"We are aware results on the field are important, but so is building a structure upon which success can be founded. It is important that we get things right."
Herbert said the new contract meant he could now look ahead with certainty.
"The main thing is the future of the Wellington Phoenix Football Club. That is assured, and we can look ahead and build on what we have achieved over the first four years," Herbert said.
"The vision the owners have for the club is encouraging and I look forward to being a part of making it successful.
"We've had a tough start with injuries and suspensions but we have a good, close-knit bunch of players and I expect them to continue to show the character and determination that has seen the club make the playoffs in the last two seasons."
The Phoenix face a battle to make the playoffs this season after a difficult start to their new campaign.
The financial troubles in the final stages of Serepisos' reign put them on the back foot from the start and the new owners have taken a cautious approach to player signings as they work to ensure the club is stable. That has all been compounded by a number of injuries and suspensions.
The Phoenix have a monumental task on Sunday when they take on defending A-League champions the Roar in Brisbane.