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Kansas State coach Bill Snyder has signed a five-year contract extension through the 2017 season, the school announced Thursday morning.
The school announced the deal pays Snyder $2.75 million for the 2013 season, with annual increases of $100,000 in each season thereafter.
He will also receive $50,000 for each bowl appearance, $100,000 if it's a "BCS bowl," $175,000 for making the national semifinals when the playoff structure begins in 2014, $250,000 for playing in the championship game, or $350,000 for winning the national title.
Snyder is also eligible for a $30,000 bonus for winning one of three coach of the year awards, $50,000 for a top-20 finish in the Associated Press or BCS standings, or $100,000 for finishing in the top 10.
"Coach Snyder's daily drive, focus and energy in continuing to build the K-State football program are truly remarkable and inspirational," athletic director John Currie said in a statement. "While he is not one to focus attention on himself, President (Kirk) Schulz and I felt that it was important to recognize in this very significant way his tremendous leadership and commitment to continuing to lead the K-State football program."
Snyder guided Kansas State to an 11-2 record in 2012 and the school's second Big 12 title. It was also the seventh 11-win season in school history. Snyder is 170-85-1 at Kansas State.
"As I have stated so often we came to Kansas State because of the people, stayed because of the people and returned because of the people, and that remains unchanged," Snyder said in the statement. "We have continued to make daily improvement as a football program, and I am grateful for the opportunity to continue and will do so as long as I feel that I am having a positive impact on our university, community and football program and the young men that are involved."
Snyder is seventh all-time in FBS coaching wins and has more than three times as many wins as any coach in K-State history.
Currie told the AP that he wanted to reward the 73-year-old Snyder for the job he's done since returning from a brief retirement four years ago, which includes three straight bowl berths and a 21-5 record over the past two seasons.
But Currie also said that he wanted to reaffirm Kansas State's commitment to Snyder, who will be 78 by the time his new contract is fulfilled. Currie acknowledged that questions often arise about how long Snyder will be on the sideline, including from potential recruits.
"This is really recognition of his leadership," Currie said, "and it also sends a signal: How long he's going to coach, whenever he's going to retire, all that stuff, however long it is we're happy to have him here."
Even when Snyder's coaching career is finished, he'll still have a place at Kansas State. His contract calls for him to become a special assistant to the AD at an annual salary of $250,000.
"The nature of his re-engagement four years ago led to some of those questions," Currie said. "I never had those questions (about how long he'll coach). My interaction with him is always inspiring, because he's always so diligent, working hard and thinking only about those matters at hand."
Beyond the compensation and bonuses, Snyder's contract includes similar benefits to his previous deal: group insurance and retirement plans; the use of a courtesy vehicle and a vehicle stipend; the use of a suite in the stadium, which is undergoing $75 million in renovations; membership at a country club; men's and women's basketball tickets, including Big 12 and NCAA tournament tickets; 10 hours of private plane use annually; $50,000 for business-related expenses; other travel benefits, and the use of the school's recreation complex and associated facilities.
Information from The Associated Press was used in this report.