Year-One Formula Allotment definition
Year-One Formula Allotment means, for each Drafted Rookie, a frac- tion calculated based upon the player’s round and position in the Draft and expressed as a percentage of the Year-One Rookie Compensation Pool (excluding compensatory selections and one-third of the Undrafted Rookie Reservation).
Year-One Formula Allotment means, for each Drafted Rookie, a fraction calculated based upon the player's round and posi tion in the Draft and expressed as a percentage of the Year-One Rookie Compensation Pool (excluding compensatory selections and one-third of the Undrafted Rookie ▇▇▇▇▇ vation). The (i) sum of the Year-One Formula Allotments for al of a Club's Drafted Rookies, multiplied by the Year-One Rookie Compensation Pool (excluding compensa tory selections), plus (ii) one-third of the Undrafted Rookie Reservation shall equal the Club's Year-One Rookie Allocation. The Year-One Formula Allotment for each selec tion shall remain in effect for the duration of this Agreement unless the parties agree otherwise. The Year-One Formula Allotment attributed to each draft selection shall be agreed to by the NFL and the NFLPA, and shall not be disclosed to Clubs, Players, Player Agents or the public.
Examples of Year-One Formula Allotment in a sentence
In the event that a Draft selec- tion (i.e., a draft slot) is assigned to another Club prior to completion of the Draft, the amount of the Year-One Formula Allotment for such selection shall be assigned to the Club receiving the selection.
In the event that a Draft selection (i.e., a draft slot) is assigned to another Club prior to completion of the Draft, the amount of the Year-One Formula Allotment for such selection shall be assigned to the Club receiving the selection.
For purposes of Subsections (i)-(iii) above, “Rookie Allotment” means the Year-One Formula Allotment for that selection multiplied by the Year-One Rookie Compensation Pool (excluding Compensatory Selections and one-third of the Undrafted Rookie Reservation).