Common use of Expense Deductions Clause in Contracts

Expense Deductions. (1) No expense deductions shall be permitted to be taken in calculating AR, and all expense deductions that were previously permitted in the calculation of “Total Revenues” or “Defined Gross Revenues” or “Excluded Defined Gross Revenues” shall not be used in calculating AR, except as expressly provided herein. (2) An expense deduction for the reasonable and customary direct costs and initial investment (collectively, “direct costs”) for projects in new lines of business of NFL Ventures may be taken, subject to the following rules: (A) Absent NFLPA approval, there may be no more than three projects in new lines of business to receive deductions in any League Year (i.e., for the 2012 League Year, there can be three projects in new lines of business receiving deductions; for the 2013 League Year, there could be six projects in new lines of business (three that began in 2012 and three that began in 2013). (B) Absent NFLPA approval, a project in a new line of business shall not qualify for this deduction if it has more than $10 million in direct costs in a League Year. This limit shall increase in each League Year after the 2012 League Year by the percent- age change in AR. (C) Absent NFLPA approval, there may be no more than $120 million in direct costs across all projects that qualify for the deduction in the 2012 League Year (i.e., a maximum deduction of $60 million). For the avoidance of doubt, this Subsection

Expense Deductions. (1) No expense deductions shall be permitted to be taken in calculating AR, and all expense deductions that were previously permitted in the calculation of “Total Revenues” or “Defined Gross Revenues” or “Excluded Defined Gross Revenues” shall not be used in calculating AR, except as expressly provided herein. (2) An expense deduction for the reasonable and customary direct costs and initial investment (collectively, “direct costs”) for projects in new lines of business of NFL Ventures may be taken, subject to the following rules: (A) Absent NFLPA approval, there may be no more than three projects in new lines of business to receive deductions in any League Year (i.e., for the 2012 League Year, there can be three projects in new lines of business receiving deductions; for the 2013 League Year, there could be six projects in new lines of business (three that began in 2012 and three that began in 2013). (B) Absent NFLPA approval, a project in a new line of business shall not qualify qual- ify for this deduction if it has more than $10 million 15,250,000 in direct costs in a League Year. This limit shall increase in each League Year after the 2012 League Year by the percent- age change in AR. (C) Absent NFLPA approval, there may be no more than $120 million in direct costs across all projects that qualify for the deduction in the 2012 League Year (i.e., a maximum deduction of $60 million). For the avoidance of doubt, this SubsectionThis

Expense Deductions. (1) No expense deductions shall be permitted to be taken in calculating AR, and all expense deductions that were previously permitted in the calculation of “"Total Revenues” " or “"Defined Gross Revenues” " or “"Excluded Defined Gross Revenues” " shall not be used in calculating AR, except as expressly provided herein. (2) An expense deduction for the reasonable and customary direct costs and initial investment (collectively, “"direct costs”") for projects in new lines of business of NFL Ventures may be taken, subject to the following rules: (A) Absent NFLPA approval, there may be no more than three projects in new lines of business to receive deductions in any League Year (i.e., for the 2012 League Year, there can be three projects in new lines of business receiving deductions; for the 2013 League Year, there could be six projects in new lines of business (three that began in 2012 and three that began in 2013). (B) Absent NFLPA approval, a project in a new line of business shall not qualify for this deduction if it has more than $10 million in direct costs in a League Year. This limit shall increase in each League Year after the 2012 League Year by the percent- age percen­ tage change in AR. (C) Absent NFLPA approval, there may be no more than $120 million in direct costs across all projects that qualify for the deduction in the 2012 League Year (i.e., a maximum deduction of $60 million). For the avoidance of doubt, this Subsection

Expense Deductions. (1) No expense deductions shall be permitted to be taken in calculating AR, and all expense deductions that were previously permitted in the calculation of “Total Revenues” or “Defined Gross Revenues” or “Excluded Defined Gross Revenues” shall not be used in calculating AR, except as expressly provided herein. (2) An expense deduction for the reasonable and customary direct costs and initial investment (collectively, “direct costs”) for projects in new lines of business of NFL Ventures may be taken, subject to the following rules: (A) Absent NFLPA approval, there may be no more than three projects in new lines of business to receive deductions in any League Year (i.e., for the 2012 League Year, there can be three projects in new lines of business receiving deductions; for the 2013 League Year, there could be six projects in new lines of business (three that began in 2012 and three that began in 2013). (B) Absent NFLPA approval, a project in a new line of business shall not qualify for this deduction if it has more than $10 million in direct costs in a League Year. This limit shall increase in each League Year after the 2012 League Year by the percent- age percen- tage change in AR. (C) Absent NFLPA approval, there may be no more than $120 million in direct costs across all projects that qualify for the deduction in the 2012 League Year (i.e., a maximum deduction of $60 million). For the avoidance of doubt, this Subsection