## III. FINANCIAL 

D. Tournaments may not pay travel expenses without special written permission from ATP. 

## 3.16 Release from Financial Commitment 

A. Each ATP Tour tournament is required to pay its financial commitment for each cal - endar year tournament. 

B. No refund shall be made for any sums paid whether or not the event is actually held, unless ATP in its sole discretion determines that extraordinary circumstances exist justifying such action. 

## 3.17 Tournament Financial Information 

A. Every two years all ATP Tour tournaments are required to provide accurate and com - plete actual and projected financial and other relevant information as requested by an independent consultant appointed by the ATP Board of Directors (Consultant), and otherwise provide reasonable cooperation to Consultant, including, if requested, permitting Consultant to undertake reasonable steps to verify the accuracy of tour - nament financial data, for the sole purpose of enabling Consultant to provide group tournament data and its evaluation of such data to the ATP Board of Directors. 

B .Consultant will be instructed not to provide to ATP or its staff, except for the COO/ CFO and ATP CEO, individual tournament information or any information that could reasonably lead to the calculation of individual tournament information and the matching of the information to a particular tournament. 

C.  Any tournament that fails to comply with this rule shall be subject to an annual fine in an amount up to a maximum of one half of a respective tournament’s Fee Obligation for that year not to exceed $100,000. The ATP CEO shall recommend any such fine after completion of an investigation into the circumstances that lead to the failure to comply. All fines shall be subject to approval by the ATP Board of Directors. 

D. A tournament may petition the ATP Board for an exemption from complying with this rule. The ATP Board will consider such petitions that demonstrate clearly that a par - ticular tournament’s organization/financial structure is such that it is not permitted to provide the information, or the requested financial information, when combined with other tournaments, will result in incorrect or misleading implications. 

## 3.18 Supplemental Tournament Financial Information Rule - Prize Money Revenue and Audit 

A.  Each ATP Tour tournament member is required to annually provide to the Committee Auditor (as defined below) a complete and accurate determination and calculation of its actual Gross Revenue (as defined below) and all other financial information and supporting documentation relating thereto, in each case, as requested by the Com - mittee Auditor and in accordance with the terms of this rule. In connection with the foregoing, each ATP Tour tournament member shall provide its full cooperation to the Committee Auditor, who will examine and verify the accuracy of such information. 

## III. FINANCIAL 

B.  The following terms used in this Section B shall have the meanings set forth below: 

“Committee”  means the committee appointed by the ATP Board of Directors and authorized to act in accordance with this rule, which shall be comprised of the ATP Chairman, an Independent Member (as defined below) and an equal number of tour - nament and player representatives, with only one (1) tournament representative and one (1) player representative serving on such Committee being designated by the class of ATP Board of Directors that appointed such representatives with the right to vote on any Committee matters, regardless of the number of tournament and player representatives appointed to serve on the Committee. The player representative and the tournament representative designated with the right to vote on Committee matters shall be collectively referred to herein as the “Voting Members”. 

“Committee Auditor” means an independent accounting firm appointed by the Committee to (i) receive and evaluate each tournament member’s Submissions, (ii) perform agreed upon procedures regarding financial information included in each Submission, and (iii) prepare reports to be provided to the Committee and to the ATP Board of Directors in accordance with this rule summarizing the Submissions. The Committee Auditor will also act as advisor to the Committee on financial and account - ing related matters and Gross Revenue reporting issues and questions 

“Independent Member”  means the independent member of the Committee appoint - ed by the ATP Board of Directors by a super majority vote to serve on the Committee for a 3-year term. The Independent Member is subject to removal at any time by the ATP Board of Directors by a super majority vote. 

“Player Auditor”  means an independent certified public accountant and/or financial advisor selected by the player member(s) of the Committee and approved by the Committee in accordance with Section C below who meets the appropriate level of expertise and experience to evaluate the accuracy of the Submissions. The Player Auditor will act as advisor to the player member(s) of Committee. The Player Auditor may also review items and information related to the application of the ATP Prize Money rules to the extent requested by the player member(s) of the Committee and shall provide comfort to such member(s) as to the accuracy of the Submissions to confirm the reasonableness of the Committee Auditor’s evaluation thereof. 

“Gross Revenues” means the total amount of gross revenues related to a tourna - ment event determined on the basis of the generally accepted accounting principles in the United States (“GAAP”) or the International Financial Reporting Standards (“IFRS”) (depending on the applicable accounting rules in the country in which the tournament operates), in each case, as in effect on such date of determination and consistently applied, which shall include all revenues related to the tournament’s event operations regardless of which entity affiliated with the tournament event re - ceives, or accounts for, such revenues or which jurisdiction such revenues are re ported. All such revenues shall be reported in the tournament’s domestic reporting currency. For combined events, total Gross Revenues should be broken out by event and categorized by those identifiable only to the men’s event, those identifiable only to the women’s event and all other revenues. The Committee has the power to cre - ate additional rules for reporting Gross Revenues. Consistent with both GAAP and IFRS, tournaments will report estimated revenues for those revenue sources where final revenue amounts are not determinable by the deadline for completing the Sub - mission. Subsequent adjustments of these estimates to actual will be included in 

