Investor Relations

Contracts

PLKI policy:

PLKI must not be exposed to undue contractual risk, especially risk that is beyond our control.

As a result:

Before entering into any contracts on behalf of PLKI, employees should:

  • determine whether they have the proper authority;
  • analyze and quantify all risks, to the extent possible;
  • limit potential risks by ensuring that contracts contain realistic and practical indemnity terms, insurance provisions, and operating procedures; and
  • seek legal review of all contracts and agreements entered into on behalf of PLKI.

In addition:

The Office of General Counsel must review every contract in advance that involves any of the following:

  • intellectual property (e.g., trademarks, trade secrets, copyrights, and confidential and proprietary information) owned by PLKI or by a third party;
  • proposed perpetual renewal rights or a term of more than three (3) years;
  • real property; indemnity and/or hold harmless obligations of PLKI;
  • release of rights by or against PLKI;
  • PLKI guaranty or the personal guaranty of a PLKI employee, director or officer; or,
  • aggregate payments totaling over $50,000.