Boise State coach Chris Petersen has reached agreement with the school on a $375,000-per-year raise and new five-year contract.

The entire contract, coming 10 days after Petersen led the 12-1 Broncos to a MAACO Bowl win, is subject to approval by the State Board of Education in February.

The board on Wednesday unanimously approved a $375,000 pay raise for Petersen for 2012.

"I feel honored and blessed that I will continue to lead this football team," Petersen said in a statement. "I appreciate the support of the administration and Bronco Nation, and I'm excited about the continued growth of this program."

Petersen's agreement calls for $2 million in the first year, $2.2 million in the second, $2.4 million in the third, $2.6 million in the fourth and $2.8 million in the fifth.

"Chris Petersen's success in sustaining excellence in football at Boise State has created a unique opportunity for the university to achieve national attention as a school equally dedicated to academic excellence," Boise State president Dr. Bob Kustra said in a statement. " ... Chris is a national role model for football coaches across the nation and it is my fondest hope that he will provide that leadership from Boise State for years to come."

Petersen gets a $100,000 retention bonus in his second year and a $200,000 retention bonus in contract years three through five.

Idaho's education board received permission in October to fatten his previous pact after it approved a series of tweaks to the contract terms.

Under terms initiated then by the university, Petersen's automatic one-year contract extensions for every season the Broncos win eight games would include a $100,000 raise, double the previous amount.

Petersen's total compensation this season was $1.625 million. That amount is set to increase by $100,000 every subsequent year to $1.9 million in 2015.

Information from The Associated Press and ESPN college football reporter Joe Schad was used in this report.