The deal had been agreed upon in January. Fresno State announced Thursday it had been finalized and signed.
DeRuyter's base salary for 2014 will be $1.4 million, not including performance bonuses, and will automatically increase by $500,000 every season.
If DeRuyter leaves Fresno State after the 2014 season, he would owe the school $2.8 million. The buyout drops to $1.4 after the 2015 season, $1 million after 2016 and $700,000 after 2017.
DeRuyter is 20-6 in two seasons with Fresno State, including two Mountain West Conference titles. The 51-year-old coach was the defensive coordinator at Texas A&M before taking over at Fresno State in 2012.