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LSU coach Ed Orgeron acknowledges the fans as the Tigers walk down Victory Hill before LSU's game against Rice in Tiger Stadium on Saturday Nov. 17, 2018, in Baton Rouge.

A two-year, $4 million extension for LSU head coach Ed Orgeron is on the agenda to be approved by LSU Board of Supervisors on Wednesday, according to documents the university released Monday.

The board meets on Wednesday at 9 a.m.

Orgeron is two seasons into his current contract, which is set to expire on Dec. 31, 2021, in which he is making $3.5 million per year — a figure that ranked 36th nationally among FBS head coaches, according to USA Today, and 10th among head coaches in the Southeastern Conference.

The new figure would rank Orgeron 24th nationally, tied with Virginia Tech head coach Justin Fuente, and it would rank eighth in the SEC.

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The proposed contract includes nearly $2 million in incentives, and it would bump his buyout to $10 million in the first year. The buyout would decrease by $250,000 each month until it decreased to a flat $4 million on Feb. 28, 2021.

Orgeron's buyout is currently about $5.5 million, and it will decrease gradually to $4.5 million in 2020.

The proposed contract has also increased the stakes for Orgeron to lead LSU toward national championship contention.

In his current contract, if LSU wins 10 games in the regular season, Orgeron receives a $100,000 bonus; for 11 wins, a $150,000 bonus; for 12 wins a $200,000 bonus.

In the proposed contract, Orgeron will receive a $250,000 bonus for 10 regular season wins, $350,000 for 11 wins, $500,000 for 12 wins.

Orgeron would also receive a $250,000 bonus if LSU reached the College Football Playoff Semifinals. His current contract would pay him a $150,000 bonus. All other post-season incentives would remain the same.

Contracts for new passing game coordinator Joe Brady and safeties coach Bill Busch must also meet board approval on Wednesday, according to documents.

Brady has a proposed three-year, $400,000 contract on the agenda, and Busch is set to receive a 13 percent raise to a $425,000 per year contract that would expire on March 31, 2022.

The new contract comes just months after the LSU Tigers football team concluded its first 10-win season since 2013 with a Fiesta Bowl victory over Central Florida.

Orgeron is 25-9 since taking over LSU as the interim coach, four games into the 2016 season. He first signed a five-year deal at the end of the 2016 season when he was hired to replace former coach Les Miles, who was fired after a 2-2 start.

Talks of an extension for Orgeron started to brew following the end of the regular season, and sources familiar with the situation told The Advocate on Jan. 30 that LSU and Orgeron were working on details for a new contract.

The new contract comes at a time where the football program, according to Orgeron, is "much further ahead than we've ever been."

LSU finished No. 6 in the final AP polls (its highest finish since finishing No. 2 as national runners-up in 2011), which will likely vault the Tigers into the Top 10 to start the 2019 season.

The program also had low coaching turnover — just one replacement with new passing game coordinator Joe Brady filling in for Jerry Sullivan, who retired in January.

The Tigers have 16 starters returning (8 offense, 8 defense), including quarterback Joe Burrow, who was named the offensive MVP of the Fiesta Bowl. Paired with a 2019 recruiting haul that ranked No. 5 nationally, including top cornerback prospect Derek Stingley, who enrolled early and practiced before the Fiesta Bowl, the Tigers have more promise than concern this spring.