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$$$ and more $$$ to not resign
Posted on: December 31, 2016 at 09:21:09 CT
ScottsdaleTiger MU
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Anderson's advisors will point out to him that:
1. Basic black letter labor law is if an employee has a contract and is fired for a reason other than cause (clearly not winning enough is not cause in Anderson's contract), he is entitled to be paid the total amount due him under his contract.
2. Anderson (reportedly) has a five year deal for 1.1 million a year guaranteed money. If that's the case, he's got a claim to the mney for his compensation for the last half of his salary if he's fired. That could be as much as 2.75 million.
3. Therefore, it's to Anderson's financial advantage to soldier on and let Mizzou fire him and then make his claim for the balance due under his contract.
4. Alternatively, since Mizzou's staff is well aware that Anderson has a claim, if Mizzou wants to terminate Anderson, it will seek to reach a "settlement" with him, i.e. pay him the present value of 2.75 million over the next two and half years. That's almost certainly over 2.0 million.
5. Andserson has undoubtedly been well compensated in his various jobs over the years, but almost certainly he's never earned anything close to the 1.1 million guaranteed under his Mizzou deal. A settlement in the range of 2.0 million dollars assures him of financial security the rest of his life and it's enough to insure he can provide some financial security for his family going forward.
6. So if you're Anderson's advisor, you tell him to soldier on. First, things might turn around, which is what Anderson probably really wants. Second, if they don't, soldiering on helps to assure that he will walk away with financial security for the rest of his life and perhaps some for his family.
1. Basic black letter labor law is if an employee has a contract and is fired for a reason other than cause (clearly not winning enough is not cause in Anderson's contract), he is entitled to be paid the total amount due him under his contract.
2. Anderson (reportedly) has a five year deal for 1.1 million a year guaranteed money. If that's the case, he's got a claim to the mney for his compensation for the last half of his salary if he's fired. That could be as much as 2.75 million.
3. Therefore, it's to Anderson's financial advantage to soldier on and let Mizzou fire him and then make his claim for the balance due under his contract.
4. Alternatively, since Mizzou's staff is well aware that Anderson has a claim, if Mizzou wants to terminate Anderson, it will seek to reach a "settlement" with him, i.e. pay him the present value of 2.75 million over the next two and half years. That's almost certainly over 2.0 million.
5. Andserson has undoubtedly been well compensated in his various jobs over the years, but almost certainly he's never earned anything close to the 1.1 million guaranteed under his Mizzou deal. A settlement in the range of 2.0 million dollars assures him of financial security the rest of his life and it's enough to insure he can provide some financial security for his family going forward.
6. So if you're Anderson's advisor, you tell him to soldier on. First, things might turn around, which is what Anderson probably really wants. Second, if they don't, soldiering on helps to assure that he will walk away with financial security for the rest of his life and perhaps some for his family.
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$$$ and more $$$ to not resign - ScottsdaleTiger MU - 12/31 09:21:09