ITF

30 (b) Distribution of income from advertising and television/licensing Contributions from the Title Sponsor and International Sponsors and any income from Television and Licensing shall, after deduction of administrative expenses, be distributed to the competing Nations in accordance with a scale agreed by the Board of Directors in consultation with the Davis Cup Committee and based on decisions taken by an Annual General Meeting. X. INCOME AND EXPENSES OF THE COMPETITION 57. INCOME The following income shall be used to meet any necessary expenditure of the Competition: (a) Income from the sale of International sponsorship rights to both Title and International Sponsors. (b) Income from merchandising and licensing of the mascot, symbol and/or legends, and income from the sale of international television rights. (c) 10% of the Gross Receipts of each Tie (see Regulations 48, 49 and 50), which must be sent to the ITF within two calendar months of the completion of each Tie. (d) The entry contribution of $1,500 from each competing Nation in the World Group and of US$ 1,200 from each Nation competing in the Groups I & II which shall be deducted from that Nation's prize money and payment in lieu of advertising. (e) The entry contribution of $450 from each competing Nation in the Zonal Group III and Group IV Competition. (f) Fines imposed on member Nations. (g) Other items of general income. 58. EXPENSES From the income received, the following payments shall be made: (a) Prize money and payments in lieu of advertising, distributed to competing Nations in accordance with a scale agreed by the Board of Directors in consultation with the Davis Cup Committee and based on decisions taken by an Annual General Meeting. (b) General travelling expenses for each away Tie played by a Nation. (c) General travelling expenses of Neutral Officials. (d) Other expenses in the general interests of the Competition. XI. SPONSORSHIP AND OWNERSHIP OF RIGHTS 59. OWNERSHIP OF RIGHTS Any and all rights of commercial and other exploitation of the event and all intellectual property rights associated therewith are owned by and vested in the ITF. There shall be a distinction between those rights and properties which are owned by the ITF with respect to the Competition and all Ties therein (hereinafter

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