Longs Last Extension

[younghog]

The BOT made steps to make this happen..

From Todays ArDemGAZ

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Long's fourth contract amendment was the latest to lay out rules for "termination at convenience of the university."

"In the event the University terminates this Employment Agreement for convenience and subject to the duty of mitigation, the University shall pay Mr. Long the sum of One Million and No/100 Dollars ($1,000,000.00) per year from the effective date of Mr. Long's termination through the end of the Term of this Employment Agreement, including any extensions of the Term, with any partial year being prorated," the amended employment agreement said.

The fourth agreement said the university can use private funds, any dollars self-generated through the activities of the Athletic Department or any other legally permissible funds. It also states that Long will not be entitled to any additional payments from the university or the Razorback Foundation except for the compensation "earned, but yet unpaid, prior to the effective date of his termination for convenience."

The same agreement includes an offset clause that allows the university to reduce severance pay on a monthly basis should Long earn "gross compensation" personally, through business entities owned or controlled by him from employment as an administrator or consultant either at a college or university or with a professional sports organization.
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GOOD BUSINESS SENSE for a non hopeful ending..

GO HOGS