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The buyout should have been $3.25 mm in total
Posted on: February 23, 2024 at 09:52:46 CT
doughboy MU
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Per the terms of her contract here are the components of the buyout:
Base salary - $900k/year - $75k/month x 52 months x 50% = $1.95mm
Deferred comp - $250k/year - $21k/month x 52 months x 50% = $542k
Non-salary comp - $350k/year - $29k/month x 52 months x 50% = $758k
All total that's $3.25mm, the number that Hoff's story and UA are claiming as the buyout figure is $2.5mm. The only way to get to that number is by making a concession, that has to be the deferred comp line item.
Term 6B of Amendment 1 lays out what the buyout should contain: https://mutigers.com/documents/2023/8/11/Reed-Francois_-_First_Amendment_.pdf
Base salary - $900k/year - $75k/month x 52 months x 50% = $1.95mm
Deferred comp - $250k/year - $21k/month x 52 months x 50% = $542k
Non-salary comp - $350k/year - $29k/month x 52 months x 50% = $758k
All total that's $3.25mm, the number that Hoff's story and UA are claiming as the buyout figure is $2.5mm. The only way to get to that number is by making a concession, that has to be the deferred comp line item.
Term 6B of Amendment 1 lays out what the buyout should contain: https://mutigers.com/documents/2023/8/11/Reed-Francois_-_First_Amendment_.pdf
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The buyout should have been $3.25 mm in total - doughboy MU - 2/23 09:52:46