Actual Buyout Amount for 2017 is not $12M, but is $12M less the $3.5M already paid

I've reviewed Coach O's contract. For clarification, I am and have been a practicing attorney for over 32 years. I draft and review employment contracts for employers and employees, including some in the sports world.

While I think that $12M of liquidated damages is still insane, I am a little relieved that the actual buyout amount due prior to December 31, 2017 is $12M minus what Coach O has been paid or will have been paid this year (2017). Assuming no incentive bonuses for 2017, the actually buyout on or before December 31, 2017 is only around $8.5M (calculated as $12M - $3.5 paid in 2017 = $8.5M). The same thing happens next year, in that the buyout starting January 1, 2018 is $8.5M minus whatever he is paid in 2018 for salary. So, if he is employed and terminated on December 1, 2018, his buyout would only be around $5M ($8.5M - $3.5 paid in 2018 = $5M). The best time to fire him would be in December of 2018. I refer you to Article 11(B)(ii) on pages 21 and 22 of Coach O's contract.

Just thought I would clear up some issues on his contract.