NFL Collective Bargaining Agreement
Player Annuity Program
Section 5(a)NFL Player Annuity & Insurance Company Net Worth
Unless unusual circumstances exist that warrant a greater Net Worth, the estimated Net Worth of the NFL Player Annuity & Insurance Company (“Company”) at the end of each calendar year shall continue to not be less than the greater of (1) one percent (1%) of the total Segregated Accounts, or (2) $3.5 million. For purposes of this calculation, Net Worth is defined as the net worth of the Company as shown in the pro forma financial statements. At its last meeting in each calendar year, the Company’s Board of Directors shall continue to determine:
(a)
Whether or not unusual circumstances exist that warrant a greater estimated Net Worth;