.

Calhoun’s assistants also got raises. The pool of money for his nine contract assistants was increased from $885,000 to $1.17 million annually. How that money will be dispersed has not yet been released.

Calhoun released a statement that read, in part: “The academy’s purpose – to educate and develop young people of integrity and fortitude who serve as outstanding leaders for our country – is both unique and quite moving. With regards to Air Force football, for over 50 years there have been many exciting moments, and we look forward to many more in the coming years.”