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Started By
Message
Can some legal lawyer look at the buyout clauses
Posted on 11/22/09 at 10:33 am
Posted on 11/22/09 at 10:33 am
In Les' current contract and tell us definitively what the buyout is to fire him?
6
Posted on 11/22/09 at 10:34 am to Tiger Phil
quote:is there another kind?
legal lawyer
Posted on 11/22/09 at 10:35 am to Tiger Phil
EMBARASSING the university
Posted on 11/22/09 at 10:35 am to Tiger Phil
EMBARASSING the university
Posted on 11/22/09 at 10:36 am to Tiger Phil
it's not a buyout. people misuse the term
unless we can fire miles for cause, he is guaranteed the remaining money on his contract, which is somewhere around $18M
a BUYOUT is what miles has to pay if he takes another job
miles doesn't have a BUYOUT, unless he goes to Michigan (and it's like $1.25M)
unless we can fire miles for cause, he is guaranteed the remaining money on his contract, which is somewhere around $18M
a BUYOUT is what miles has to pay if he takes another job
miles doesn't have a BUYOUT, unless he goes to Michigan (and it's like $1.25M)
Posted on 11/22/09 at 10:36 am to Tiger Phil
If he's fired without cause, he's owed $1.825 million for every year remaining on his contract which currently runs through 2012.
Page 16 of the linked PDF LINK
Page 16 of the linked PDF LINK
This post was edited on 11/22/09 at 10:39 am
Posted on 11/22/09 at 10:36 am to FrisceauxTiger
quote:
legal lawyer
is there another kind?
Well, at this particular moment, E Eric is and "illegal lawyer", I guess...
Posted on 11/22/09 at 10:38 am to Martavius
cause is hes stupid
Posted on 11/22/09 at 10:38 am to SlowFlowPro
quote:
SlowFlowPro
is sucking at your job "cause"?
Posted on 11/22/09 at 10:40 am to ulmtiger
I practiced law in Louisiana for over 20 years and I have not been able to get a full copy of the contract. As I have posted in other threads, I do know there is definitely a "termination for justifiable cause" clause in that contract of which I did read. What is "justifiable cause" is the question and if there are not several delineations of what Justifiable cause is in that contract, then LSU could certainly test the waters and let a judge or jury decide, because if you fire for justifiable cause , the damages or so-called buyout clause does not have to be paid. I would argue that the fiasco last night was justifiable cause and I truly believe that a judge or jury with any ounce of knowledge of football might just agree. 
Posted on 11/22/09 at 10:40 am to SlowFlowPro
What would be an example of 'cause'? I assume firing him without cause would be firing him just for the hell of it...?
Posted on 11/22/09 at 10:42 am to 2BITS4BITS
I sure saw a lot of cause for firing Les last night.
Being a moron and then lying about it afterwards.
Being a moron and then lying about it afterwards.
Posted on 11/22/09 at 10:44 am to Martavius
quote:
If he's fired without cause, he's owed $1.825 million for every year remaining on his contract which currently runs through 2012.
yep, i don't think the money is that big of a deal. say les gets fired tommorow (won't happen, just sayin) LSU could get a Brian Kelly, Harbaugh (sp), ect for $2 million per and pay Miles buyout at $1.85 million per year. Les Makes $3.7 now so it's not much different. had he won 10+ games in the regular season he would have gotten a raise and probably made more than $3.85 per year. the thing is, how in the hell can you get a guy like Harbaugh, Kelly, ect if you fire a coach two years removed from winning a national championship? i don't think you can, next year things will probably be different.
This post was edited on 11/22/09 at 10:46 am
Posted on 11/22/09 at 10:44 am to Tiger Phil
would love to see the contract. link?
Posted on 11/22/09 at 10:46 am to prplhze2000
It's linked in my post earlier in the thread.
This post was edited on 11/22/09 at 10:47 am
Posted on 11/22/09 at 10:50 am to Brendoni
quote:
yep, i don't think the money is that big of a deal. say les gets fired tommorow (won't happen, just sayin) LSU could get a Brian Kelly, Harbaugh (sp), ect for $2 million per and pay Miles buyout at $1.85 million per year. Les Makes $3.7 now so it's not much different.
It's not unheard of to negotiate a lower settlement. For instance, if they go by the terms of the contract that's probably $1.825mm per year through 2012 and if he takes another job in that time he may lose some of that.
LSU could for instance, offer him say $2.5-$3 million in a lump sum and allow him to immediately seek other employment.
This post was edited on 11/22/09 at 10:51 am
Posted on 11/22/09 at 10:52 am to Martavius
thanks. was replying to the first message in thread.
Posted on 11/22/09 at 10:54 am to Martavius
quote:
If he's fired without cause, he's owed $1.825 million for every year remaining on his contract which currently runs through 2012.
Page 16 of the linked PDF LINK
so we would then owe him $5.475M. 3 years remaining. Where did we get $18M?
Posted on 11/22/09 at 10:59 am to windhammontanatigers
quote:
I would argue that the fiasco last night was justifiable cause and I truly believe that a judge or jury with any ounce of knowledge of football might just agree.
Where would this trial take place? I can't see a Louisiana Judge or Jury ruling against LSU.
Posted on 11/22/09 at 10:59 am to Tiger Phil
might be 18 million BUT its not a one-time lump sum. He simply sits at home and gets paid for the remainder o the contract.
and it says it "shall not exceed $15 million"
and it says it "shall not exceed $15 million"
This post was edited on 11/22/09 at 11:01 am
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