Back when North Carolina decided to cut ties with Butch Davis amidst the NCAA starting to spend a fair amount of non-vacation time in Chapel Hill around the football program, this was what the university handed out to media as its financial obligation to Davis:
Coach Davis' Employment Agreement calls for the University to immediately pay him $270,417. Before the end of the calendar year 2011, the University will pay Coach Davis (a) an additional $13,083, which is the pro rata share of his retention bonus, plus (b) an additional $650,000 in supplemental compensation payments. That's a total 2011 payment of $933,500.
The University will owe Coach Davis an additional $590,000 each January 15, starting in 2013 and concluding in 2015.
These amounts would be reduced by any compensation that Coach Davis might earn for coaching in a college or professional program.
The maximum total that Coach Davis could receive is $2,703,500.
All payments to Coach Davis will be made by the Department of Athletics. No state funds will be involved.
The bold emphasis was mine. "Reduced" not eliminated. This should not be any barrier to Davis accepting the FIU job. In fact, as stated in blog posts and comments, it makes it easier for FIU to backload a four or five-year deal on spec in hopes that revenues will have greatly increased by the time FIU's paying the heavier chunk solo.