We're here bec we all got burnt by Tripp in BET.
He was meant to be bringing a transformational deal to BET and instead did a deal that just enriched himself.
He was mates with the former CEO and they did a nice little deal between themselves.
When the partnership was announced it said he would not get cash just stock & options if it was a "transformational deal". Then when the deal gets announced suddenly he's getting an extra $15m for this 10 year deal. At the AGM someone asks why the deal suddenly changed because at the time of the partnership being announced it was specifically stated cash would not be paid and the former CEO basically said Tripp's my mate, they then quickly peddled it into the deal is between strategic and transformational thats why he gets the $15m but they only said that after they realised they needed a justification for it.
Now we find out the deal has lasted 2 years, paying the minimum amount for 2 years and there is no break contract clause and they don't seem to be getting back any of the $15m paid for such an amazing deal.
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