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Message
re: JBoy elaborates on LSU offer to Lincoln Riley
Posted on 11/24/21 at 8:31 am to koLSU86
Posted on 11/24/21 at 8:31 am to koLSU86
You have an agreement in principal in terms of salary, bonuses, and expectations from both sides before you ever draft contracts. A contract drafted before those agreements are a complete waste of time and money.
Posted on 11/24/21 at 8:39 am to The First Cut
quote:
You have an agreement in principal in terms of salary, bonuses, and expectations from both sides before you ever draft contracts. A contract drafted before those agreements are a complete waste of time and money.
This is true of course.
There's a guy who posted over on the OU site that he works for the firm that reviewed the document, and confirmed the numbers are substantially the same as the 8/96 info that was reported. I work in the same industry and the way this guy reported the information and the language that he used, I believe him 110%. So for sure the verbal part took place a few months ago, but this thing with Riley has gotten to the point that CPA's and lawyers have been looking at it to advise their clients.
Posted on 11/24/21 at 8:45 am to The First Cut
quote:
You have an agreement in principal in terms of salary, bonuses, and expectations from both sides before you ever draft contracts. A contract drafted before those agreements are a complete waste of time and money.
You can stop explaining it. I understand how it works. I'm just saying......that the deal is not officially done until the paperwork is drafted and signed. You can agree verbally all you want, but until the drafted paperwork matches everything you talked about and it is signed, the deal isn't completed. That's all I'm trying to say. I'm not saying you can't verbally agree to terms, but saying something is done before the contracts have been drafted and signed is incorrect. The fact remains that you can verbally agree to things all you want and still not sign the contract.
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