On April 8, 2010, Stevens signed a long-term deal with Butler, extending his contract through the 2021–22 season. Financial terms of the contract were not disclosed; however, Butler president Bobby Fong had publicly stated that the university could afford to increase Stevens' base salary to approximately US $1,000,000 a few days prior. Stevens had previously made US$395,000 plus benefits in base salary, a relatively low figure for a successful Division I head basketball coach. His total compensation for 2009–10 was estimated at US$750,000. Stevens had received a raise after each of his three seasons at Butler and his contract contains a buyout clause estimated in the high six or low seven figures.