Mike Leach and Texas Tech agreed to an extension that will keep the coach under contract in Lubbock through 2013, according to the Dallas Morning News.

The contract extension is a five-year, $12.7 million deal.

According to the paper, the sticking points that have held up negotiations for the last 10 months were settled.

The two sides agreed to take out the buyout in the contract altogether, the source said. Tech had wanted a $1.5 million buyout, but now Leach will become the fifth Big 12 football head coach without a buyout in his contract.

The two sides agreed to raise Leach’s guaranteed money to $2 million, the source said, if Leach is terminated without cause. Tech had offered $1.5 million in its latest offer. Both parties agreed that Leach is to give notification if he is to interview for another job, the source said, but doesn’t need Myers’ permission, as Tech had originally asked. Both sides agreed to meet in the middle on Leach’s personal property rights, the source said.

The main part of that is that Leach can interview with other schools, as long as he notifies school officials. Considering they were ready to fire him for not taking an extension, this is a big one for Leach to get put in writing.

I’m glad to see that Leach is getting taken care of, since he deserves it for what he’s done with that program. But to be honest, who would ever want to sign a contract extension with a school (or any employer) that puts a deadline on accepting an offer of an extension, and considers termination if you don’t take the extension. He was already under contract!

How can you force someone to take an extension on an active deal, and threaten termination if you let a deadline pass. Maybe it’s me, but that should be the first indicator that you don’t want to work for this employer.

Oh well, buyer beware. And that goes for Leach and Texas Tech.

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