Dundee are sticking with manager Jim Duffy despite the club dropping down to Division One.
The financially-stricken Dens Park club were relegated on the final day of the season but Duffy will honour the remaining year of his contract.
And Duffy has agreed to "a substantial cut in wages" as he leads the bid for an immediate return to the top flight.
"I am delighted that the directors wanted me to stay and it is important that I had their backing," said Duffy.
A number of first-team players have already been released by Dundee and other deals may have to be renegotiated.
"I always said I wanted to stay but I am pleased to get everything sorted with all the other aspects of the club," added Duffy.
"Now we have to look forward and hopefully the club will be able to bounce back.
"The club have been through a lot over the last week. We have seen the harsh realities of losing our SPL status but there are real signs of togetherness about us.
"Everyone needs a holiday to put the disappointment behind us but we'll come back in a few weeks time and look forward."