Newly hired head coach Timmy Chang’s contract will provide some financial flexibility for the University of Hawaii football team.

Chang agreed to a four-year contract that will add a fifth year if the Rainbow Warriors qualify for a postseason bowl in 2022 or 2023. This is the breakdown:

>> Year 1: $250,000 annual base salary, and $41,667 bi-monthly retention bonus. Total: $500,010.

>> Year 2: $275,004 annual base, and $54,167 bi-monthly retention bonus. Total: $600,006.

>> Year 3: $290,004 annual base, and $68,334 bi-monthly retention bonus. Total: $700,008.

>> Year 4: $294,004 annual base, and $76,667 bi-monthly retention bonus. Total: $750,006.

>> Year 5: $290,004 annual base, and $85,000 bi-monthly retention bonus. Total: $800,004.

While there are buyout penalties if he leaves before the contract’s expiration, UH has included a unique pay-as-you-go clause. In the equivalent of a participation bonus, Chang will receive a sizable bonus — paid every other month — the longer he stays. According to people familiar with contracts, UH is only required to pay the fringes on the base salary but not the retention bonus.

There also are bonuses for excelling in the Mountain West Conference, reaching bowl games, winning coaching awards, and making academic progress. Chang also will receive use of a courtesy car, a $15,000 relocation fee (he and his wife own a house in Reno), and up to 24 season tickets.

During Tuesday’s news conference, athletic director David Matlin said Chang’s contract needs Board of Regents approval.

Todd Graham, who resigned as UH head coach two weeks ago, earned $760,000 in base pay in 2020 and $800,00 in 2021. After being fired as Arizona State’s head coach at the end of the 2017 season, Graham received a buyout of about $12 million, which was stretched over several years. There were no offsetting clauses in Graham’s parachute, meaning his UH salary was not deducted from his ASU buyout. He did not accept a buyout from UH nor pay an early-departure fee.

Matlin indicated the salary differences between Chang and Graham would be reinvested in the Rainbow Warriors program.

In 2007, June Jones was projected to earn $800,000 in his final season, with half the salary coming from private sources.

Jones’ successor, Greg McMackin, earned $1.1 million annually on a five-year contract. He retired after his fourth UH season, and received half his remaining salary as a buyout.

Norm Chow earned about $550,000 annually on a five-year contract. He lasted four UH seasons.

Nick Rolovich earned a base salary of $400,008 in 2016, his initial season with UH. According to published reports, Rolovich was due to receive a hefty raise on his fourth-year salary of $425,000 if he stayed at UH and not accepted $3 million a year to coach at Washington State.

The Warriors are expected to introduce new assistant coaches as early as today.