I can haz Ron Prince as my coach for evaz!!
T-Y, Bob
Also, Snyder deserves some blame.
I mean clearly Wefald and Krause are the worst offenders (along with their lackeys) but Snyder's MOU and deferred payments that gramps may or may not have used for dubious accounting and tax reasons (and to keep things private) clearly influenced what was acceptable, in-bounds and on the table in Krause/Snyder's mind. Weiser Way also did a little dabbling in that realm, but at least he had the good sense to say no to the Prince extension.
God damn this is awful to read.
The reasoning behind the MOU as a supplement to the public contract? Take it away BOB!
Q: Why did you do the MOU as a separate document?
A: Two things. One, historically had always done and we use a deferred compensation as a separate document other than the employment agreement, the ones that I'd been involved with. And second reason is that could honestly say that at that point when asked for a specific document of employment agreement that that's a memorandum of understanding so...
Q: Is any of that with regard to what has to publically be disclosed?
A: To a point, yes.
Q: I'm sorry?
A: Yes.
Q: Okay. What's the logic there?
A: Logic there is I think that that would be publically one that would be difficult for people to understand and not support.
....
A: The advantage was a a long-term deferred compensation agreement through an MOU, historically, the MOU's and the deferred compensation agreement were separate instruments and were not generally disclosed on the basis that the compensation hadn't been paid. Like once compensation gets paid and that's the poing of, I use as an example if there is a, a, an annuity that once that annuity is paid, my understanding is that, that that then is one that you would disclose because you've paid it. Its part of the compensation paid in that year.
Q: And that's historically how you understood this would work?
A: Yes.
....
Q: And the IAC could avoid at least potentially the necessity of trying to disclose this to the public and go through the ramifications of that?
....
A: Let me phrase it this way. My experience has been that those documents change based upon successive performance of coaches. At one point in time, split dollar life insurance policies were involved, uh, depended upon the individual situation, it may be a straight guarantee of children's tuition, college expenses and depending upon where the employee is with a tax advisor may change the situation, so in that sense, yes.
