From the way I understand it he has to continue looking for a job to be eligible for the buyout and if he does land a job PSU only owes him the difference in what his new earning is and 8.5 million. IE if he signs a contract for 5 million with someone else PSU owes 3.5 million per year.
Seems fair.
Looks like UCLA, NW and the Big10 Referees got him 🙂 Of course as he noted several times 'I take full responsibility'.
PSUJoe, Thank you for the information. I am hopeful that the negotiations resulted in a fair agreement for all involved.From the way I understand it he has to continue looking for a job to be eligible for the buyout and if he does land a job PSU only owes him the difference in what his new earning is and 8.5 million. IE if he signs a contract for 5 million with someone else PSU owes 3.5 million per year.
PSUJoe, Thank you for the information. I am hopeful that the negotiations resulted in a fair agreement for all involved.From the way I understand it he has to continue looking for a job to be eligible for the buyout and if he does land a job PSU only owes him the difference in what his new earning is and 8.5 million. IE if he signs a contract for 5 million with someone else PSU owes 3.5 million per year.
That’s what I was told but am not sure if it’s 100% correct. Figured I’d throw it out there and see if anyone disputes it.
No worries if it isn't entirely correct. At the very least, it was a perspective that provided information for further thought.
@psujoe Now we've read it on the internet, it's gotta be true!
I don't know if it's true or not Homer but at the very least it sounds reasonable...
