Heck, this one is easy... CJ, Jr & Gloria get to be BoD members for life.. collect their $200-250k per yr for saying 'you bet' at a few meetings every yr.. let the cheap options mount, and sell them if/when the sp happens to appreciate.

And this differs from their current situation how? Oh, currently they have virtually no risk of losing their positions, but with TPL, they could be gone on a whim, and they'd never have any control of their destiny.

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I never get an answer, other than something ambiguous - ignoring the legalities.

Is the above full of illegalities?

Yes. After all that Cook (TPL's "agent"), Lecky himself, and PTSC management has publicly said about the value of the MMP, if a transaction were to occur that seriously undercut that value to PTSC (and its shareholders), there would be a list of "illiegalities" to contend with - civil and probably criminal - felonies (fraud, conspiracy to defraud, collusion, failure to perform fiduciary duty in a public company, etc.).

Again, a fair deal is fine. An unfair deal is riddled with probable problems that - if nothing else - would probably stop further licensing activity in its tracks for some lengthy period of time. Now tell me again about those incentives.

JMHOs,

SGE