March 1, 2011

Major staking deal struck with fellow merge player for Chicago Poker Classic

This combo is a Chicago Poker Classic bundle deal exclusively for DJ Orsher.

Tournaments incuded in Combo:

Monday, Feb 28
Event #5 NLHE – 12pm – $240 – 10k added / Paid 100% by backer

Saturday, March 5
Event #9 6-max – 12pm – $350 – 15k added/ Paid 100% by backer

Sunday, March 6
Event #10 NLHE – 12pm – $240 – 10k added/ Paid 100% by backer

Monday, March 7
Event #11 NLHE – 12pm – $240 – 10k added (1-day event)/ Paid 100% by backer

2 (two) second chance tournaments at 7 PM any chosen day. $260 / Paid 100% by backer

Total Amount= $1330

Term and conditions.

1. All money won in any event of this combo will be chopped 50-50. If a total amount of money won in this combo is less then 5 K, winnings will be chopped without deducting any USA Federal and State taxes. If total amount won is equal or more than 5K, money distributed to both parties will be as follow:

a) USA Federal and State Taxes will be deducted from the total amount.

b) Stake back deducted and returned to DJ Orsher

c) The remaining amount will be chopped equal amount of 50% for the player and 50% for the backer.

2. If any of the tournaments will not be played for any reason, DJ Orsher will be issued a full refund for that event.

3. Money Transactions will be done via Carbonpoker website transfers.

4. DJ Orsher will be informed of any progress in the tournaments via my own blog at www.ltuflawless.blogspot.com and/or my Twitter account @LTUFlawless

5. For every Event bought, DJ Orsher will receive a free 2% share of Monthly Tourney King Grand Final, where I will start with custom top 3 stack. Total max of 10% of the tournament shares.

6. I agree to sell 10 % Main Event shares for lowered price of $4 at 0.1% per share. Value is 128%

If backer buys 20% of ME shares, price of the share will be $3.5. Value is 112%

If backer buys 30% or more of ME shares price of the share will be $3 and value goes down to 96%

Stakeback is included in ME as well.
7. This combo and Main Event are to be treated as seperate events.
8. DJ Orsher agrees to buy 20% of Main Event Shares for $700 Total. For that I will bundle stake back in order to give backer greater chance to get his investment returned.
Possible scenarios:
1. I cash in in combo event, but dont cash in ME. DJOrsher gets stakeback $1330 and then chop 50-50. Depending on 5K limit before or after taxes. DJOrsher doesnt get stakeback from ME shares.
2. I dont cash in Combo, but I cash in ME. ME will be over 5K , I take the taxes off and enter the amount in CMU. DJOrsher gets ME cashback by the shares bought what CMU tells me to pay + $1330, since I bundled it with Combo events. CMU chops for everyone else who bought ME shares.
3. I cash in both- in any Combo Event and Main Event. DJ Orsher get stakeback of $1330 for Combo and gets paid for Main Events shares as everyone else.
4. If I cash less than $1330 in combo event. For example $1200. Everything goes to DJOrsher.

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