Background

Unusual provenance — SEC filing as public-disclosure vehicle for an MLB player contract. The Heaney contract became a public document because CIK 1573683 (almost certainly Fantex Holdings or a Fantex-affiliated entity) filed it as a material contract exhibit under SEC Regulation S-K Item 601. Fantex was creating 'brand-stock' tied to individual athletes' future earnings during 2014-15; the 'Andrew Heaney Series' would have securitized a percentage of Heaney's future contract earnings into publicly-traded shares. The Heaney UPC was filed as Exhibit 10.28 because it was a 'material contract' for the filer — a contract whose performance materially affected the filer's revenue. This is a rare provenance path; virtually no other MLB player contracts are publicly filed, and the Fantex era (2013-2016) is essentially the only window during which a substantial number of actual player UPCs became public via SEC disclosure. This is the only executed, real-world UPC in the archive (vs. the blank template at 2006-12-20_contract_uniform-player-contract-template-2007-2011-cycle): every blank from the template (parties, term, salary, special covenants) is filled in. The salary ($509,250) is a near-minimum pre-arbitration salary, reflecting Heaney's status as a recently-debuted pitcher (he debuted with the Marlins in 2014, was traded to the Dodgers, then to the Angels in the Howie Kendrick deal in December 2014; this was his first contract with the Angels). The Life Insurance Notice and Consent Form is a rarely-discussed detail: the Club holds a life insurance policy on the Player, with the Club as sole beneficiary, to offset Club exposure under the contract. California governing law / Orange County venue is a notable contractual choice. Justin Hollander signed for the Club as Director of Baseball Operations; Hollander later joined the Mariners in 2018 and was named GM in 2023.

Key provisions

• Parties (page 1): Angels Baseball LP (Club), Andrew M. Heaney (Player). Player home address redacted as '[***]'.
• Term (Special Covenant I, page 5): 2015 Championship Season (single-year contract).
• Major League Salary (Special Covenant II, page 5): $509,250 for 2015 — a Major League minimum-salary-adjacent contract for a pre-arbitration player.
• Minor League Salary (Special Covenant II, page 5): $92,548/year flat across all minor-league levels (AAA, AA, Full Season A, Short A, Rookie Advanced, Rookie) — substantially above the standard pre-2023 MiLB pay rates that the Save America's Pastime Act later codified, reflecting that Heaney was an established Major League prospect.
• Award Bonus (Special Covenant III, page 5): $10,000 if selected to the 2015 All-Star Game (by traditional fan voting, player voting, manager selection, injury replacement, or Final Vote).
• Paragraph 1 — Employment: standard UPC employment clause.
• Paragraph 2 — Payment: references Article VI(A)(1)-(3) of the December 12, 2011 Basic Agreement (the 2012-2016 CBA) for minimum-rate provisions.
• Paragraph 4(a) — Ability: standard 'exceptional and unique skill and ability' representation.
• Paragraph 5(b) — Other Sports: standard prohibition on professional boxing/wrestling, skiing, auto racing, motorcycle racing, sky diving, football, soccer, basketball, hockey, or other substantial-risk sports without Club consent.
• Paragraph 7(b) — Termination by Club: standard sufficient-skill / competitive-ability / waivers framework.
• Paragraph 10 — Renewal: standard reserve-clause renewal mechanism with Central Tender Letter procedure.
• Special Covenant IV — Payroll Deduction: Club authorized to deduct from salary for (A) unpaid hotel charges + $25 service charge donated to charity of Club's choice per occurrence; (B) Club advances; (C) other Club-paid Player items.
• Special Covenant IV — Governing Law / Venue: California law, Orange County jurisdiction — a notable contractual choice given the Angels' Anaheim base.
• Approval clause (page 7): contract not valid until approved by Commissioner.
• Signatures (page 7): /s/ Andrew Heaney, /s/ Justin Hollander (Dir of Baseball Operations, signing for Angels Baseball LP). Signed February 26, 2015.
• Regulations 1-8 (page 8): standard UPC regulations including playing season scope, physical examination requirements, uniforms, expense allowances, fine/suspension authority, training reporting, assignment reporting, life insurance consent.
• Major League Rule 18(b) (page 8): post-season exhibition games provision; max 30 days, max 3 players per Club on same team.
• Life Insurance Notice and Consent Form (page 9): authorizes Club to insure Heaney's life for the Major League salary amount up to $1M plus 75% of salary above $1M, capped at $30M maximum face amount. Club is sole beneficiary; insurance offsets Club exposure in the event of Player death. Heaney's date of birth and home address redacted.

Notable provisions

Between Angels Baseball LP, herein called the Club, and Andrew M. Heaney of [***], herein called the Player.— Heaney UPC, Parties (page 1)

This Contract shall cover the following Championship Seasons: 2015— Heaney UPC, Special Covenant I — Term (page 5)

Major League Salary: Year 2015 — $509,250— Heaney UPC, Special Covenant II (page 5)

If Player is selected to participate in the mid-season All-Star Game (whether by traditional fan voting, voting by his player peers, selection by the All-Star manager, as a substitute for an injured player or as the internet 'Final Vote' by the fans), Club shall pay Player a bonus of Ten Thousand Dollars ($10,000).— Heaney UPC, Special Covenant III — Award Bonuses (page 5)

Your Club intends to insure your life under a life insurance policy (the 'Policy'). The purpose of the Policy is to offset amounts that the Club may pay under your Uniform Player's Contract ('Player Contract') in the event of your death.— Heaney UPC, Life Insurance Notice and Consent Form (page 9)

The maximum amount of life insurance coverage for which you may be insured at the time the Policy is issued will be equal to the sum of: The Major League salary provided under your Player Contract, up to one million dollars ($1,000,000) and (if applicable) Seventy-five percent (75%) of the amount by which the Major League salary provided under your Player Contract exceeds one million dollars ($1,000,000.00). In no event will the amount for which your life is insured under the Policy ever exceed a maximum limit of thirty million dollars ($30,000,000.00).— Heaney UPC, Life Insurance Notice and Consent Form (page 9)

Further context

Andrew Heaney Executed UPC (Angels, February 26, 2015)

The only executed Uniform Player's Contract in the archive — a real player contract, not a template. Sourced from SEC EDGAR as Exhibit 10.28 in a filing by CIK 1573683 (almost certainly a Fantex Holdings or Fantex-affiliated entity that had securitized Heaney's future earnings into brand-stock).

Why this exists publicly

Fantex (active 2013-2016) created publicly-traded "brand stocks" tied to individual athletes' future earnings — Vernon Davis, EJ Manuel, Mohamed Sanu, and others. When a Fantex-affiliated entity bought a percentage stake in an athlete's earnings, the underlying player contract became a "material contract" subject to SEC Regulation S-K Item 601 disclosure. That's how the Heaney UPC became a federally-filed public document.

It's an unusual sourcing path. The Fantex era is essentially the only window during which a substantial number of actual MLB player UPCs became public via SEC filings.

What's filled in (vs. the template blanks)

• Parties: Angels Baseball LP / Andrew M. Heaney (home address redacted)
• Term: 2015 Championship Season
• MLB salary: $509,250 (near-minimum for a pre-arbitration player; 2015 minimum was $507,500)
• MiLB salary: $92,548/year, flat across AAA through Rookie
• All-Star bonus: $10,000 if selected
• Hotel-misuse penalty: $25/occurrence donated to charity of Club's choice
• Governing law: California; venue: Orange County
• Signed for Club: Justin Hollander, Director of Baseball Operations (later GM of the Mariners)
• Signed by Player: Andrew Heaney, February 26, 2015

The life insurance clause

The Life Insurance Notice and Consent Form (page 9) is rarely discussed publicly. The Club takes out a policy on the Player's life, with the Club as sole beneficiary, to offset the Club's contract exposure. Maximum coverage: $1M plus 75% of the salary above $1M, capped at $30M total face amount.

Why this document is useful

This is the only document in the archive that shows what a UPC looks like when signed and operative. Every blank in the template is filled in, with the specific dollar figures (the $509,250 salary, the $10K All-Star bonus, the $25/occurrence hotel fine, the $30M life-insurance cap) preserved in the executed form.

The Fantex securitization context is itself notable: a window during which retail investors could buy publicly-traded shares tied to an MLB player's future earnings.

Related documents

• 2006-12-20_contract_uniform-player-contract-template-2007-2011-cycle.md — the prior-cycle template; Heaney's contract is on the next-cycle template referencing the 2012-2016 CBA.
• 2022-03-10_cba_mlb-cba-2022-2026.md — the current CBA; Article III is the operative UPC location.

Verification status

needs_review. Single source (SEC EDGAR). The EDGAR authentication is strong, but second-source confirmation pending (would require another publicly-filed copy of the same Heaney contract).

Related documents

Related documents

UPC Template (2007-2011 cycle), 2022–2026 MLB Basic Agreement, Major League Rules 2026

Source provenance

• Primary source