EUGENE, Ore. – Oregon and defensive coordinator Jim Leavitt have mutually parted ways.

The two sides reached a financial settlement that will pay Leavitt $2.5 million, funded by private sources over multiple years, Oregon announced Thursday. The settlement would be less if he gets a new job.

Leavitt, a Missouri graduate and former Kansas State assistant under Bill Snyder, was under contract until 2021. He spent two seasons in Eugene after he was hired by former Ducks coach Willie Taggart

Oregon's total defense ranked third in the Pac-12 last season, allowing opponents an average of 427.2 yards a game. The Ducks allowed an average of 25.4 points per game to rank sixth in the Pac-12. Oregon finished 9-4.

Leavitt, head coach at South Florida from 1997 to 2009, reportedly interviewed in the offseason for the head coach openings at Colorado, Kansas State and Texas Tech.

A national search is underway for a replacement.