Ten days after Bill Stewart‘s forced resignation at West Virginia — a move that promoted offensive coordinator/coach-in-waiting Dana Holgorsen to position he was on track to receive six months later — WVU has released the details of their “settlement agreement” with Stewart.
And the contract shows WVU is paying a pretty penny to cut all ties with Stewart.
According to the agreement, which can be read HERE, “The University agrees to pay Stewart the amount of $1,650,000 as general and liquidated damages. In addition, Stewart will be entitled to all benefits, including, but not limited to accrued vacation time and sick leave.”
Interestingly, the contract also states “The University and Stewart agree that neither will engage in any conduct or communications that disparage the other or any agents, employees, or representatives of the other.”
The the dollar amount of the current buyout is roughly the sum of what Stewart “would have been paid had he coached the remainder of the 2011 season (aprox. $500,000), been paid the buyout amount agreed to when he was fired last year ($750,000) and been paid for another 30 months of employment at WVU in a position that had not yet been determined ($350,000).”
(In other words, Stewart is receiving roughly same amount as those three situations combined — an amount similar to what he would have been paid when he and WVU “agreed to part ways” in November, 2010)
However, under the condition of his departure ten days ago, Stewart has “no additional responsibilities with the university”.
(In other words, GTHO)