The Shrimpers claimed a thrilling penalty shoot-out win over Wycombe Wanderers at Wembley to win promotion and Brown has been rewarded with a new deal which includes an innovative share option.
“It’s the clauses in the contract that have taken a while to sort out and one of them will see me become a shareholder in the football club,” Brown told the Evening Echo.
“We’ve had to work that out and it’s something the League Manager’s Association said they have never seen before.
“They think it’s very innovative of the chairman because it’s a clause which will reward a manager for success.
“I do also think it’s a great time to be investing in Southend United due to us having won promotion and with the plans for the new stadium so it’s something I’m happy about.
“And I also expect to sign the contract this week.”
Chairman Ron Martin said: “It’s an innovative deal but it’s incentive-based and will reward continuity which I think is important.
“Phil will be able to cash the shares in and sell them to me when he leaves the football club and the better he does the more money he will get back.”