He first started collecting, at $10,000 a pick tax-free, in the middle of the third round, a source with knowledge of the policy with ISI told ESPN. By being passed over in the fourth round as well, Butt was set to receive $543,000 on the policy.
Prior to Butt's injury, he was projected to be picked near the top of the second round, which would have grossed about $4 million in guaranteed money. As the first pick in the fifth round, Butt will receive about $380,000 in guaranteed money.
That.insurance is tax free too