Hawkins is 11-9 in his third year at Colorado, and the Buffaloes are 3-2 this season. The new contract was announced Tuesday. It takes effect on July 1. Hawkins originally signed a five-year, $4.25 million contract, not including incentives, that was to run through Dec. 31, 2010. Hawkins can earn incentives for making it to the Big 12 championship game, winning league or a national titles, playing in bowl games and being conference or national coach of the year.