Thorn said the Nets picked up the contract option of Frank, who became interim coach in January.
After Frank replaced the fired Byron Scott, the Nets won 13 straight games, finished 47-35 overall and won their third consecutive Atlantic Division title. They lost in the playoffs to the Detroit Pistons, the eventual NBA champion.
"Lawrence did an excellent job under very difficult circumstances," said Nets Thorn said. "The team responded very well to his coaching."
Frank, a 1992 Indiana graduate, spent four years as a student manager working for Coach Bob Knight. Before joining the Nets, he spent three years as an assistant with the
Vancouver Grizzlies. He also served as an assistant coach at Marquette and Tennessee.