Freeze was hired last December and signed an incentive-laden contract that included a $1.5 million base salary. His new contract lasts through 2016 and includes a $100,000 bonus per Southeastern Conference win, beginning with the second victory of the season.
The Rebels improved quickly under Freeze, ending a 2-year postseason absence by finishing with a 6-6 record. Ole Miss plays Pittsburgh in the BBVA Compass Bowl on Jan. 5.
Ole Miss also announced a $12.5 million upgrade to the school's practice facility. Additionally, the salary pool for Freeze's assistants will increase by 10 percent.