Oregon State and head football coach Gary Andersen have agreed to mutually part ways effective immediately, OSU vice president and athletic director Scott Barnes announced Monday in a press release.
The two parties agreed to release each other from all future contract obligations and payments that were guaranteed through the 2021 season.
"Coach Andersen's decision to waive his remaining compensation is unprecedented in major college athletics," Barnes said in the release. "His decision is made for the right reasons and values, and it speaks volumes about the kind of honorable person that Gary Andersen is."
"After many discussions with Scott, waiving my contract is the correct decision and enables the young men and the program to move forward and concentrate on the rest of this season," Andersen said in the release. "Coaching is not about the mighty dollar. It is about teaching and putting young men in a position to succeed on and off the field. Success comes when all parties involved are moving in the same direction."
Assistant coach Cory Hall has been made the interim head coach. Barnes said the search for a new coach would start immediately, using a search firm to identity candidate though Barnes and OSU president Ed Ray will make the ultimate decision.
The Beavers are 1-5 this season and have gone 7-23 during his three seasons with the school.
Andersen left a job as the head coach at Wisconsin in 2014 to much surprise.