Kansas basketball coach Bill Self has agreed to a new contract that will keep him with the Jayhawks until he retires, even as the school awaits a decision from an independent panel investigating five Level I infractions charges alleged by the NCAA.

The school announced Friday that Self agreed to a five-year contract that adds one additional year after the conclusion of each season - in effect, making it a lifetime contract. The deal guarantees him $5.41 million per year with a base salary of $225,000, professional services contract of $2.75 million and an annual $2.435 million retention bonus.

Self was closing in on the end of a 10-year contract signed in September 2012 that guaranteed him $52.2 million along with a $7.2 million retention bonus. That bonus will be paid in $100,000 monthly installments over seven years.