Thursday, December 3, 2009

Details on New Woods Prenuptial Agreement Emerge

While Tiger may feel he's out of the woods (pun intended) now that he's 'fessed up to his affairs, he's apparently not out of trouble as far as wife Elin Woods is concerned. Reports have detailed that the one-time nanny is getting a pretty good payment to stay married to the superstar golfer, and a much better prenuptial agreement.

The original prenuptial agreement was actually pretty lame, considering the amount of money Tiger Woods is worth. It guaranteed Elin Woods $20 million after a 10 year stint in the marriage (they were married in 2004). Now, she will be getting a $5 million payout immediately, put into a private bank account accessible only by her, and revising her prenup to give her as much as $55 million more to stay with him two more years.

This sounds less and less like a marriage and more like a business arrangement, the more we hear of it. And when you read the commentary, well ...
The lawyer familiar with the couple’s negotiations told The Daily Beast that Tiger also has agreed to shorten the original prenup to seven years from the date of marriage, meaning it will vest in another two. And the revised agreement provides for a staggered schedule of payments spread out over five years that could be worth upward of $75 million. So for Elin to collect $80 million, she’ll need to stay with Tiger another seven years, be a dutiful wife in showing up with him at social events and in public as if they were still the perfect couple, and sign a nondisclosure form that will prevent her from ever telling her story. Even if she lasts only two more years, she’ll still walk away with nearly twice what she was entitled to under the original prenup.
"Even if she lasts only two more years" makes it sound lieke she's being tortured. Is this a marriage or what?
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