The priority for joint-chairmen David Sullivan and David Gold is simple – to climb away from relegation trouble – and Moyes’ future will then be evaluated at the end of the season.
“We’ve done a contract which suits both parties, we are all comfortable with it,” Moyes, 54, told talkSPORT. “Let’s get the job done and then talk at the end of the year.”
Moyes’ appointment has not gone down well with sections of the West Ham fans, mindful that his previous job saw Sunderland relegated last season.
He also endured disappointing spells with Manchester United and Real Sociedad. Yet his successful 11-year stint at Everton has persuaded Sullivan and Gold that he is the man to turn their season around.
“I’m thrilled to be back in the game and looking forward to getting started,” added Moyes.
“The job is to get wins and get ourselves up the league. I’m a football supporter, everyone has opinions, and everyone is entitled to that. But I think my record stands up against most.
“I’ve managed five clubs and only the recent one was the wrong choice by me. Hopefully I can show what I’m really about. I’ve probably got one of the best win records in the Premier League. The job now is to win games.”
Former Hammers defender Stuart Pearce has been linked with a coaching role at the club, as has Moyes’ No 2 at Everton, Alan Irvine.
Moyes would not name names but said: “I want a couple more people in, people I have worked with and people who can tell me how this club works. My message to the fans is just support the players and staff, we are all here to get West Ham in the correct position up the table.”
Sullivan and Gold put Bilic out of his misery on Monday morning in the aftermath of West Ham’s 4-1 home defeat by Liverpool which left them in the bottom three.
“We need somebody with experience, knowledge of the Premier League and the players in it, and we believe David is the right man to turn things around and get the best out of the players at the club,” Sullivan said.
It could be a difficult introduction for Moyes, not even counting West Ham’s problems on the field.
One of his first tasks might be to get Javier Hernandez on his side. Moyes largely froze out the Mexico striker during his time at Old Trafford, with Hernandez since accusing the Scottish coach of “not taking me into account”.
Then there’s his working relationship with managing director Karren Brady, who spoke out after Moyes was caught on microphone in April telling a female reporter that she “might get a slap” for the questions she asked during an interview.
“If it’s wrong to be a bit racist, it’s also wrong to be a bit sexist,” Brady said at the time.