Clemson coach Dabo Swinney agreed to a new 10-year, $115 million contract Thursday, the largest college football coaching contract by total compensation.

The new, enhanced contract runs through the 2031 football season and averages $11.5 million over 10 years. In 2022, Swinney is set to earn $10.5 million, just behind Alabama coach Nick Saban, who recently got a raise and extension that will pay him $10.7 million this season.

Over the length of his contract, which runs through 2030, Saban will make an average of $11.7 million per year. In July, Georgia coach Kirby Smart signed a 10-year, $112.5 million contract that averages $11.2 million per year.

Swinney, Saban and Smart have combined to win six of the eight national championships in the College Football Playoff era.

Entering his 15th season as Clemson head coach — beginning as interim coach in 2008 — Swinney has won two national championships and seven ACC titles. With 151 wins, Swinney is in third place in FBS history for the most coaching wins in the first 15 seasons of a head-coaching career behind Urban Meyer (165) and Bob Stoops (160).

“It is hard for me to believe I am in my 14th full season as your head coach, and I remain eternally grateful and honored for the opportunity to continue coaching and developing young people of excellence at Clemson,” Swinney said in a statement. “This agreement is representative of what has been collectively built here and the success we’ve had both academically and athletically. It is a reflection of the All In commitment of so many people, including our players, our staff, our fans, our administration and our University leadership. While I am certainly proud of our accomplishments on the field, the most rewarding part remains the relationships forged within this program and the ability to positively impact those around us.”

According to the term sheet, if Swinney leaves to become Alabama head coach in 2022, he would owe a $9 million buyout; that number is $6 million in 2022 if he leaves for another college team. He would owe nothing if he leaves for an NFL head-coaching job. The buyout number decreases every year of the deal.

If Clemson fires Swinney without cause, it would owe him $64 million in 2022 and 2023; $60 million in 2024 and 2025 and $57 million in 2026. The final years would pay him the remaining compensation left on the deal.

If he is fired for cause, no buyout would be paid.

Among the contract incentive enhancements in his new deal, Clemson added a $150,000 bonus for a CFP appearance, post-expansion; increased semifinal (added $50,000), final (added $50,000) and championship bonuses (added $100,000); increased ACC championship bonus by $50,000 and increased his maximum bonuses from $1.05 million to $1.5 million.

“I am appreciative of the support from the Board of Trustees to President Clements to ensure we can continue to build on a firm foundation, as Clemson football and Coach Swinney’s leadership are a key driver for our university,” athletic director Graham Neff said in a statement. “It is critical that Clemson continue to invest in our football program, and ensure our head coach is at Clemson for a long, long time. The best is yet to come.”

ESPN’s Adam Rittenberg contributed to this report.