The most important part of any negotiation is the prep work you're gonna do beforehand. And if you'd like, our motto here is be like a boy scout. That is, be prepared. And so what does be prepared mean in the context of the Zincit case? Well, you obviously have to know what your expected payoffs are for each of the five options. But it's not enough to know just your own payoffs. You should also calculate the payoffs for the other side. So let's do that for each of the five options. For option A, it's incredibly easy. It's a $25 million pay off, and so there's not much to calculate. 25 million is 25 million. For option B, it's 20 million up front with a $15 million bonus. So what's that worth to Hasan? Well 60% chance of a $15 million bonus is worth 9 million. And so therefore, this package is $29 million to Hasan. What does it cost Zincit? Well, at 10% chance of having to payout the $15 million bonus is 1.5 million. So the expected cost to the buyer is $21.5 million. And we can do that for each of the options going down the list. Option C is 20 up front with a 10 million bonus. So that's worth 26 million to Hasan. That costs 21 million to the buyer. Option D is 17 million up front with a 15 million bonus. The 15 million bonus is worth 9 to Hasan. So 17 + 9 = 26. The same value as option C. And the cost of option D to the buyer is 17 + 1.5, so it's only 18.5 million to the buyer. The last option E, is 12 + 20, the $20 million bonus is worth 12 to Hasan. So 12 +12 is 24. And the cost to the buyer is incredibly low because the $20 million bonus only costed $2 million. $2 Million from the bonus and 12 upfront is 14. So we have this list of what the expected value is to each party from the five offers. The next thing we wanna do is compare that to what they would get if they didn't get a deal. Because we don't really care about the payoffs on their own, we care about how much better these payoffs are compared to no deal at all. So option A, which is 25 and 25 is $5 million better for Hasan than not doing the deal which is worth 20 to him. And for the buyer, the buyer is willing to pay 30. So at 30, that's his reserve price. He's indifferent between the deal and walking away. And so 25 for him is $5 million better than no deal at all. Let's look at option B. Option B is worth $29 million to Hasan. So therefore, that's 9 better than no deal. But since option B only costs the buyer $21.5 million, that's $8.5 million better than no deal. So option B is 9 for Hasan, 8.5 for the buyer. Option C is 26 for Hasan, so that's 6 better than no deal. But since option C only costs 21 million, it's 9 million better for the buyer compared to no deal at all. Option D again, is worth 26 to Hasan, so that's 6 better than no deal. But since it only cost the buyer 18.5, that's 11.5 better than 30. And so from the buyer's perspective, option D is a value of 11.5. And lastly, option E is worth 24 to Hazan, so that's 4 better than 0. And from the buyer, paying 14 is 16 better than paying 30. And so what I'd like you to do is forget about what all the payoffs are in absolute terms. And entirely focus on what the payoffs are relative to doing no deal, to what the reserve prices are. If we go back to the video where we had Swank and thinking about how much it was worth him doing the ad versus not doing the ad. We don't think about it as, he's getting $500 a day. We think about it as, it's $200 better than his walk away, his reserve price. And that's how I want you to frame everything when you go into a negotiation. So that you're ready to think about how much better each deal is than no deal at all. Now, in doing these numbers, I've left out the payments to the lawyer. And frankly, we should put them in there. And so here's the new slide where we add the payments to the lawyer. They don't change numbers very much because a lawyers getting 5% but of course, you want to have those numbers in your calculations as well.