IIRC, Jimbo's Contract, courtesy of the dumbest bunch of paste-eating morons in College Football, is a guaranteed contract. No buyout, full face value through the term. You want to get rid of him, Aggies? Pay him.
For my part, I would cackle with glee if Jimbo decided to blow off Aggy and go play golf five times a week. Show up at the office for the bare minimum of time, wander around the Athletic Department in flip-flops and stained gym shorts, order tunafish pizza and root beer every Wednesday... And cash that sweet, sweet slice of $10,000,000/yr. each and every week.