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Buyout Question?
Posted on 10/26/25 at 5:50 pm
Posted on 10/26/25 at 5:50 pm
So if we pay him a lump sum, he can take that and go find a new job next week if he should so choose, if we offer some sort of a annual payout than that amount would be reduced or depleted by him finding another job? As we see from the list of candidates, we keep posting they’re just aren’t that many out there and there are a lot of open pretty big jobs. He might be a perfect fit for Penn State.
2
Posted on 10/26/25 at 5:51 pm to Icansee4miles
The contract as it is written is designed to offset with money he's paid by a future employer. We still pay and they would pay what is above that (on an annual basis).
If we negotiate a lump sum, we could in theory pay overall less, and BK could in theory make more overall money, so it can be mutually beneficial.
If we negotiate a lump sum, we could in theory pay overall less, and BK could in theory make more overall money, so it can be mutually beneficial.
This post was edited on 10/26/25 at 5:52 pm
Posted on 10/26/25 at 5:55 pm to Icansee4miles
Smart thing to do would be to agree to a lump sum reduction buyout. Give 25% upfront and quarterly installments over 5-10 years with new hire clause for media or coaching positions. After 3 years the buyout degrades by 25% year over year.
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