If you look at the details he’s not taking very much less money at all.
Correct, but similar deal to what Michigan did with Harbaugh. Allows the AD to make it look like he got a pound of flesh, and the coach recognizes the team has under achieved and didn't earn his past salary.
Basically, the underachieving prodigal son discount.
Carry on, my wayward son
There'll be peace when you are done
Lay your weary head to rest
Don't you cry no more ....
Kansas