NFL Collective Bargaining Agreement

Article 55
Player Annuity Program

Section 5(b)
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:

(b)

The amount of any payment to the player Segregated Accounts from the Company General Account for the current year, such that the estimated Net Worth for the current year does not unreasonably exceed the above limits; and