AMATEUR STATUS* – Amateur contracts are signed and Deferred Compensation is paid by a Certified Guardian to a Certified Coach, in order to ensure NCAA eligibility compliance for a junior player by signing an Amateur Status Contract. Register as a Certified Guardian today with GTPs Association to utilize these privileges.
PROFESSIONAL TRAINING* – Deferred compensation is secured by 15% of a Certified Athletes future winnings for services rendered ONLY with a Certified Coach by signing an Engagement Contract. Register as a Certified Athlete today with GTPs Association to utilize these privileges.
PROFESSIONAL TRAINING* +: (1) Current or within the past two years of todays date, ATP/WTA Top 150 Players or ATP/WTA Top 50 doubles players and are Certified Athletes with GTPs Association OR (2) a Certified Athlete and Coach have 9 months of successfully contracted Engagement Contracts are eligible to sign GTPs Association Engagement + Contracts based on 15% of future winnings and 10% of Future Endorsements for services rendered ONLY. Any deferred compensation remaining at the retirement of a Certified Athlete is voided. Register as a Certified Coach today with GTPs Association to utilize these privileges.
*GTP will hold all parties responsible for their agreed-to obligations.
ENGAGEMENT CONTRACTS: FOR CERTIFIED ATHLETES AND COACHES ONLY
Steps and requirements:
1) An Athlete must review, have their counsel review, understand and execute an Operating Agreement that governs GTP’s Association of Ethical Tennis Players and Coaches.
2) An Athlete must be above 18 years of age to be Certified as an Athlete and provide valid proof of identity. (You may be under 18 however this requires express consent of GTP as well as your Guardian. Contact GTP for details and questions).
3) An Athlete and Coach are required to submit an Application for Certification. Information used in the Certification Application will be used to create your online GTP profile. A $100 Application Fee, as well as a $100 Annual Renewal Membership Fee is required to be Certified to the Association.
4) Once Certified, a Certified Athlete and Coach may execute Engagement Contracts. Engagement Contracts are uniform globally. The only parts of the Engagement Contract that will differ is negotiated total service provided by the Certified Coach to the Athlete and the total amount of deferred compensation to be owed by the Certified Athlete to the Certified Coach.
5) All Engagement Contracts can be converted to a Certified Athlete and Certified Coaches’ native language for a fee, however the English version will prevail if any discrepancies arise.
6) A Certified Athlete and Certified Coach will then execute an Engagement Contract together and submit to GTP for final approval.
7) Once acknowledged, accepted and approved by GTP, a Certified Athlete and Certified Coach may go to work.
8) The Association will hold all deferred compensation on behalf of the Certified Coaches to collect from the Certified Athlete at a future date based on 15% of their future winnings. Held deferred compensation accrues a 4% interest rate per year.
9) At the end of each month, GTP will notify the Certified Athlete of his or her required outstanding deferred compensation payments on 15% of his or her winnings for the previous month ONLY. This allows a Certified Athlete to pay what he or she can presently afford.
10) No Certified Athlete may accrue more than $100,000 aggregated deferred compensation under GTP through Engagement Contracts.
11) No Certified Athlete may have active Engagement Contracts with more than 3 Certified Coaches. No Certified Coach may have active Engagement Contracts with more than 10 Certified Athletes at any one time.
12) In the event a Certified Athlete is not able to pay back their compensation, two years post their retirement (not having played 12 ATP/WTA or ITF tournaments in two consecutive calendar years), Certified Athlete is required to begin a payment plan on remaining deferred compensation in the following manner:
| Repayment Category | Unpaid Balance of Deferred Compensation at Commencement Date or Retirement | Percentage of Deferred Compensation Commencement Date or Retirement due Quarterly |
|---|---|---|
| A | Over $0.00 but under $40,000.00 | 2.500% |
| B | $40,000.00 or more but under $60,000.00 | 1.875% |
| C | $60,000.00 or more | 1.250% |
13) This means, for Repayment Category A, a Certified Athlete who is now retired and was unable to repay his or her deferred compensation of $40,000, is required to initiate a payment plan 2 years post their retirement of 2.5% of $40,000, which equates to $1,000 every 3 months or $333.33 per month. Per the Operating Agreement of Ethical Coaches and Players, if a Certified Athlete remains in Good Standing and makes all payments for a 5 year period in a timely manner, either a balloon payment may be made, or at the discretion of the Association, may extend the payment plan. If the plan is extended and good timely payments are made for an additional 3 years, the Association and all Certified Coaches agree to waive the remaining 2 years of payments for a 20% discount. For Repayment Program B, if a Certified Athlete remains in good standing and makes all payments of $1125 per quarter or $375 per month on $60,000 remaining deferred compensation for a period of 5 years in a timely manner, a balloon payment may be made, or at the discretion of the Association may extend the payment plan. If the plan is extended and good timely payments are made for an additional 6 years, The Association and Certified Coaches agree to waive the remaining two years of payment for a 20% discount. For Repayment Category C, if a Certified Athlete remains in good standing paying 1.25% of $100,000 each quarter which equates to $416.66 each month for a period of 5 years in a timely manner, a balloon payment may be made, or at the discretion of the Association, may extend the payment plan. If the plan is extended and good timely payments are made for an additional 11 years, the Coaches and Association agree to waive the remaining 4 years of payments due for a 20% discount.
FOR CERTIFIED AMATEURS/GUARDIANS & CERTIFIED COACHES ONLY
Steps and requirements:
1) A Guardian and Coach must review, have their counsel review, understand and execute an Operating Agreement that governs GTP’s Association of Ethical Tennis Players and Coaches.
2) A Guardian must be above 18 years of age to be Certified as a Guardian and provide valid proof of identity. A Guardians ward must be under the age of 18.
3) A Guardian and Coach are required to submit an Application for Certification. Information used in the Certification Application will be used to create your online GTP profile. A $100 Application Fee, as well as a $100 Annual Renewal Membership Fee is required to be Certified to the Association.
4) Once Certified, a Certified Guardian and Coach may execute Amateur Status Contracts. Amateur Status Contracts are uniform globally. The only parts of the Amateur Status Contract that will differ is negotiated total service provided by the Certified Coach to the Guardian and ward and the total amount of deferred compensation to be owed by the Certified Guardian to the Certified Coach.
5) All Amateur Status contracts can be converted to a Certified Guardians and Certified Coaches’ native language for a fee, however the English version will prevail if any discrepancies arise.
6) A Certified Guardian and Certified Coach will then execute an Amateur Status Contract together and submit to GTP for final approval. Deferred compensation is negotiable from Certified Guardian to Certified Coach only and contracts are executed between a Certified Guardian and Certified Coach ONLY. This ensures the Guardians ward maintains NCAA compliance per rule 12.1.2.1.6 of the NCAA manual.
7) Once acknowledged, accepted and approved by GTP, a Certified Guardian, ward and Certified Coach may go to work.
8) GTP will hold all deferred compensation on behalf of the Certified Coaches to collect from the Certified Guardian, beginning one year from the calendar quarter from which the contract concluded. Held deferred compensation accrues a 4% interest rate per year until paid in full.
9) At the commencement of the payment plan, GTP will notify Certified Guardian ten days prior to the close of the quarter of his or her required outstanding deferred compensation payment including interest per Step 13.
10) No Certified Guardian may accrue more than $100,000 aggregated deferred compensation under GTP with Amateur Status Contracts.
11) No Certified Guardian may have active Amateur Status Contracts with more than 3 Certified Coaches at any one time. No Certified Coach may have active Amateur Status Contracts with more than 10 Certified Guardians at any one time.
12) A Certified Guardian is required to begin a payment plan commencing one year from the calendar quarter with which their contract completed. For example, a one week contract that concluded April 9th, 2019 will begin payment on July 1st, 2020. Four Quarters in a year: Q1: Jan 1 – Mar 31; Q2: April 1 – June 30; Q3: July 1 – September 30; Q4: October1 – December 31.
| Repayment Category | Unpaid Balance of Deferred Compensation at Commencement Date or Retirement | Percentage of Deferred Compensation Commencement Date or Retirement due Quarterly |
|---|---|---|
| A | Over $0.00 but under $40,000.00 | 2.500% |
| B | $40,000.00 or more but under $60,000.00 | 1.875% |
| C | $60,000.00 or more | 1.250% |
13) This means, for Repayment Category A, a Certified Guardian who has accrued $40,000 deferred compensation in the months of January, February and March of 2019, that Certified Guardian is required to commence a payment plan on April 1st, 2020 of 2.5% per quarter of $40,000 or $1,000 per quarter or $4,000 per year to GTP. Per the Operating Agreement of Ethical Coaches and Players, if the Certified Guardian remains in Good Standing and makes all payments for 5 years in a timely manner, the Association and all Certified Coaches agree to either a balloon payment, or at the Associations discretion, to extend the payment plan and agrees to waive the remaining 2 years of payments for a 20% discount. For Repayment Program B, if a Certified Guardian remains in good standing and makes all payments of $1,125 per quarter (1.875%) on $60,000 deferred compensation for a period of 5 years in a timely manner, a balloon payment may be made, or at the discretion of the Association may extend the payment plan. If the plan is extended and good timely payments are made for an additional 3 years, the Association and Certified Coaches agree to waive the remaining two years of payments for a 20% discount. For Repayment Category B, if a Certified Guardian remains in good standing and makes all payments $1,125 per quarter (1.875%) on $60,000 deferred compensation for a period of 5 years in a timely manner, a balloon payment may be made, or at the discretion of the Association may extend the payment plan. If the plan is extended and good timely payments are made for an additional 6 years, the Association and Certified Coaches agree to waive the remaining two years of payment for a 20% discount. For Repayment Category C, if a Certified Guardian remains in good standing paying 1.25% of $100,000 each quarter which equates to $1,249 each Quarter or $5,000 each year for a period of five years in a timely manner, a balloon payment may be made, or at the discretion of the Association may extend the payment plan. If the plan is extended and good timely payments are made for an additional 11 years the Association and Certified Coaches agree to waive the remaining four years of payment due for a 20% discount.
Engagement + Contracts
FOR CERTIFIED ATHLETES WITHIN ATP/WTA TOP 150 OR ATP/WTA DOUBLES TOP 50 & CERTIFIED COACHES
Steps and requirements:
1) An Athlete and Coach must review, have their counsel review, understand and execute an Operating Agreement that governs GTP’s Association of Ethical Tennis Players and Coaches.
2) An Athlete seeking to execute Engagement + Contracts must either 1) be ranked within the top 150 ATP/WTA or top 50 Doubles ATP/WTA currently or within two years of todays date or 2) have successfully completed 9 months of Engagement Contracts with the same Coach.
3) An Athlete must be above 18 years of age to be Certified as an Athlete and provide valid proof of identity. (You may be under 18 however this requires express consent of GTP as well as your Guardian. Contact GTP for details and questions).
4) An Athlete and Coach are required to submit an Application for Certification. Information used in the Certification Application will be used to create your online GTP profile. A $100 Application Fee, as well as a $100 Annual Renewal Membership Fee is required to be Certified to the Association.
5) Once Certified, a Certified Athlete and Coach may execute Engagement + Contracts. Engagement Contracts are uniform globally. The only parts of the Engagement + Contract that will differ is negotiated total service provided by the Certified Coach to the Athlete and the total amount of deferred compensation to be owed by the Certified Athlete to the Certified Coach.
6) All Engagement + Contracts can be converted to a Certified Athlete and Certified Coaches’ native language for a fee, however the English version will prevail if any discrepancies arise.
7) A Certified Athlete and Certified Coach will then execute an Engagement + Contract and submit to GTP for final approval.
8) Once acknowledged, accepted and approved by GTP, a Certified Athlete and Certified Coach may go to work.
9) The Association will hold all deferred compensation on behalf of the Certified Coaches to collect from the Certified Athlete at a future date based on 15% of their future winnings and 10% of their future endorsement deals for services rendered ONLY. Held deferred compensation accrues a 4% interest rate per year.
10) At the end of each month, GTP will notify the Certified Athlete of his or her required outstanding deferred compensation payments on 15% of his or her winnings or 10% of endorsement deals for the previous month ONLY. This allows a Certified Athlete to pay what he or she can presently afford.
11) No Certified Athlete may accrue more than $175,000 aggregated deferred compensation under GTP through Engagement + Contracts.
12) No Certified Athlete may have active Engagement + Contracts with more than 1 Certified Coach. No Certified Coach may have active Engagement + Contracts with more than 1 Certified Athlete at any one time.
13) In the event a Certified Athlete is not able to pay back their accrued deferred compensation by their retirement, the Association and Certified Coaches agree to waive the remaining deferred compensation balance.
WOW Sports encourages you to get Certified today with GTP. It’s time to hold everyone accountable!
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