Ben Baller IPO Official Rules

01.22.2019 – 01.24.2019

1. Eligibility: The Ben Baller IPO (the “Auction”) is open to persons who are at least eighteen (18) years of age or older.

This Auction is subject to all applicable laws and regulations (as applicable) and is void where prohibited.  Participation constitutes bidder’s full and unconditional agreement to these Official Rules and StockX LLC’s (“Sponsor”) decisions, which are final and binding in all matters related to the Auction.  The right to purchase the Goods (as defined below) is contingent upon fulfilling all requirements set forth herein.

2. Sponsor: StockX LLC, 1046 Woodward Avenue, Detroit MI 48226; [email protected].
3. Auction Period:  The Auction begins on Tuesday, January 22, 2019, at 10:00 am Eastern Standard Time (“EST”) and ends on Thursday, January 24, 2019, at 11:59 pm EST (the “Auction Period”).

All bids must be submitted during the Auction Period for the Goods as described below to be valid.

4. How to Bid:   The Auction is a blind Dutch auction.

During the Auction Period, to make a bid to purchase the Goods, go to StockX mobile app, or StockX.com, log in to your account (or create one for free) and place a bid as a buyer for any pair of Ben Baller Slides (Red or Black with white text, men’s sizes 5-13) (collectively, the “Goods”). To be eligible to win the Goods, you must place at least the Minimum Bid on each applicable pair of Goods. The Minimum Bid is $50. At the time you place the bid, you will not make any payment. During the Auction Period, you may modify or cancel your bid at any time.

For each size and color of the Goods, the applicable product page will indicate the number of Goods that will be eligible to win the Auction (e.g., ten pairs of Ben Baller Red Slides in size 10 will be available to be won at auction) (the “Available Amount”). Following the Auction Period, the number of highest bidders for each pair of Goods equal to the Available Amount will win the applicable Goods (as applicable, the “Winners”). The Winners of a pair of Goods will be charged and responsible to pay the price bid by the lowest bidder amongst the applicable Winners (the “Clearing Price”) of such Goods.

For example, if there for are seven (7) pairs of a black size 7 pair of Ben Baller slides available for auction, and the top eight (8) bids for such Goods are as follows:

then, in the example above, the Clearing Price would be $300, which is the lowest price bid by a Winner. In the example above, Winners 1-6 pay the Clearing Price, even though they bid higher than the Clearing Price. Furthermore, bidder 8 (and any other bidders who bid lower than the Clearing Price) will not win the Goods.

In the event that the number of bidders placing an identical bid amount which would otherwise equal or exceed the Clearing Price exceeds the Available Amount, then Winners shall be chosen based on which bidders entered their bids in the Auction first. In other words, if the applicable Available Amount is ten (10), and the eleven (11) highest bidders all bid $500, then the Winners will be the first ten (10) highest bidders to have made the bid of $500, and the eleventh (11^th) highest bidder will not win the right to purchase the Goods.

Bidders do not know the amount of the bids that others are making.

Individuals who do not follow all of the instructions, provide the required information, successfully submit their bid, and/or abide by these Official Rules or other reasonable instructions of Sponsor may be disqualified.

Each person may bid once on each particular pair of Goods, but there is no limit on how many Goods a bidder may make a bid.

Automated entries are prohibited, and any use of automated devices will cause disqualification. Any bidder that attempts to complete or submit fraudulent entries will be disqualified (including all of that bidder’s bids) in Sponsor’s reasonably exercised discretion. Bidders may not enter with multiple e-mail addresses nor may bidders use any other device or artifice to enter multiple times or as multiple bidders. Any bidder who attempts to enter with multiple e-mail addresses, under multiple identities, or uses any device or artifice to register multiple times will be disqualified and forfeits any and all prizes won, in Sponsor’s reasonably exercised discretion.  Multiple bidders are not permitted to share the same e-mail address. Should multiple users of the same e-mail account enter the Auction and a dispute thereafter arise regarding the identity of the bidder, the authorized account holder of the said e-mail account at the time of entry will be considered the bidder. “Authorized Account Holder” is defined as the natural person who is assigned an e-mail address by an Internet access provider, on-line service provider or other organization, which is responsible for assigning e-mail addresses or the domain associated with the submitted e-mail address. Potential winner may be required to show proof of being the Authorized Account Holder.

5. Results:  On or around Friday, January 25, 2019, Sponsor will determine the Winners from among all eligible bids for each pair of Goods received during the Auction Period. Odds of winning the right to purchase the Goods depend on the number of eligible bids received and the amounts of the bids.

On or around Friday, January 25, 2019, Winners will be notified via the e-mail address and/or telephone number provided during entry into the Auction. Bidders who did not win the right to purchase the Goods on which they bid will not be notified.

The selected Winners shall purchase the applicable Goods for which they successfully bid for the Clearing Price. The purchase must be completed by transferring the Clearing Price to Sponsor by Friday, January 25, 2019 (the “Payment Date”). If a selected winner does not purchase the Product by the Payment Date, the bid will not be valid and such person will no longer be entitled to obtain the Goods.

In the event of unforeseen circumstances, if any Goods, or any portion thereof, cannot be awarded, Sponsor shall substitute the Goods with another product of equal or greater value or refund the bid at the Winner’s choice.  Winners will be solely responsible for all federal, state and/or local taxes, and for any other fees or costs associated with the Goods they receive, regardless of whether it, in whole or in part, is used. Product awarded to a winner may be reported for tax purposes where required by law. Please allow 4-6 weeks for shipment of the Goods after confirmation.

To the extent permitted under applicable law, Winner acknowledges that Promotion Parties (as defined below) have not made nor are in any manner responsible or liable for any warranty, representation, or guarantee, express or implied, in fact, or in law, relative to any Goods, including but not limited to its quality, mechanical condition or fitness for a particular purpose. Any and all warranties and/or guarantees on Goods (if any) are subject to the respective manufacturers’ terms therefore, and winners agree to look solely to such manufacturers for any such warranty and/or guarantee.

7. Publicity: Except where prohibited by law, each winner grants (and agrees to confirm this grant in writing, if requested) permission for Sponsor and those acting under its authority to use his/her name, photograph, and/or likeness, for advertising and/or publicity purposes in any and all media now known or hereinafter invented including without limitation on paper, audio, video, audio-visual, electronic, digital or online media on worldwide basis and royalty-free basis for a term of two years as of their selection as winners.
8. General Conditions: To the extent allowed under applicable law, Sponsor is not responsible for lost, late, misdirected, undelivered, incorrect, or inaccurate entry information whether caused by Internet users or by any of the equipment or programming associated with or utilized in the Auction or by any technical or human error which may occur in the processing of the entries.  Sponsor reserves the right to cancel, suspend and/or modify the Auction, or any part of it, if any fraud, bugs, virus, technical failures, or any other factor beyond Sponsor’s reasonable control impairs the integrity or proper functioning of the Auction, as determined by Sponsor in its reasonable discretion. Sponsor is not responsible for computer system, phone line, hardware, software or program malfunctions, or other errors, failures or delays in computer transmissions, the website, or network connections that are human or technical in nature. Sponsor reserves the right, in its reasonably exercised discretion, to disqualify any individual and his/her entries it finds to be tampering with the entry process, the website, or the operation of the Auction or to be acting in violation of the Official Rules of this or any other promotion or in an unsportsmanlike or disruptive manner. Any attempt by any person to deliberately undermine the legitimate operation of the Auction may be a violation of criminal and civil law, and, should such an attempt be made, Sponsor reserves the right to seek damages from any such person to the fullest extent permitted by law.  Sponsor’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision. The sale of Goods pursuant to this Auction shall be subject to Sponsor’s Terms of Service.
9. Binding Arbitration: Any controversy or claim arising out of or relating to this Auction shall be subject to the jurisdiction determined by applicable law.

SOME JURISDICTIONS DO NOT ALLOW THE LIMITATIONS OR EXCLUSION OF LIABILITY SET FORTH ABOVE AND IN SECTION 6, SO SUCH LANGUAGE MAY NOT APPLY TO EVERY BIDDER.

10. Governing Law & Jurisdiction: Except where prohibited by law, this Auction and its Official Rules are governed by the laws of the State of Michigan, United States, and are subject to all applicable laws and regulations. The entire mandatory law of the country in which the participant has his habitual residence remains applicable. The European Commission also provides consumers with an online dispute settlement platform accessible at the following address: http://ec.europa.eu/consumers/odr/.

For all the duration of the Auction, these Official Rules will be made available here, together with any other promotional material regarding the Auction.

12. Bidder’s Personal Information:  Please see the privacy policy located at https://stockx.com/privacy for details of Sponsor’s policy regarding the use of personal information collected in connection with this Auction.  If you are selected as a winner, your information may also be included in a publicly-available winner’s list.
13. Winner’s List: A list of winners will be available at https://stockx.com/news/ on or around January 26, 2019.