The $6,000 is divided as follows: $3,000 for the first annual fee and $3,000 for the prepaid pass out fee. In the event of death, sale or the stallion owner electing to no longer participate in the program, the stallion’s prepaid pass out fee will be drawn on in order for the foals of the stallion’s last breeding year to be eligible. (If the stallion has been sold, please make the new owner aware of the program so he or she can take the appropriate action to keep the stallion current.)