Nautilus 2003 Annual Report Download - page 85

EIGHTH AMENDMENT TO LICENSE AGREEMENT
This Eighth Amendment (hereafter, “Amendment”) is made this 22
nd
day of October, 2003, and amends the License Agreement by and
between Piaget Associates, L.L.C. (hereinafter “Licensor”) and The Nautilus Group, Inc., formerly known as Direct Focus, Inc. (hereinafter,
“Licensee”), such License Agreement dated April 26, 1999 (hereafter “Agreement) and amended by the First Amendment on October 7, 1999,
Second Amendment of April 26, 2000, Third Amendment of April 11, 2001, Fourth Amendment of October 4, 2001, Fifth Amendment of
December 31, 2002, Sixth Amendment of May 2, 2003, and Seventh Amendment of May 2, 2003.
NOW THEREFORE, for One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. As a result of the assignment by Gary Piaget to Nautilus, Inc. of his entire right, title and interest in and to U.S. Patent No. 5,626,539 entitled
“Treadmill Apparatus With Dual Spring-Loaded Treads,” the Agreement and any and all Amendments are revised to read as follows:
In section 1.1, line 3, after “U.S. Patent Des. 406,621” delete “U.S. Patent 5,626,539.”
2. In the event of a conflict between the terms and conditions of this Amendment, and those contained in the Agreement, as amended by the
previous five amendments, the provisions of this Amendment shall govern.
3. All other terms and conditions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment to be effective as of the date first written above.
EXHIBIT 14
PIAGET ASSOCIATES, L.L.C.
THE NAUTILUS GROUP, INC.
By: /s/ Gary D. Piaget By: /s/ Gregg C. Hammann
Name:
Gary D. Piaget
Name:
Gregg C. Hammann
Title:
Owner
Title:
President and CEO
The Nautilus Group, Inc.
Code of Business Conduct and Ethics
1.
Purpose
This Code of Business Conduct and Ethics (this “Code”) provides a general statement of the Company’s expectations regarding the
ethical standards that each employee, officer and member of the Board of Directors (“director”) should adhere to while acting on behalf
of the Company.
2. Administration
The Company’s Board of Directors or designated board committee is responsible for setting the standards of business conduct contained
in this Code and updating these standards as it deems appropriate to reflect changes in the legal and regulatory framework applicable to
the Company, the business practices within the Company’s industry, the Company’s own business practices, and the prevailing ethical
standards of the communities in which the Company operates. While the Company’s Board of Directors or a designated board committee
will oversee the procedures designed to implement this Code to ensure that they are operating effectively, it is the individual
responsibility of each employee, officer and director to comply with this Code.
3.
Compliance with Laws, Rules and Regulations
The Company will comply with all laws and governmental regulations that are applicable to the Company’
s activities, and expects that all
persons acting on behalf of the Company will obey the law. Specifically, the Company is committed to:
•
maintaining a safe and healthy work environment;
• promoting a workplace that is free from discrimination or harassment based on race, color, religion, sex or other factors that are
unrelated to the Company
’
s business interests;
•
supporting fair competition and laws prohibiting restraints of trade and other unfair trade practices;
•
conducting its activities in full compliance with all applicable environmental laws;
•
keeping the political activities of the Company
’
s employees, officers and directors separate from the Company
’
s business;
Code of Business Conduct and Ethics
1