A 1/20/2007 Ramblin Wreck post noted Chan had signed the 5-year-contract extension he'd agreed to in November, and a later WR post that day noted ESPN had made Chan Gailey's contract available for downloading in pdf format.
You may recall around that time many GT fans were mad at him for interviewing for pro jobs.
Back on 10/28/07, the GT Sports Blog dug into the contract [which now ends on December 31, 2011], ran the numbers, and comes up with a grand total of $4,423,402 that the GTAA would owe him if they let him go after the season, or $92,154.20 a month (at least). GTAA can pay by the month.
So, Chan will be [for the next four years] making more each month than many reading this have ever made in a year.
A coach's compensation (and payout) should be more of a function of results. There is some of that, but not nearly enough, in Chan's contract:
A win against UGA pays a bonus of only $5,000.
Chan gets a $25,000 bonus for participating in a post season game - any post season game and $25,000 for winning it.
He gets an additional $25,000 if it's a BCS bowl and $25,000 for an ACC championship.