Coastal Carolina University and former head football coach David Bennett have agreed to a contract buyout.

The school released a statement and the buyout agreement. According to the agreement, the coach's last day of employment with the school was March 23, 2012.

The school will pay Bennett $925,000. Bennett was removed as head coach on December 9, 2011.

According CCU's statement, school president David DeCenzo, "wishes Coach Bennett well in his every future endeavor and affirms that Coach Bennett will remain a valued member of the Coastal family."

In the statement, which according to the buyout agreement will be both sides only statement on the matter, Bennett says, "our family has been blessed with our time at Coastal Carolina University. Hayes and Jeb have grown up in beautiful Horry County and we wouldn't trade anything for that..."

To read the statements and the agreement in their entirety, click here.