Recent reports have claimed that the Spaniard could be relieved of his duties at the end of the season, and he has hinted that the club do have the option to release him from his deal after the final game of the campaign.
"Of course we can bring the talks forward when we are safe," Mel told reporters. "We can talk about the situation on Monday if we are safe.
"My contract finishes after the Stoke City match and then we will have the meeting for the future.
"It is an open contract. It's not closed, the contract. It's easy to understand; if Pepe Mel says yes and West Brom say yes, no problem."
The Baggies travel to the Emirates Stadium to face Arsenal on Sunday afternoon.