Hauck was hired in 2010 after turning Montana into an FCS power. He compiled a 15-48 record in five seasons. His teams won more just two games in each of his first three seasons. Last season, the Rebels finished the regular season at 7-5 and lost to North Texas in the Heart of Dallas Bowl.
Hauck had two years remaining on his contract and will receive a one-time payment of $400,000, the school said.
"We were given an opportunity to get it done here at UNLV and we simply did not win enough games," Hauck said in a statement. "It's my responsibility to push the program forward and I wish we would have produced better results."
- Dan Gartland