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North Carolina coach Hubert Davis will collect a $100,000 bonus for reaching the NCAA Tournament after the Tar Heels snuck into the field as the final at-large team with just one Quad 1 victory. UNC will take on fellow No. 11 seed San Diego State in the First Four on Tuesday in Dayton.

Had UAB defeated Memphis in the AAC Tournament title game on Sunday, the Blazers would have secured an automatic bid and knocked the Tar Heels out of the field.

The No. 11 seed is North Carolina's worst in program history, and this marks UNC's first trip to the First Four. But for the sake of Davis' contract, a First Four appearance counts as an NCAA Tournament appearance, even if the Tar Heels lose Tuesday and don't reach the first round.

If North Carolina beats San Diego State, it could be well-positioned to do some damage as a sleeper in the South region. The Tar Heels would play No. 6 seed Ole Miss in the first round as the Rebels make their first NCAA Tournament appearance since 2019. Then, a matchup with No. 3 seed Iowa State could await in the second round. The Cyclones announced shortly after Sunday's selection show on CBS that star guard Keshon Gilbert won't be available for the Big Dance. 

Davis would receive an additional $100,000 bonus for reaching the second round and a $150,000 bonus if UNC makes the Sweet 16.

UNC and Davis agreed to a contract extension that was made public on Feb. 25. The sides agreed on the new deal in July, but it wasn't signed until five months later in December. 

Davis' new deal covers six seasons, including this one currently, and is worth $7.5 million in total base salary and $11.7 million in total supplemental pay. That adds up to $19.2 million in total compensation, not including available bonuses across the lifetime of the contract, which runs through June 2030 — or an average of $3.2 million per year in total compensation.

This new deal boosts Davis' total base salary by $5.1 million (or $850,000 per year) and total supplemental pay by $2.2 million. That works out to a raise of $7.3 million in total compensation for the Davis, as compared to his previous contract signed in July 2022, when UNC was coming off the magical run to the Final Four and NCAA championship game that capped his first season on the job.

Davis' base salary is $1.25 million per year on this new deal. A buyout move by the Tar Heels at any point before the contract expires would require the school to pay Davis whatever base salary he has remaining, or $1.25 million multiplied by the number of years left on the deal.

Standard performance bonuses are part of the new contract. Davis will collect an additional $50,000 if UNC wins a conference regular-season title and also $50,000 for a conference tournament title. He will receive a bonus of $100,000 for an NCAA Tournament appearance, and another $100,000 if the Tar Heels get to the Round of 32. He picks up a bonus of $150,000 if UNC makes the Sweet 16, a bonus of $200,000 if the Tar Heels advance to the Elite Eight, and a bonus $200,000 if they reach the Final Four. He earns a bonus of $250,000 if UNC claims the NCAA championship.