Barbee's $1.5 million deal is worth close to twice what former Auburn coach Jeff Lebo was being paid when he was fired following the SEC Tournament.
The new Auburn coach's salary will come from a base salary of $225,000 per year and $1,275,000 for endorsements, radio, TV and internet rights, fundraising and personal appearances representing the university.
Auburn Athletic Director Jay Jacobs said that the coach will be able to earn additional money in bonuses based on academic and athletic performances by his team.
Another perk is the use of two automobiles or a car allowance equal to five percent of his base salary.
In a letter of agreement with Barbee to take over the Auburn program, Jacobs wrote, "You will be responsible for assembling a coaching staff subject to approval by Auburn.
"You will be responsible for operating the men's basketball program in accordance with Auburn, SEC and NCAA rules and bylaws and within the budget established by Auburn. One of our primary goals is to have our student-athletes graduate with an undergraduate degree, and you will support our student-athletes in their efforts.
"We will work together in a timely and cooperative manner to agree upon the remaining terms set forth in the contract to be executed," Jacobs added.
Barbee, who agreed to become Auburn's coach on Wednesday, will be introduced at a press conference at the new Auburn Arena on Thursday.