AMC
Registered User
Re: UMaine, 2011-2012 season thread, does anyone care anymore?
Right, but let's say that he has three (is it three? I can't even keep track anymore) years left, at $100,000 each (I know its more, but round numbers are easy).
So, you want to fire him. To make sure you don't get sued, you pay him the full $300,000 to go away. Or, you say "Tim, we're going to fire you. Let's meet at a number that you will accept." Most likely, you are going to pay a substantial amount of that $300,000 because Whitehead has no real reason to accept less. There's no chance that the buyout is a golden parachute, why would you even insert that clause in there saying like "$500,000 if we fire you early?" Blake James was the most incompetent person to ever run an NCAA athletic department, but not even he was that incompetent. I'd bet that the buyout clause says something like "You get paid one more year if we let you go early." That means, it's $100,000 instead of $300,000, which is a big difference in money and PR.
I guess, but there is no litigation if the state just pays him the full amount. he has no damages if he is paid in full... the buyout clause MIGHT be... if we decide to smarten up and tell you to take a hike, we pay you 50% of your contract, UNTIL you get paid by another team... or something like that ....
worse yet, the buy out might be a golden parachute, stating that he gets a million dollars if they show him the door prior to 2012
anyway... so how about them bears?
Right, but let's say that he has three (is it three? I can't even keep track anymore) years left, at $100,000 each (I know its more, but round numbers are easy).
So, you want to fire him. To make sure you don't get sued, you pay him the full $300,000 to go away. Or, you say "Tim, we're going to fire you. Let's meet at a number that you will accept." Most likely, you are going to pay a substantial amount of that $300,000 because Whitehead has no real reason to accept less. There's no chance that the buyout is a golden parachute, why would you even insert that clause in there saying like "$500,000 if we fire you early?" Blake James was the most incompetent person to ever run an NCAA athletic department, but not even he was that incompetent. I'd bet that the buyout clause says something like "You get paid one more year if we let you go early." That means, it's $100,000 instead of $300,000, which is a big difference in money and PR.