TOURNAMENTS  SECTION XII - WTA TOURNAMENT MEMBERSHIPS First Change of Location takes effect (i.e. the requested change of location  would be effective prior to the fifth edition of the Tournament in its current  location) and the Board of Directors approves the request (a “Second Change  of Location”), such approval shall be subject to payment of a fee in accordance  with the below schedule. The Board of Directors retains the discretion to  waive or reduce such fee and/or collect all or part of the fee in installments. If a member makes a request for a change of location for a membership  within five (5) years after the start of the calendar year in which an approved  Second Change of Location takes effect (i.e. the requested change of location  would be effective prior to the fifth edition of the Tournament in its current  location), the WTA will have the right to purchase such membership at a price  equal to the average purchase price paid solely for memberships of the same  Tier level and within the same geographic region (i.e., Americas, Europe, or  Asia-Pacific) over the same 5-year period. If the Board of Directors elects not  to exercise the right to purchase such membership and approves the request  (a “Third Change of Location”), such approval shall be subject to payment of a  fee in accordance with the below schedule. The Board of Directors retains the  discretion to waive or reduce such fee and/or collect all or part of the fee in  installments. WTA 1000 Mandatory WTA 1000  Non-Mandatory WTA 500 WTA 250 $1,350,000 $600,000 $210,000 $100,000 WTA 1000 Mandatory WTA 1000  Non-Mandatory WTA 500 WTA 250 $2,700,000 $1,200,000 $420,000 $200,000 If a member makes a request for a change of location for a membership within  five (5) years after the start of the calendar year in which an approved Third  Change of Location or any subsequent change of location takes effect (i.e.  the requested change of location would be effective prior to the fifth edition  of the Tournament in its current location), the WTA will have the right to  purchase such membership as set out above for a Third Change of Location  or, in the alternative, if the Board of Directors elects not to exercise the right  to purchase such membership and approves the request, such approval shall  be subject to payment of double the full amount of the fee applicable to  the immediately prior change of location. The Board of Directors retains the  discretion to waive or reduce such fee and/or collect all or part of the fee in  installments. The following shall not be deemed a change of location for the purpose of this  Section 4: (a) a change of venue within 125 miles of the original venue unless  otherwise determined by the Board of Directors; (b) Tournaments which have  224