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Started By
Message
How Much Do We Owe Les if He Takes a Job?
Posted on 11/23/16 at 1:19 pm
Posted on 11/23/16 at 1:19 pm
Are we off the hook for the buyout, or does it get reduced/prorated?
Please and thank you.
Please and thank you.
2
Posted on 11/23/16 at 1:20 pm to elprez00
Bout tree fiddy
Posted on 11/23/16 at 1:23 pm to elprez00
quote:
reduced/prorated?
by the amount of his new contract AND that contract MUST be a fair market. He CANNOT take a job "for $1 per year" and only use the LSU mony, for example.
Posted on 11/23/16 at 1:24 pm to MNCscripper
From what I've heard is current pay would offset the money we owe. We currently owe him 9.7 million over 6 year/6 months. So that's 1.46 million a year. I think if Purdue pays him more, we are out a big chunk if not all.
But someone else can clarify better than me.
But someone else can clarify better than me.
This post was edited on 11/23/16 at 1:26 pm
Posted on 11/23/16 at 1:26 pm to MadtownTiger
Thanks Madtown and BHP. 
Posted on 11/23/16 at 1:33 pm to MadtownTiger
quote:
From what I've heard is current pay would offset the money we owe. We currently owe him 9.7 million over 6 year/6 months. So that's 1.46 million a year. I think if Purdue pays him more, we are out a big chunk if not all.
This. If Purdue pays him at least 1.46MM/year, we won't owe him anything unless he quits or is fired before the 6 years.
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