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Originally Posted by Sociofan
Makes no sense to me. This is up-front cash. If he gets cut next year, he keeps the damned money. There must be more to it than just a simple conversion.
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He's guaranteeing this year's salary. Of course, this year's salary is already guaranteed (since it would cost more to cut him than keep him). Restructuring the deal also makes it more likely that he will be cut in 2007. Re-read some of the earlier posts and you'll understand it better.