The latest update to Lloyd Carr’s contract includes a change in language that would make it easier for the University of Michigan football coach to retire from the job after the 2007 season.

Signed by Carr on Dec. 21 of last year, the addendum calls for the school to set up a deferred compensation account worth $300,000 within 15 days of July 1, 2007. Carr will collect his money approximately a year later if he remains employed by Michigan “in any capacity, until July 1, 2008.”

According to the terms of Carr’s contract, he will be appointed an associate athletic director at the university and draw his base salary when he retires as coach.

• Language altered in Carr’s contract