James Franklin stood tall in Indianapolis last December as the unlikely champion of the Big Ten, and Penn State has rewarded him for it handsomely.

Penn State approved a six-year contract extension worth $5.8 million per year for the fourth-year head coach, according to Sports Illustrated's Bruce Feldman. That deal includes a $2 million buyout for the 2017 season.

That figure, according to the USA Today coaching salary database, places Franklin as the fourth-highest paid head coach in the country behind Michigan's Jim Harbaugh, Alabama's Nick Saban and Ohio State's Urban Meyer.

Franklin is 25-15 at Penn State after taking over for Bill O'Brien amidst NCAA sanctions.