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o Growth Factor, Performance Bonus Cushion, Long-Term, injury continue except for any changes already agreed to or contained in this proposal

o +8M/-8M payroll range becomes +/- 20% of midpoint beginning in 2013/14

o The Upper Limit may not fall below 67.25 M in any year of the agreement. This is half way between the 11/12 Upper Limit (64.3 M) and the 12/13 UL (70.2 M).

5) Players’ Share

· Our players’ share proposal is identical to yours in all material respects except for the amount of the transition payments added to the 50% share. There are no guarantees or fixed targets, other than a requirement that, beginning with the second year of the Agreement, players’ share, expressed in dollars, may not fall below its value for the prior season. This proposal allows us to determine players’ share regardless of the effects of the lockout and its aftermath.

Player share will equal 50% of HRR, plus these fixed dollar payments attributable to the first four years of the agreement:

· 2012/13 $ 182 M

· 2013/14 $ 128 M

· 2014/15 $ 72 M

· 2015/16 $ 11 M

Payment of these amounts may be deferred for one year (specific payment date to be agreed upon), with the deferral accumulating interest rate equal to the sum of the prime interest rate in effect at The J.P. Morgan Chase Bank on the next June 15, plus 1%. Payment of these fixed dollar amounts is guaranteed by the League.

In years two through five of this Agreement, the players’ share in dollars may not be less than it was in the previous year.

Attached are charts which show this proposal against your last in the format you provided after our last proposal.

6) Term of CBA

· The term of the CBA will be for 5 years/seasons, and will end on September 15, 2017.

7) Transition Rules to be negotiated

· May cover, among other things, compliance buyouts, pro-ration of status/service and statistical criteria/thresholds based on the length of the season, movement of deadlines, and any other relevant matters.

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