University of Wisconsin athletics director Barry Alvarez will earn $118,500 for coaching the Badgers in the Rose Bowl. The former head coach of the team from 1990 to 2005, Alvarez will receive a $50,000 bonus if Wisconsin beats Stanford on New Year’s Day.

The executive committee of Wisconsin's Board of Regents on Tuesday agreed to the terms following the departure of head coach Bret Bielema, who left to take a job at Arkansas. The money for the coaching job will come out of Bielema’s $1 million buyout to be paid by Arkansas, The Associated Press reported.

Alvarez will receive $195,000 in December, which is 90 percent of Bielema’s monthly coaching salary. He will also get $8,500, which is 10 percent of his athletics director salary. The total pay of $203,500 is a one-time $118,500 increase in his monthly salary, the AP reported.

Alvarez won three Rose Bowl titles with Wisconsin, the last in 2000. He has an 8-3 record in bowl games.

Interim Wisconsin Chancellor David Ward said Alvarez “has a one-of-a-kind skill set that the university needs to be successful” in the Rose Bowl and in attracting the best coaching candidates.