"I am sure that if things went right Randy Lerner and I would sit down and talk about that.
"If you win a couple of games you can look at life rosily for a day or two. It doesn't mean if you then lose a host of games you are safe.
"Insecurity has never bothered me. It is something that I actually quite like. If you signed five or ten years it would just be a lot more messy. It doesn't really matter."
O'Neill added: "I have a commitment to the football club and I think the thing Randy Lerner has gone with me is my past record.
"I had five years at Wycombe, five years at Leicester and five years at Celtic, interspersed with six months at Norwich.
"I want to be part of the success we can achieve here. I signed a rolling contract with Doug Ellis before Randy Lerner came here and I am happy with that.
"I am well paid to do the job. If the job goes belly up what is the difference if I have a four or five-year contract?"