Gen. Wade’s term sheet details: 7 yr/$30m. Will NOT REPORT DIRECTLY TO VERGE

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Wade’s deal will pay him $4 million in the first year of the deal and will increase by $100,000 until he makes $4.5 million in each of the final two years of his deal.

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The term sheet also states that Wade will report directly to former McNeese State athletic director Heath Schroyer

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Additionally, Wade will be paid $50,000 if he gets LSU to the NCAA Tournament and $100,000 if LSU reaches the Round of 32. He will receive $300,000 if the Tigers reach the Final Four and $800,000 if they win the national championship.

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He will be paid 75% of his remaining salary if LSU fires him without cause. That includes a “duty to mitigate” clause that would require Wade to seek “other basketball or athletics-related employment” for him to receive his payments from the school if his deal were terminated without cause.

His buyout, if he took another head coaching job on or before April 1, 2027, is $5 million. That number decreases by $1 million each year before hitting zero on April 2, 2032. Fifty percent of his buyout would have to be paid within 30 days of his LSU contract getting terminated, while the remaining 50% would need to be paid within a year.

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