MEMPHIS, Tenn. — Memphis coach John Calipari has signed a contract extension through the 2012-13 season that includes an annual raise of $500,000.

Calipari will make $2.35 million per year and will receive a $5 million bonus if he stays through the end of the deal, athletic director R.C. Johnson announced today.

Calipari took the Tigers to the national championship game this year, the program's first Final Four since 1985 and first NCAA final since 1973. Memphis lost 75-68 in overtime to Kansas.