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Started By
Message
Does Miles still get 15 mil if he takes another HC job?
Posted on 11/27/15 at 7:03 am
Posted on 11/27/15 at 7:03 am
I know this has probably been answered here before.
5
Posted on 11/27/15 at 7:16 am to GeauxZone90
This post was edited on 11/27/15 at 7:34 am
Posted on 11/27/15 at 7:27 am to GeauxZone90
His new contract is subtracted from the $15.
Posted on 11/27/15 at 8:04 am to GeauxZone90
Signs point to yes, but not necessarily all from lsu. If he takes another job that salary will be deducted from buyout. But between buyout and new salary, yes he should still get the 15 million (spread out over several years)
Posted on 11/27/15 at 8:29 am to GeauxZone90
No. He has to try to find a job and it reduces the payout. Anytime over the next 8 years.
Posted on 11/27/15 at 8:32 am to SBC
quote:
No. He has to try to find a job and it reduces the payout. Anytime over the next 8 years.
This. THere was a thread that posted the details of the contract, do not remember the title. Also, what happens if Les "does not look" for another job. Who makes the call if he is actually seeking out employment?
Posted on 11/27/15 at 8:43 am to Major Dutch Schaefer
Here's the contract people have been quoting. LINK
Posted on 11/27/15 at 9:47 am to GeauxZone90
The whole point of contract law is to restore the injured party to how they would've been had the breach not occurred.
He has to use good faith in trying to get another job and then the buyout is reduced by whatever that job pays him. He can't get the buyout if he just sits on his arse for 8 years.
We breached by firing him early, so our main obligation is compensating to the amount he would be making if he stayed at LSU.
He has to use good faith in trying to get another job and then the buyout is reduced by whatever that job pays him. He can't get the buyout if he just sits on his arse for 8 years.
We breached by firing him early, so our main obligation is compensating to the amount he would be making if he stayed at LSU.
Posted on 11/27/15 at 1:09 pm to Dixie Normus
have to subtract the $4.3 Million he made year to date. He gets the remaining $10.7 million over double the remains term, which is four years remaining. So amortize buyout over 8 years at $1.3 Million per year. If he gets a even if he gets "related" job say $400,000 from SEC Network. LSU will pay him $900,000 for 8 years.
My bet is they agree to let him "retire" and give him $5 Million lump some and he can do what he wants.
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