Section 2: Terms of Participation

To meet the objective outlined in Section 3 of the AGREEMENT, the AGREEMENT, hereby, establishes the TNPL.

 The TNPL will raise money by collecting DONATIONS and holding them in the FUND, the proceeds of which shall be used to award prizes as described in Section 6 of the AGREEMENT.

 Only those PLAYERS that choose to participate in the TNPL need to make DONATION(S).  Only QUALIFIED MEMBERS are eligible to receive prizes.Only those PLAYERS that choose to participate in the TNPL need to make DONATION(S). 

Only QUALIFIED MEMBERS are eligible to receive prizes.

A QUALIFIED MEMBERS accumulated TOURNAMENT POINTS are determined by the sum of his/her twenty highest scoring performances out of a maximum thirty in a TUESDAY NIGHT TOURNAMENT for each MEMBER.

All DONATIONS to the TNPL FUND are non-refundable and collective property of the TNPL. Except as provided for in the AGREEMENT, the TNPL and the FUND will be controlled, owned, and governed by its MEMBERS.

This right is provided for in Section 7 of the AGREEMENT.The FUND will send payment directly to the WSOP for the EVENT seat, No cash will be paid out for EVENT seats. Any money in the FUND not able to award a PRIZE (under $1000) after the League Season has concluded will be added to the WILD CARD TOURNAMENT donations the following Tuesday to fund the last $1000 seat award.

The conclusion of the WILD CARD TOURNAMENT is the end of the League season. All remaining monies in the FUND, after the final $1,000 seat is awarded to the winner of the WILD CARD TOURNAMENT, will be used to award the next highest point total QUALIFIED MEMBER a seat in a $235 deepstack tournament at the WSOP until all monies in the FUND have gone towards tournament seats. The number of members who get sent to the WSOP will be determined by the dollar amount in the TNPL FUND.

All awarded EVENT seats must be played by a TNPL QUALIFIED MEMBER that WSOP season. In the event that an awarded MEMBER cannot attend ANY of the $1000 WSOP Tournaments that season, the seat must be sold within TNPL and only sellable within the TNPL. First right of refusal goes to the QUALIFIED MEMBER with the highest accumulated TOURNAMENT POINTS who is not already a winning MEMBER and so on until the EVENT seat is sold.   

An awarded EVENT seat may only be sold for the amount that the selling QUALIFIED MEMBER donated into the fund that TNPL season.  No profit can be made by selling an awarded EVENT seat.

If any TOURNAMENT MEMBER wins $5,000 or less, those winnings shall be divided 65/35 between the winning TOURNAMENT MEMBER (65%) and all the other QUALIFIED MEMBERS split the remaining (35%), everyone is individually responsible for any tax obligations.

If any TOURNAMENT MEMBER wins over $5,000 an automatic 30% will come off the top of the winnings to pay for all of the taxes. The Winning Member will assume the entire tax burden and use the 30% for that burden. The after tax winnings shall be divided 65/35 between the winning TOURNAMENT MEMBER (65%) and all the other QUALIFIED MEMBERS split the remaining (35%).

If a TOURNAMENT MEMBER is offered compensation for participating in the EVENT other than from winnings from the EVENT, e.g., an endorsement deal, then all proceeds shall belong exclusively to that TOURNAMENT MEMBER. The winning TOURNAMENT MEMBER is solely responsible for all taxes owed on any winnings or compensation.  The TOURNAMENT MEMBER is not responsible for any taxes owed by any other MEMBER. Upon dissolution of the TNPL pursuant to Section 7 of the AGREEMENT, the treasurer shall distribute all DONATIONS to the MEMBERS in the amount donated. The act of knowingly donating into the League makes that player a MEMBER of the LEAGUE there by ratifying and agreeing to abide by the AGREEMENT.

Tuesday Night Poker League