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02.10.2018 01:23
CEO of Steelcase furniture, laid the groundwork for this deal, which a source at Michigan explained is a more commonplace form Antworten

Michigan and football coach Jim Harbaugh agreed to a contract amendment that will increase total payments from the school to $9 million in 2016.In addition to paying a $5 million salary for each of the remaining six years on his deal, Michigan also will loan Harbaugh $4 million in 2016 and an additional $2 million for the following five years to pay the premium on a life insurance policy. The first $2 million loan was made June 3, according to records obtained Wednesday via a Freedom of Information Act request. Each additional $2 million payment will be made in December starting later this year.As long as the insurance policy stays active, Harbaugh does not need to repay the loan until he dies. At that time, the university can recoup its original investment and the rest of the insurance payout would go to whomever Harbaugh chooses as his beneficiaries. Should the policy be stopped at any point, Michigan would still be entitled to get its money back from the insurer.The deal insures that Harbaughs heirs, should he die while Michigan is paying for the policy, will get no less than 150 percent of the premium that has been paid, increasing the payout by $6 million in 2016 and $3 million each successive year.The 150 percent clause protects the university as well. Harbaugh is allowed to borrow against the policy while he is living but has to keep at least 150 percent of the premium value untouched, which gives the school a cushion to make sure it gets its investment back.Harbaughs original seven-year contract with the school allowed for the parties to sit down and discuss additional compensation after the coach finished his first season with the Wolverines.Those discussions started under interim athletic director Jim Hackett in December. Hackett, the former CEO of Steelcase furniture, laid the groundwork for this deal, which a source at Michigan explained is a more commonplace form of deferred compensation in the corporate world.New athletic director Warde Manuel had said in March that the amendment to Harbaughs contract was nearing completion. The two sides officially came to an agreement June 3.If Harbaugh decides to leave the school or is fired, the university will stop providing the loans for insurance premium payments. If the insurance policy is canceled for any reason after that point, Harbaugh will need to pay back the money Michigan loaned him.Harbaughs contract and this amendment are both set to expire in December 2021. There is a clause in the deal that allows the two sides to renegotiate after his fifth season in order to make sure Harbaughs salary still meets market value.ESPN senior writer Darren Rovell contributed to this report. Patrick DiMarco Jersey . LUCIE, Fla. 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Geelong star and overwhelming Brownlow Medal favourite Patrick Dangerfield has dominated voting for the AFL Players Association most valuable player award.Dangerfield won his first Leigh Matthews Trophy with a whopping 1369 votes.His former Adelaide teammate Rory Sloane was well off the pace in second place with 443 votes, while Richmond midfielder Dustin Martin was third with 297.Current players vote on the award.The margin is similar to last year, when Fremantles Nat Fyfe won with 1455 and went on to take out the Brownlow.Last year, North Melbourne ruckman Todd Goldstein was runner-up on 578 and Dangerfield (364) was third.Dangerfield took his game to a new level after making the high-profile move late last year from the Crows to the Cats.He is hotly-favoured to become only the ninth player to win the most valuable player award and the Brownlow in the same season.Apart from Fyfe last year, among current players to achieve the feat, Gold Coast captain Gary Ablett did it in 2009 and 2013.Also on Tuesday night, Sydneys Luke Parker won the Robert Rose award as the leagues most courageous player for the second-straight season.Sydneys Rising Star winner Callum Mills took out the associations best first-year player award, while Adelaides Taylor Walker was named best captain.Western Bulldogs star Marcus Bontempelli was named captain of the associations under-22 team for the season and Essendon onballer Zach Merrett is the vice-captain.ddddddddddddLast Friday nights epic qualifying final win over Hawthorn means Dangerfield and his teammates have the week off.They will face the winner of Saturdays SCG semi-final between Sydney and the Crows in a preliminary final, with the winner going into the grand final.Dangerfield said it was a privilege to win the MVP award.Looking up at the past players and champions who have played our game, to sit alongside (them) and have my name on the trophy is a pretty special moment, he said.Asked if his first year at Geelong could have gone any better, Dangerfield replied: I will let you know in a couple of weeks time.Yet he admitted it had been a seamless transition. Ive been very lucky to come to a wonderful football club, he said.Dangerfield said he would not barrack for either side in the SCG semi-final, despite his strong Crows history.I have friends at Adelaide obviously who Id love to see do well, he said.But this time of the year, you have to remove emotion because its about us and us winning.For us and me, its business - were here to win and whoever wins (on Saturday), thats the challenge for us. Cheap Jerseys Store Cheap NFL T-shirts Wholesale Nike NFL Jerseys China NFL Jerseys White Cheap NFL Jerseys Camo Wholesale Jerseys China NFL Jerseys Outlet Cheap Jerseys Wholesale China Jerseys Cheap NFL Jerseys From China Cheap NFL Hoodies Camo China NFL Jerseys Cheap Jerseys Wholesale Cheap NFL Jerseys Camo NFL Jerseys China ' ' '

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