OF Cuddyer, Michael, $7m (2018) $7m $7m $7m
PENALTY
2016- $6.5M
2017-$4M
2018- $2M
This a "Released Under Contract". A "Contract Buyout" would add your totals together and multiply by 1.1% -- which would come to $14.0m and
then you would have to decide how to pay that amount.
Option 1: Pay entire amount in 2016 and have no future obligations;
Option 2: Pay $7.0m in 2016 and $7.0m in 2017;
Option 3: Pay the $14.0m over three years, with no back loading
Option 4: No contract buyout and simply pay the amounts as a Released under contract.
Let us know what you want to do.