Lincoln, Neb. Nebraska coach Bill Callahan has been given a new, five-year contract for $1.75 million a year.
It will run through Jan. 31, 2012. Callahan's old contract was to run through 2008.
Callahan is 23-15 in four seasons with the Cornhuskers, winning the Big 12 North championship last year.
"In terms of what he's done for the program, he has certainly met or exceeded my expectations at this juncture," athletic director Steve Pederson said Tuesday.
The 51-year-old Callahan signed a six-year contract paying him $1.5 million a season when he was hired in January 2004.
Under the new contract, Callahan can earn $425,000 in bonuses annually for winning division, conference and national championships, Pederson said Tuesday.
Callahan remains the fourth-highest paid coach in the Big 12 behind Oklahoma's Bob Stoops ($3.45 million), Texas' Mack Brown ($2.91 million) and Texas A&M's Dennis Franchione ($2.01 million).