Minimum Advertised Pricing Policy

 

PEN Brands LLC, formerly Nanofilm (“PEN”) takes great pride in its strong reputation among consumers as a manufacturer of top-quality lens care, electronic device care, anti-fog treatments, nano-coatings and other related nanotechnology surface treatment products. PEN has determined that certain advertising or promotional materials may affect our goodwill and damage the standards, reputation and value that PEN products have achieved. In order to avoid such damage, PEN has adopted this Minimum Advertised Pricing (“MAP”) Policy.  PEN believes that this MAP policy will allow all authorized resellers to profitably market and promote the value of PEN products.

 

Official MAP Policy and Guidelines:

 

  1. PEN reserves the right, at its sole and absolute discretion, to unilaterally enforce the MAP policy or take any other action with respect to any authorized reseller who violates the MAP policy.

 

  1. This MAP policy is a unilateral declaration of policy by PEN and does not constitute an agreement between PEN and any authorized reseller.

 

  1. A complete list of products covered by this policy (“MAP Products”) with the corresponding MAP retail price for each product can be found at PEN’s website: nanomagic.com/MAP.

 

  1. Listing a price below the MAP retail price shall be considered a violation of this MAP policy.

 

  1. MAP Products may only be advertised as standalone products and may not include any promotional allowances including, without limitation, rebates, coupons, free premiums, etc. that would reduce the advertised price to a value less than the MAP, except for promotions authorized by PEN in writing.

 

  1. This MAP policy applies to all forms of advertising in any and all media in any form including, but not limited to, magazines, catalogs, inserts, newspapers, flyers, posters, coupons, brochures, billboards, television, radio, internet websites or other e-commerce, e-mail and any other electronic or print media.

 

  1. This MAP policy also applies to any activity that PEN deems, at its sole and absolute discretion, is designed to circumvent this MAP Policy.

 

  1. A “click for price” button, “strike through pricing” or any other statement with regard to MAP Products that implies that a lower price may be found at the online checkout stage shall be deemed a violation of this MAP Policy.

 

  1. It shall not be considered a violation of this policy to advertise that a customer may “email for price” or “call for price” so long as no price is advertised.

 

  1. If a reseller has multiple locations, a violation at any location shall be deemed to be a violation by all of the reseller’s locations.

 

  1. PEN reserves the right to modify, suspend, or cancel this MAP policy at any time. PEN will provide notice of any modifications on the designated PEN website. It is the responsibility of all authorized resellers to monitor the designated PEN website for updates to this MAP policy.

 

  1. Resellers shall have five (5) business days to comply with any revisions to this MAP policy.

 

Penalties Guidelines:

 

In the event that an authorized reseller violates this MAP policy, PEN reserves the right, in its sole and absolute discretion, to take remedial measures as outlined in these Penalty Guidelines.  In addition, upon any violation of this MAP policy, PEN reserves the right, in its sole and absolute discretion, to deviate from these Penalty Guidelines and take any of the following remedial measures as it sees fit.  

 

1st Violation: PEN will issue a warning letter to the offending reseller.

 

2nd Violation: PEN may suspend the reseller’s right to sell PEN products for a period of time to be determined by PEN at its sole and absolute discretion (e.g. thirty (30), forty-five (45) or ninety (90) days. 

 

3rd Violation: PEN may suspend the reseller’s right to sell PEN products for a period of 365 days.

 

4th Violation: PEN may indefinitely suspend reseller’s right to sell PEN products.

 

 

Effective Date: May 1, 2019