MAP

Original WaterParka MSRP: 149 ( MAP 149)

Surfcheck Hoodie MSRP: 99 (MAP 99)

In order to preserve its reputation for providing customers with high value products and strong
after-sales support, and to further enhance the Surf-fur brand image and its competitiveness in the
marketplace, Surf-fur is unilaterally instituting a policy of minimum advertised price standards for Surf
fur products. This Minimum Advertised Price (MAP) will become effective February 2016 and will
apply to distributors and retailers, including catalogs and internet retailers (collectively, “Resellers”),
who resell Surf-fur products to end users located in the United States.

Surf-fur greatly appreciates the efforts of all Resellers to distribute Surf-fur Products and
support our customers. This MAP Policy is adopted for the benefit of all Resellers and will be uniformly
enforced.

This MAP Policy shall work under the following guidelines:

1. Surf-fur publishes a Schedule of Manufacturer’s Suggested Retail Prices (MSRP) on a catalog cut
sheet available at any time by request. The catalogue cut-sheet may be amended or adjusted by Surf
fur at any time in its sole discretion. The MSRP Schedule will identify the effective date, the products
and the manufacturers suggested retail price (MSRP) for those products. Each advertisement of a
product identified in the MSRP Schedule below the MAP will be a violation of the MAP Policy.

2. This MAP Policy applies to all advertisements of Surf-fur products in any and all media, including, but
not limited to, flyers, posters, coupons, mailers, inserts, newspapers, magazines, catalogs, mail order
catalogs, e-mail newsletters, e-mail solicitations, internet or similar electronic media, television, radio,
and public signage. This MAP policy is not applicable to any in-store advertising that is displayed only in
the store and not distributed to any customer(s).

3. The inclusion in advertising of free or discounted products (whether made by Surf-fur or another
manufacturer) with a product covered by this MAP Policy would be contrary to this MAP policy if it has
the effect of discounting the advertised price of the covered Surf-fur product below the MAP.

4. If pricing is displayed, any strike-through or other alteration of the MSRP that is paired with a
discount price below the MAP is prohibited.

5. This MAP policy does not establish maximum advertised prices. All resellers may offer Surf-fur
products at any price in excess of the MSRP.

6. Internet auctions may not display or have reserved bid or other acceptable prices below the MAP.

7. Pricing listed on an internet site is considered an “advertised price” and must adhere to this MAP
policy. Once the pricing is associated with an intent to purchase (added to shopping cart or order), the
price becomes the selling price is not bound by this MAP policy. Statements such as “add to basket to
see price”, “we will match any price”, “call for price” or phrases of similar import are acceptable as long
as the price advertised or listed for the products is not below the MAP. In addition, discounts applied at
checkout to the entire order based on a customer’s purchasing history with the Reseller, such as
discounts for frequent shoppers”, do not violate this MAP Policy.

8. This MAP policy is solely within Surf-furs’ discretion and authority acting through the duly authorized
managers of Surf-fur. No employee or sales representative of Surf-fur has any authority to discuss,
modify or grant exceptions to this MAP Policy. Any representation or action by any employee, sales
representative or persons not specifically authorized to discuss, modify or grant exceptions to this MAP
Policy under this paragraph is unauthorized and invalid. All questions about this MAP policy should be
in writing and directed via e-mail at customerservice@surf-fur.com.

9. Surf-Fur reserves the right to adjust the MSRP with respect to all or certain products at its sole
discretion.

10. Intentional or repeated failure to abide by this MAP policy will result in sanctions unilaterally
imposed by Surf-fur. The level of sanctions will be determined by Surf-Fur in its sole discretion and will
include indefinite termination of dealership or distributorship. Surf-fur does not do business with
resellers who degrade the image of Surf-fur and its products. Surf-fur need not provide prior notice or
issue warnings before taking any action under the MAP Policy.

11. Distributors of Surf-Fur products will supply a copy of this MAP Policy to any new or existing
Reseller for their records.

12. This MAP Policy has been established by Surf-Fur to help ensure the legacy of Surf-Fur as a top
producer of high quality products and to protect the reputation of its name and products. This MAP
Policy is also designed to avoid destructive intra-brand conflict and to ensure that dealers and
distributors have the incentive to invest resources into Surf-fur products.

Thank-you,
Cynthia Issel
CEO, Surf-fur