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Cost of firing Odom
Posted on: November 3, 2019 at 12:57:08 CT
ScottsdaleTiger MU
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In December 2019, Mizzou increased Odom's annual salary to $3.05 million and extended his contract thru the 2024 season.
Assuming Odom is employed on a calendar year basis and there's no liquidated damages provision in the contract that comes into play in the event of termination, Mizzou would be looking at paying Odom $15.25 million over balance of the contract's term. The general rule is if Odom becomes employed during the balance of the contract's term, his compensation in his new positon would offset the $15.25 million. I.e. if he takes a defensive cordinator job at 600K and is paid $3 millon over the remaining contract period, Mizzou's liabiilty would be reduced to $12.25 million.
FWIW: the media stories reporting the raise to 3.05 million and the extension through the 2024 season state that the raise made Odom the next to lowest paid SEC head football coach.
Edited by ScottsdaleTiger at 13:00:04 on 11/03/19
Assuming Odom is employed on a calendar year basis and there's no liquidated damages provision in the contract that comes into play in the event of termination, Mizzou would be looking at paying Odom $15.25 million over balance of the contract's term. The general rule is if Odom becomes employed during the balance of the contract's term, his compensation in his new positon would offset the $15.25 million. I.e. if he takes a defensive cordinator job at 600K and is paid $3 millon over the remaining contract period, Mizzou's liabiilty would be reduced to $12.25 million.
FWIW: the media stories reporting the raise to 3.05 million and the extension through the 2024 season state that the raise made Odom the next to lowest paid SEC head football coach.
Edited by ScottsdaleTiger at 13:00:04 on 11/03/19
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Cost of firing Odom - ScottsdaleTiger MU - 11/3 12:57:08
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