Rich Rodriguez agreed to six-year deal worth $2.5 million annually when he left West Virginia last month for Michigan.
The contract, which has not been finalized or signed, also includes a $4 million buyout. The terms of Rodriguez's deal were confirmed Sunday by school spokesman Bruce Madej.
West Virginia has sued Rodriguez to collect on a $4 million buyout clause in his contract with the Mountaineers.
When Rodriguez was introduced as Michigan's new coach on Dec. 17, school officials declined to comment on any details of the deal.
The Ann Arbor News reported Rodriguez signed a letter of intent on Dec. 16, the day before his first news conference in Ann Arbor, after obtaining several parameters of the contract through a public records request.
Rodriguez's buyout decreases by $500,000 in each year of the deal, the newspaper reported, and he can earn a $300,000 bonus if Michigan wins a national championship and $200,000 if it plays in a Bowl Championship Series game.
The Associated Press made a public records request last month for Rodriguez's signed contract.