Billy Napier Annual compensation:
• 2022 Contract Year (Execution date - Jan. 31, 2023) total annualized compensation of $7,100,000.
• 2023 Contract Year - $7,200,000 (Feb. 1, 2023 — Jan. 31, 2024)
• 2024 Contract Year - $7,300,000 (Feb. 1, 2024 — Jan. 31, 2025)
• 2025 Contract Year - $7,400,000 (Feb. 1, 2025 — Jan. 31, 2026)
• 2026 Contract Year - $7,500,000 (Feb. 1, 2026 — Jan. 31, 2027)
• 2027 Contract Year - $7,600,000 (Feb. 1, 2027 — Jan. 31, 2028)
• 2028 Contract Year - $7,700,000 (Feb. 1, 2028 — Jan. 31, 2029)
Total base compensation: $51,800,000
Buyout
If Napier is terminated without cause, the UAA will be responsible for 85 percent of the total remaining annual compensation through the otherwise unexpired term, without any mitigation obligations incurred by Napier or offset rights attributed to UAA.
The payments would be made as follows: 50 percent paid within 30 days of termination, the remainder paid in equal installments (12.5%) over four years, with the first installment paid on the first July 15th following such termination and each July 15 thereafter until paid in full.
So it would cost them $31,875,000 to buy him out after 2023, before we play them in 2024.