The schools (and Pac 12, who said they would pay) still have to pay the $18 million exit fee per school. The question is, do they have to pay the $10 million+ for poaching under the scheduling agreement? Under that agreement, the Pac 12 would have to pay the following:

$10.0 million (first school poached)
$10.5 million (second school poached)
$11.0 million (third team)
$11.5 million
$12.0 million

$55 million more under the scheduling agreement.

Interesting argument too, by the Pac 12, claiming they only signed it because they were desperate and so this is a penalty and the MWC was taking advantage of them. The MWC will have a strong argument that this payment isn't a penalty but was a deterrent to prevent the Pac 12 from doing exactly what they are now doing, which is poaching the MWC and making it possible that the conference no longer exists. I would enforce the provision if I were the judge hearing the case.