The 40-year-old former Fulham, Real Sociedad and Coventry manager has signed a one-year deal with the Thessaly club with the option to renew it for another two seasons.
The Welshman is scheduled to arrive in Greece on Monday to begin his new role.
According to Greek media reports, Coleman will earn 120,000 euros and will receive a 100,000-euros bonus if the relegated club can win promotion in his first season in charge.
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