Slow_feet... Correction of payout sharing formula
Below is the exact amount that PTSC will receive based on the Gross Cash Receipts (denoted as X). I quoted the Operating Agreement incorrectly on my posting on Agoracom, so that my have thrown off your previous formulae:
For Gross Cash Receipts per quarter > $200M
PTSC = $20M + 0.5(X - TDRE - CEXP - $20M - 0.15(X-TDRE))
Thus,
PTSC = ($10M - (0.425(TDRE) + 0.5(CEXP)) + 0.425(X)
For Gross Cash Receipts per quarter < $200M
PTSC = 0.1X + 0.5(X - TDRE -CEXP -0.1X - 0.15(X-TDRE))
PTSC = -(0.425 TDRE + 0.5 CEXP) + 0.475 (X).
Definitions:
X = Gross Cash Receipts
TDRI = TPL Directly Reimburseable Expenses
CEXP = Company (P_Newco)'s direct operating expenses and the contributions to the Working Capital Fund.
Thus, assuming that TDRE and CEXP are not functions of X (and there is no reason why they should be), the amount that PTSC gets of every dollar of gross receipts if the total is below $200M will be 47.5% less the PTSC's share of the amounts payable for TDRE and CEXP. If the gross receipts exceed $200M per quarter, PTSC will be receiving 42.5% plus the excess of $10M over its share of the TDRE and CEXP.
Note the functions are linear with respect to the Gross Cash Receipts, unless somehow TDRE and CEXP become functions of the Gross Cash Receipts.
The $200M base line makes me suspect that the Intel licence agreement will result in total payments of $200M. But I could be wrong about that.
Knixx_99