Chinese Poker tourney @ Planet Hollywood July 5th

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I got this information in an email and posted it to the Vegas poker site (which I cannot link) and is in no way meant to be spam. I figured some of you guys might find this interesting and maybe appealing.

Michael "The Grinder" Mizrachi presents The Grinder's Chinese Poker Tournament on Thursday July 5th at Planet Hollywood Poker Room.

35 players / 7 table max
$5000 buy in
Prize Structure:
50/25/15/10 (top 4 paid)
10,000 in tournament chips

Total of 20 levels

Each polint is represented by the amount on each level of play. (i.e: 1 point at level 3 is 150, 1 point on level 8 is 800, ect..)
Unit Levels increase every 16 hands
a) 8 hands of High Format (no royalties)
b) 8 hands of 2-7 lowball in the middle

Rules:

1) -2 points for a surrender
2) Players must act in turn except the surrendering player
3) 5 players per table (dealer button sits out)
4) -4 points for a fouled hand
5) Two minute time limit from the time the hand is dealt. -2 point penalty for exceeding the time limit
6) No resetting a hand once it is placed on the table.
7) Tournament will conclude when a player has obtained all the chips or at the conclusion of the 20th level
8) Prize structure 1st 50%, 2nd 25%, 3rd 15%, 4th 10%

10,000 total chips to start play

Levels 1- 20:
50
100
150
200
300
400
600
800
1000
1200
1600
2000
3000
4000
5000
6000
8000
10000
12000
16000

10 minute break after each two levels with a one hour dinner break at 7:30pm

6.4% of the total entry pool will be withheld for tournament fees. 1.6% of the total entry pool with be withheld for tournament staff (dealers/floor/td)

Management reserves all rignts in perpetuity.