Alabama men’s basketball coach Nate Oats and athletic director Greg Byrne were officially rewarded with raises and extensions Monday.

The contracts received formal approval from the UA System Board of Trustees compensation committee.

Oats’ new six-year contract calls for him to make $5 million this year, rising to $7.55 million in his final year through March 14, 2030.

Bryne had announced Friday night that Oats had signed a new contract, but the details weren’t released until Monday. Oats has led Alabama to the NCAA tournament four years in a row, and the Crimson Tide received their first No. 1 seed last season.

The contract comes with a hefty buyout of $18 million if Oats leaves in the first two years, which Byrne said is the highest in college basketball.

Oats’ previous deal was worth $4.5 million annually through the 2029 season.

“We have enjoyed tremendous success during our five years at Alabama and we look forward to building on that for many years to come,” Oats said in a statement.

Alabama gave Byrne an eight-year deal, set to pay him just over $2 million annually. Byrne took over as athletic director in January 2017 and was charged with replacing Nick Saban, who won six of his titles at Alabama.

“Greg’s done an incredible job of leading our athletics program since his arrival, and certainly during this time of great changes in our athletics world,” university president Stuart Bell told trustees.

Trustees also approved deals for two of Oats’ assistants: Preston Murphy is set to make $450,000 a year under a two-year deal and Ryan Pannone’s two-year deal is worth $360,000 annually.

Information from The Associated Press was used in this report.