Payment Plan in Travolta Extortion Case

John Travolta's lawyer just testified the alleged extortionists were willing to get paid in installments over four years.

Michael McDermott testified that after a number of phone calls, Pleasant Bridgewater dropped the asking price for the alleged extortion document from $25 million to $15 mil ... but the Travoltas ended up agreeing to $10 million. McDermott testified he would be paid $2.5 million a year for four years.

McDermott said this was all a setup, because he gave police permission to tap his cell phone and set up a sting operation at a hotel room.