From ESPN.com:

Mike Leach and Texas Tech resolved their differences Thursday by coming to terms on a new five-year contract worth $12.7 million, a school official told ESPN.com's Mark Schlabach.

Leach, who has taken the Red Raiders to a bowl game in each of his nine seasons as head coach, and the administration settled their dispute over various clauses in Leach's initial contract proposal. It was not immediately clear how those issues were addressed.