Odom had two more seasons remaining on his contract after this year. On Friday, the coach announced he would retire after this season.
Odom's contract calls for payments of $250,000 for next season and $50,000 for 2009-10. The 65-year-old coach will also get paid almost $20,000 during April.
A year ago, Odom was given a two-year extension for a package that paid him about $700,000 per season.
The Gamecocks take on Florida at the Colonial Center on Wednesday night, Odom's first game since announcing his retirement.