Breeders' Awards

The plan will allow us to pay the breeder of a Florida-bred winner registered with the Florida Thoroughbred Breeders'; and Owners' Association an award of 15 percent of the gross purse from a licensed Thoroughbred pari-mutuel track located in the State of Florida. Each single breeder award may not exceed $15,000. These awards shall be paid monthly.

Breeder Bonus Award

The plan will allow the Florida Thoroughbred Breeders' and Owners' Association to pay to the breeder of a registered Florida-bred winner a bonus based on the balance of the awards account (through Dec. 31) after having first:

(a) Paid Stallion Owners' Awards as set forth

(b) Paid Breeders' Awards as set forth

(c) Maintained a reserve necessary to meet future cash flow requirements for stallion owners' awards and breeders' awards as determined by the FTBOA Board of Directors.

The breeder bonus awards shall be on a pro rata share based (of the funds available) on the awards the breeder has received through the preceding 12 months.

That up to 10 percent of the gross receipts be withheld in accordance with statutes for administrative and promotional fee.

The awards total in excess of $5 million annually with approximately 90 percent going to breeders' awards and 10 percent to stallion owners' awards.