Recognizing that private associations of members of a particular industry gave been recognized by the Supreme Court of the United States as posing "a serious potential for anti-competitive" conduct, The Parlay Group has adopted Bylaws committing itself and its members "to open competition" and specifically directing that "the purposes and object of the corporation prohibit" discussions or activities on any topic "which could have an adverse impact on national or international competition or trade or could violate any national or international law regarding competition or trade. With these considerations in mind, and being committed to respect for and adherence to the Antitrust Laws of the United States and any other nation in which its members are either domiciled or conduct their business, The Parlay Group hereby issues the following guidelines for its members and their representatives in connection with their activities as members, and participants in the work, of The Parlay Group.

1. Neither The Parlay Group nor any of its committees or activities shall be used for the purpose of bringing about or attempting to bring about any understanding or agreement, written or oral, formal or informal, express or conditions of sale, distribution, volume of production, territories, customers, credit terms or marketing practices.



2. There shall be no discussion, communication or other exchange between members of The Parlay Group and /or their representatives of prices, pricing methods, production quotas or other limitations on either the timing, costs or volume of production or sale, or allocation of territories or customers.



3. No activity or communication of The Parlay Group or any of its members or representatives thereof shall include any discussion which might be construed as an agreement or understanding to refrain, or to encourage a member to refrain, from purchasing any raw materials, equipment, services or other supplies from any supplier or from dealing with any supplier.



4. No Parlay Group activity or communication, or that of its members or the representatives thereof, shall include any discussion which might be construed as an attempt to prevent any person or business entity from gaining access to any market or customer for goods and services, or to prevent any business entity from obtaining a supply of goods and services, or otherwise purchasing goods or services freely in the market.



5. The qualifications for membership in The Parlay Group are set in the Bylaws of The Parlay Group. No applicant for membership, who otherwise meets the qualifications set forth therein, shall be rejected for any anti-competitive purpose or for denying such applicant the benefits of membership.



6. The Parlay Group is not a standard-setting organization and neither it nor any committee or member thereof shall make any effort to bring about the standardization of any product or service for the purpose or with the effect of preventing the manufacture, sale or supply of any product or services not conforming to a specified standard, it being the express policy of The Parlay Group that it shall not compel or coerce any member into accepting or complying with any standard either adopted, recognized or approved by The Parlay Group.



7. To the extent that The Parlay Group through its committees and membership, develops or approves specifications which, if followed, will permit specific equipment and service to interoperate with any other equipment, service or network, adherence to such specifications shall be voluntary on the part of the members of The Parlay Group and shall in no way be compelled, directed or coerced by The Parlay Group or any committee thereof, it being solely a voluntary decision on the part of the particular member or members of The Parlay Group as to whether to adhere to or comply with any such specifications.



8. Any specifications which may be developed or approved by the membership of The Parlay Group in order to effectuate the purposes of The Parlay Group based solely and exclusively upon technical considerations and upon the merits of objective expert judgments and thorough procedures and shall in no way be based upon any effort, intention or purpose of any of its members to reduce or eliminate competition in the sale, supply and furnishing of products and services.



9. Neither The Parlay Group nor any committee thereof shall impose sanctions for the violation of, nor shall they enforce compliance with, standards or specifications developed, promulgated, recognized or approved by The Parlay Group.



10. If information, materials or reports of The Parlay Group, or any of its committees, for the use of the membership is significant to non-members or others in the industry, then such information, material and reports may be made available by The Parlay Group to all such persons, on such reasonable terms and conditions as it may prescribe, in order to carry out its purposes and objectives as set forth in the Bylaws of The Parlay Group.



11. To the extent that the purposes of The Parlay Group, as set forth in its Articles of Incorporation and Bylaws, require, for The Parlay Group's purposes and objectives, joint research and development by two or more of its members, or representatives thereof, any such joint research and development for The Parlay Group shall exclude the following activities:



• the exchange of information among competitors relating to costs, sales profitability, prices, marketing or distribution of any product, process, or service;



• any agreement or any other conduct restricting, requiring, or otherwise involving the production or marketing by any member of The Parlay Group of any product, process or service, other than the production or marketing of proprietary information developed through such joint research and development, such as patents and trade secrets; and



• any agreement or any other conduct restricting or requiring the sale, licensing or sharing of inventions or developments not developed through such joint research and development, that is not reasonably required to prevent misappropriation of proprietary information contributed by any member of The Parlay Group, or representative thereof, or of the results of such joint research and development.



12. Each member, and any new member, of The Parlay Group shall be supplied with a copy of these Guidelines and agrees to abide by them.