Florida State head coach Jimbo Fisher has received a two-year contract extension.

Fisher's new contract will run through the 2024-25 season, according to documents released by the university. He will see his annual salary increased from $5.25 million to $5.55 million beginning in 2017. The $5.55 million is his new guaranteed compensation per year of the contract.

“I am proud to be the football coach at Florida State University, and I am happy we were able to reach a long-term contract to have our staff in place for a long time,” Fisher said in a release through the school. “We are committed to developing young men in all phases of their lives and we have the administrative staff in place to do this.

“Florida State is a special place and I look forward to continuing to build on our past success into the future.”

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Jimbo Fisher 2016 Employment Agreement by Chris Nee on Scribd

He would also receive an automatic one-year contract extension with a 9-win season. That provision is provided to him in two instances based on the contract. He would also see a raise of $100,000 with each additional year added based on the provision.

The report also notes that Fisher's buyout has been altered. The verbiage is from the above link:

In the event Coach Fisher voluntarily terminates his contract prior to conclusion of the Total Term of the Agreement, Coach Fisher would be responsible for paying, as liquidated damages, a sum equal to the aggregate total compensation remaining to be paid to the Assistant Football Coaches (including the Director of Football Ops/Assistant AD for Football and Head Football Strength and Conditioning Coach) pursuant to their Employment Agreements from the date Coach Fisher terminates his Employment Agreement until the expiration of each of the Assistant Football Coaches’ Employment Contracts. The same provision shall apply to any extensions received pursuant to the Agreement.

Previously, Fisher's buyout was $5 million if he left prior to Dec. 31 2016, $3 million if he left prior to Dec. 31 2018 and $1 million if he left prior to Jan. 1, 2019. Based on the wording of his new contract, Fisher would owe the school the amount of the buyout for each member of his coaching staff. In the contract, the example was given that Fisher would owe FSU $5.4 million in liquidated damages if the university is required to pay nine assistants $600,000 each.

Jimbo Fisher's 2016 FSUAA Contract update by Chris Nee on Scribd

Fisher will make an additional $600,000 if he coaches at FSU through the 2018 season, an additional $600,000 if he coaches through the 2022 season and $400,000 if he coaches through the 2024 season.

Staff writer Brendan Sonnone contributed to this report

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