re: According to Guilbeau, buy out is half of what is believed?

Now we have a sports writer practicing law. How pathetic!

I've been practicing contract law for over 30 years. The liquidated damages clause and the contract are very clear.

Macavity92's reading is spot on. Don't know if he is an attorney or not, but he explains it pretty well.

Compensation paid during the year of termination and the additional buyout due must equal the amount set forth in Section 13.A.ii. I don't know how Miles is paid or when he is paid (semi-monthly, monthly, quarterly, etc.), but, assuming that he had already received or will receive his full compensation for 2016, prior to any termination, he would be due $12,900,000 minus any compensation already paid in 2016. If he is terminated after 1/1/2017, he would get $12,900,000 (assuming he had not been paid anything in 2017 yet). The key date is when the notice of termination is given. The termination date is set forth in the notice, but the notice of termination date determines which liquidated damages clause applies.

Interesting to note, if termination occurs in 2016, the liquidated damages amount due is paid over 6 years (twice the period of time remaining (would be 3 years) on the term of the Agreement), per Section 13.A.iii. In addition, as standard in most contracts, there is a mitigation of damages section (Section 13.A.iii) in which Miles is required, in good faith, to seek similar or related employment and that compensation received offsets against the buyout amount.

That is why most coaches try to settle upon termination of employment. If Miles doesn't get another job, LSU could argue that the buyout is reduced because of his default under this clause. If Miles settles with LSU, he can normally get any job that he wants and that salary is not offset against the settlement.

No charge for my services today.

Martin posted while I was posting, but I agree with his analysis as well.