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re: Can some legal lawyer look at the buyout clauses
Posted on 11/22/09 at 11:01 am to Tiger Phil
Posted on 11/22/09 at 11:01 am to Tiger Phil
quote:
Where did we get $18M?
I have no idea where that came from but in the extension, it sets the maximum damages he could collect at $15 million. Which basically means if he was fired without cause the day afte he signed the extentsion and the outstanding value of the contract was $18 million, he could only collect $15 million.
Posted on 11/22/09 at 11:05 am to Brendoni
quote:
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 think any coach worth a damn would see what happened yesterday compounded by poor coaching ontop of poor coaching and know that it was justified.
Posted on 11/22/09 at 11:10 am to prplhze2000
if Miles were terminated without cause, the balance of his contract is paid out over the remaining months in his contract X 2. In other words, if he has three years remaining, the length of time LSU has to pay him is doubled to six years.
During that time, he has to be actively seeking to secure a new position and must report that activity to the university. He wouldn't be able to bullshite and not seek a new job or the contract terms would be null and void.
Also, once he secures a new position, if it were, say, at a rate of pay less than what LSU pays him, LSU would still continue to pay Miles the difference between the two contracts. However, if it is for more than LSU pays him, he would have to pay back a portion of what LSU has paid him.
All-in-all, neither Miles nor LSU would be hurt too bad, although, for the life of me, I can never see Les Miles coaching a credible big-time major college program again at this rate of pay, thus his ability to gain credible employment may impact his income down the road.
During that time, he has to be actively seeking to secure a new position and must report that activity to the university. He wouldn't be able to bullshite and not seek a new job or the contract terms would be null and void.
Also, once he secures a new position, if it were, say, at a rate of pay less than what LSU pays him, LSU would still continue to pay Miles the difference between the two contracts. However, if it is for more than LSU pays him, he would have to pay back a portion of what LSU has paid him.
All-in-all, neither Miles nor LSU would be hurt too bad, although, for the life of me, I can never see Les Miles coaching a credible big-time major college program again at this rate of pay, thus his ability to gain credible employment may impact his income down the road.
Posted on 11/22/09 at 11:10 am to Martavius
quote:
LSU could for instance, offer him say $2.5-$3 million in a lump sum and allow him to immediately seek other employment.
give him a take it or leave it option. Either take this option or be removed from all coaching duties and have to report to facility services monday morning. If he chooses the later make that fricker scrub toilets for the remainder of his contract.
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