Via the mothership:
And the relevant bits from the release:
The terms of Beilein's extension call for him to earn a base salary of $400,000 with additional compensation of $1,470,000 per year for TV, radio, internet, shoe/apparel sponsorships, consulting, promotion and other services. In separate deferred payments, Beilein will receive an additional $1.5 million annually through the University's Supplemental Defined Contributions Retirement Plan.
The contract also provides opportunities for supplemental pay based on a range of performance measures from winning the Big Ten regular-season title and tournament championships as well as selection to and victories in the NCAA Tournament.
The perception already was that he was here through retirement—Michigan would be insane to let him go—but it was time to do this again because his last contract, signed in 2013, would have expired when this year's freshmen are seniors. When this one runs out he'll be 68.