"I am glad it is signed," said Barbee, who noted he finished the paperwork prior to his team's road trip to Nashville over the weekend.
"The contract was a bigger deal for everybody else but Auburn and me," he said. "I was very comfortable with the letter of agreement we were working under."
Barbee is in the second year of a six-year deal worth at least $1.5 million annually. His base salary is $225,000 per year and he receives $1,275,000 annually for doing radio and television shows, fundraising and other personal appearances for the university.
The coach can also earn up to $500,000 in performance bonuses if his team wins the national championship as well as $25,000 for being named SEC Coach of the Year and $50,000 for being named National Coach of the Year.
If the Tigers win 20 or more games in the first three years of his contract, he is entitled to a $25,000 bonus and another $25,000 for reaching 22 victories in each of the first seasons. After that the contract requires 25 victories for the $25,000 bonus and 30 wins is worth $50,000 to coach.
An invitation to the NCAA Tournament is worth $25,000, a trip to the Sweet 16 is worth another $50,000, the Elite Eight is worth $100,000, the Final Four another $100,000 and reaching the national championship game is worth $100,000.
There are also bonuses for the academic performance of players on the team starting with $25,000 for meeting the NCAA's APR standard of .925 to $75,000 for a perfect APR of 1.000.
Barbee's buyout of the contract is $1 million prior to June 1 of this year. It drops to $750,000 after June 1 and before June 1, 2013. The buyout drops to $500,000 the following year and then to $250,000 for the final years on his contract.
As part of his buyout to leave UTEP to take the Auburn job, Auburn loaded him $233,602. Auburn is reducing the amount of the loan annually all the way to zero if the coach stays through the entire length of his contract. The first $30,193 he owes the university has already been eliminated.
Asked about the length of time between signing his letter of employment and formalizing the contract, Barbee said, "As part of negotiations things don't always go as quickly as you want them to go--either side," he said. "That is just part of it. Auburn had committed to me and I had committed to them so whether I had a signed contract or not was not a big deal.
"Everybody else was making a big deal of it--I don't know. I never focused on it. I am focused on coaching this team and running this program."
Barbee said with attorneys involved it took a long time to work out the details of the contracts, but noted that isn't a big deal to him. "I am not concerned about it. I love it here at Auburn. I have a great relationship with Jay (athletic director Jay Jacobs). My family loves it here at Auburn."
Barbee said his goal is to build the program to the point where the Tigers will be consistently good on an annual basis. "I think Auburn University is not only a place where you can build a championship team, you can build a championship program, which means you can sustain it over a long period of time," Barbee said. "I hope to be here for a long period of time because this is a special place. Now I have to continue my job of making this a special program."