MORGANTOWN — Dana Holgorsen became the highest paid football coach in West Virginia University history on Wednesday when he agreed to a contract that will pay up from $2.3 million to $2.9 million a year in salary through the 2017 season.

Rich Rodriguez was the previously highest paid coach at approximated $1.9 million a year when he walked out following one of the most damaging losses in school history to Pittsburgh and took the head coaching job at Michigan.

Holgorsen had been operating under a term sheet he agreed to a year and a half ago. He never had signed a formal contract, leading to some speculation as to whether or not he was fully committing himself to the university.

He, however, says he never had any second thoughts or doubts.

“I didn’t view any questions about what my commitment was,” he said.

Once last season ended, WVU athletic director Oliver Luck and Holgorsen’s agent began serious negotiations on the new deal that was signed after practice Wednesday.

“It’s a significant commitment from the university to Coach Holgorsen and, in turn, a significant commitment to us from Coach Holgorsen,” Luck said.

Significant indeed.

Holgorsen’s base salary is $250,000 a year from the university with supplemental compensation bringing it up to the following totals:

2013: $2,500,000

2014: $2,700,000

2015: $2,800,000

2016: $2,900,000

2017: $2,900,000

In addition, Holgorsen has a generous retention bonus program of $75,000 annually, and there is a one-time payment if employed March 1 of next year of $50,000 and a $300,000 payment if he is employed on March 1, 2014.

“It’s a fluid market,” Luck said when asked why retention bonuses were necessary in a contract that paid a minimum of $2.3 million plus incentive bonuses. “I believe Coach Holgorsen is a coach who will be in demand. He’s young. He’s innovative. He has a great track record of success in a very difficult conference as an assistant.”

The performance bonuses are capped at $600,000 a year. They include:

• From $75,000 to $200,000 for eight to 12 wins.

• Up to $50,000 for from 34,000 to 38,000 tickets sold.

• $200,000 for winning the Big 12 regular-season title.

• From $25,000 to $250,000 from a non-BCS bowl appearance up to winning a national championship

• Top 25 finish is $25,000, Top 10 is $50,000, No. 1 is $50,000

• From $20,000 to $30,000 for grade-point averages of 2.60 to 3.00 for team.

• National Coach of the Year $50,000, $15,000 for Big 12 Coach of the Year.

Holgorsen is also given two courtesy automobiles, a suite for each home game which includes 25 premium tickets, 20 premium tickets for each road game, 10 premium tickets for any post-season bowl, and eight tickets for each men’s and women’s home basketball game.

The total package could give Holgorsen $20.5 million.

The new deal, as lucrative as it is, still leaves Holgorsen ranking seventh in the Big 12 among coaches.

Texas’ Mack Brown is highest paid at $5.3 annually while Oklahoma’s Bob Stoops checks in second at $4.35 million and Oklahoma State’s Mike Gundy is third at $3.275 million. TCU Coach Gary Patterson is fourth in salary with $3.075 million a year while Baylor’s Art Briles earns $2.762 a year. Kansas’ Charlie Weis is at $2.5 million a year, followed by the venerable Bill Snyder of Kansas State at $2.25, Texas Tech’s Tommy Tuberville at $2.1 million and Iowa State’s Paul Rhodes at $1.6 million.

Most interesting, in this day and age, is the deal Holgorsen got should either side decide to end the association.

If the school elects to terminate him other than without cause, it must pay Holgorsen all the base salary, supplemental compensation and incentive earned but unpaid, but if Holgorsen chooses to leave he must pay the school $2 million. There is no provision against him going to a school within the same conference as WVU.

Holgorsen’s obligations include a minimum of 12 appearances at Mountaineer Athletic Club functions, radio and television and internet shows, at least one appearance at a function of the Coca-Cola Company and one at a function of United Bank.

Holgorsen was a long-time offensive assistant coach who learned at the knees of offensive innovators Hal Mumme and Mike Leach. He spent more than a decade at Texas Tech, moved on to Houston for two years and a year at Oklahoma State before being hired as coach in waiting last year as Bill Stewart was to coach his final season.

Stewart was earning $800,000. And happy with it.

Stewart, however, was fired following spring practice and the team turned over to Holgorsen, who not only won 10 games but capped off the season with as dazzling an offensive performance as has ever been seen at West Virginia, scoring 10 touchdowns and beating Clemson, 70-33.

The Mountaineers broke nearly every Orange Bowl offensive record in the process.

Now, everyone in the Mountaineer organization can move forward believing there is some stability with the program.

“Not only does this affect me, it affects my children, this affects the whole staff,’’ Holgorsen said. “It affects not only the assistant coaches, but everybody in the whole building. I’m really excited to get this done and out of the way.’’

Email Bob Hertzel at bhertzel@hotmail.com. Follow on Twitter @bhertzel.