Here is the email former UNM basketball coach Steve Alford sent to UNM associated counsel Kimberly N. Bell regarding his buyout clause and his intentions to repay $200,000, not the $1 million the school seeks (CLICK HERE for article on the matter from Tuesday’s Journal):
Dear Ms. Bell:
I understand that UNM is taking the position that my resignation was not effective on March 30 and that I will continue as a University employee until April 29 or 30. I also understand that UNM intends to deposit money into my account representing salary from March 30 through April 29 or 30.
My resignation as Head Coach was effective March 30. I performed no services after that date and am not entitled to any salary for services rendered after March 30. I will not accept any such payment.
The Term Sheet of March 18 never became effective because UNM and I never reached agreement on a final written employment contract including those terms. My obligations and those of UNM are governed by the agreement in place before the Term Sheet.
I am not entitled to any additional deferred compensation payments from UNM. Although I performed the conditions that would have entitled me to receive additional incentive salary, my contract with UNM provides that I am not entitled to receive such incentive salary because of my contract termination. I will not accept any unpaid deferred compensation or incentive salary.
My contract with UNM provides that if I terminated the contract before March 31, 2013, I would agree to pay the sum of $200,000. I hereby offer that amount to UNM.
For clarification on another matter, Alford said in a press conference in late March his buyout was $150,000, which has been referenced in media reports. The actual buyout per his former contract was $200,000.