It's simply a matter of timing ... when negotiattions take place toward the end of the year ... it's usually known if the stallion prospect has already earned HOTY ... so the actual award makes little difference.

If negotiations take place early in the year ... there'll be a bonus clause. If the horse doesn't earn HOTY ... there's no bonus. If he does earn HOTY ... the bonus applies ... but ... the owner probably would have done just as well without the bonus if he had waited 'til the end of the racing season.