Gross Monies. Means any and all gross monies or other consideration of any type, including salaries, earnings, fees, royalties, bonuses, shares of profit, shares of stock, partnership interests, percentages and the total amount paid to Participant, and/or received by Participant or Participant's heirs, executors, administrators or assigns, or by any other Person on Participant's behalf, net of (a) any reasonable and documented out-of-pocket legal fees incurred by Participant in connection with securing,... negotiating or preparing any Brand Income Contract which are not reimbursed or reimbursable, including pursuant to the terms of such Brand Income Contract, (b) any reasonable and documented travel, lodging and per diem expenses incurred by Participant or Participant's representatives in connection with securing any Brand Income Contract, not to exceed Two Thousand Dollars ($2,000) per Brand Income Contract, to the extent actually paid by Participant and not reimbursed or reimbursable, including pursuant to the terms of such Brand Income Contract, and (c) self-employment taxes to which Participant is subject in connection with the receipt of such amounts or items to the extent that such amounts or items constitute Brand Income; but in each case, prior to the deduction or withholding of (x) any amounts payable to any third party (e.g., agency commissions), (y) any voluntary or personal deductions (e.g., contributions to retirement funds), or (z) any taxes required to be deducted or withheld by any federal, state or local government authority based on the net income of Participant (but excluding any deduction or withholding for payroll, medicare or FICA taxes or other deductions or payments required to be made to any federal, state or local government authority).View More
Gross Monies. Means any and all gross monies or other consideration of any type, including prize money, salaries, earnings, fees, royalties, bonuses, shares of profit, shares of stock, partnership interests, percentages and the total amount paid to Participant, and/or received by Participant or Participant's heirs, executors, administrators or assigns, or by any other Person on Participant's behalf, net of (a) any reasonable and documented out-of-pocket legal legal, accounting, or other professional fees... incurred by Participant in connection with securing, negotiating or preparing any Brand Income Contract which are not reimbursed or reimbursable, including pursuant to the terms of such Brand Income Contract, (b) any reasonable and documented travel, lodging and per diem expenses incurred by Participant or Participant's representatives in connection with securing any Brand Income Contract, not to exceed Two Five Thousand Dollars ($2,000) ($5,000) per Brand Income Contract, Contract (or $10,000 per Brand Income Contract if international travel is necessary or appropriate in connection with acquiring such Brand Income Contract), to the extent actually paid by Participant and not reimbursed or reimbursable, including pursuant to the terms of such Brand Income Contract, Contract. For the avoidance of doubt, the Parties agree that each of the following categories of economic benefit shall be deemed to be expressly excluded from the definition of "Gross Monies": (i) subject to the terms of section 17.11 of Exhibit C, any and (c) self-employment taxes all donations made by any Person, whether cash or in-kind, to any charitable foundation or not-for-profit golf camp Controlled by Participant or to which Participant provides personal services or grants the right to use Participant's Persona; (ii) any and all Gifts to Talent; and (iii) the value of any and all standard employee benefits to which Participant is subject in connection with the receipt of such amounts or items entitled pursuant to the extent that such amounts terms of his employment (including any benefits under any applicable collective bargaining agreement or items constitute Brand Income; but otherwise), the policies of his employer or membership on any Tour in each case, prior effect from time to the deduction or withholding of (x) any amounts payable to any third party (e.g., agency commissions), (y) any voluntary or personal deductions (e.g., contributions to retirement funds), or (z) any taxes required to be deducted or withheld by any federal, state or local government authority based on the net income of Participant (but excluding any deduction or withholding for payroll, medicare or FICA taxes or other deductions or payments required to be made to any federal, state or local government authority). time. View More
