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<span style="font-family: arial, helvetica, sans-serif">Dear Pelican Customer,</span></p>
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<span style="font-family: arial, helvetica, sans-serif">As part of the Pelican Partner Program, we are pleased to announce improvements to our rebate program for 2011. This year we are offering a three tier rebate program instead of two. All eligible and qualifying dealers will achieve rebates once they surpass each of the revenue thresholds shown below:</span></p>
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<span style="font-family: arial, helvetica, sans-serif">Sales > $50K - $250K:</span></td>
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<span style="font-family: arial, helvetica, sans-serif"><font face="">Rebate = 2.00%<span style="display: none"> </span></font></span></td>
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<span style="font-family: arial, helvetica, sans-serif">Sales > $250K - $1M:<span style="display: none"> </span></span></td>
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<span style="font-family: arial, helvetica, sans-serif"><font face="">Rebate = 4.25%<span style="display: none"> </span></font></span></td>
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<span style="font-family: arial, helvetica, sans-serif">Sales > $1M+:<span style="display: none"> </span></span></td>
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<span style="font-family: arial, helvetica, sans-serif">Rebate = 6.00%</span></td>
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<span style="font-family: arial, helvetica, sans-serif">Under this new and improved ‘three tier’ structure, dealers will begin accruing rebate dollars once they achieve $50K in 2011 invoiced purchases. As dealers achieve a revenue tier they will immediately qualify, back to Dollar one for the amount of rebate associated with their level of revenue. Below are a few examples of rebate tiers for you to reference:</span></p>
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<span style="font-family: arial, helvetica, sans-serif">Example 1. Dealer purchases $50K but does not exceed $250K during the 2011 calendar year:</span></li>
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<span style="font-family: arial, helvetica, sans-serif">a. Once a dealer reaches $50K in invoiced purchases, they qualify for a 2% rebate paid for their total sales YTD at the end of the quarter in which they achieved $50K. In any subsequent quarters, they would be paid 2% for that quarter’s business.</span></p>
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<span style="font-family: arial, helvetica, sans-serif">Example 2. Customer reaches $50K and subsequently exceeds $250K during the year:</span></li>
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<span style="font-family: arial, helvetica, sans-serif">a. Once a customer reaches $50K sales, they will have 2% rebate paid for their total sales YTD at the end of the quarter in which they achieved $50K. In any subsequent quarters, they would be paid 2% for that quarter’s business, until they surpass $250K. When that occurs, customers will be entitled to 4.25% rebate back to DOLLAR ONE. The “true up” will occur at the end of the current quarter in which the revenue milestone is reached. Mechanically, Pelican will pay an additional 2.25% for the sales that had already been paid out and 4.25% on sales that had not received rebates.</span></p>
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<span style="font-family: arial, helvetica, sans-serif">Same exercise will apply for the customers that eventually reach $1 million.</span></li>
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<span style="font-family: arial, helvetica, sans-serif">Pelican values all our customers and by extending this 2011 rebate program we are recognizing your continued support of our world class products and growth objectives. Good luck in 2011 and thank you for promoting Pelican across the globe.</span></p>
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<span style="font-family: arial, helvetica, sans-serif">Sincerely,<br />
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<img align="none" alt="StephanCorti" border="0" height="68" hspace="0" src="http://img-ak.verticalresponse.com/media/f/6/0/f606bc1e43/02469d5860/3bcde56f1f/library/StephanCortiSignature.jpg?__nocache__=1" style="width: 203px; height: 68px" title="StephanCorti" vspace="0" width="203" /></span></p>
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<span style="font-family: arial, helvetica, sans-serif">Stephan Corti<br />
Senior Vice President of Worldwide Sales<br />
Pelican Products</span></p>
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Pelican Products Inc.<br/>
23215 Early Avenue<br/>
Torrance, CA 90505<br/>
United States<br/>
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