OFFICIAL CONSTITUTION OF THE NATIONAL FANTASY FOOTBALL CHAMPIONSHIP AUCTION LEAGUES

1. Overview: The National Fantasy Football Championship Auction Leagues will consist of 14 teams, with each team compiling 19 NFL players using an imaginary $200 team budget. Teams will play every other team in their league once in head-to-head competition, with the team with the best overall record winning a $650 prize (or $1,300 if that is the league fee) and the team with the most total points during the regular season also winning $650 (or $1,300 if that is the entry fee). One team can win both prizes if they accomplish both achievements. Tie-breakers for the head-to-head title is total points. The head-to-head champion and the team with the most total points (not counting the h2h champion) will receive first-round byes in the league playoffs. The next two highest scoring teams and the next two best records will also advance to the league playoffs, meaning six teams from each league advance to the playoffs. The third-seeded team (based on total points) will take on the sixth-seeded team (based on records) in Week 14, while the fourth-seeded team (based on total points) will take on the fifth-seeded team (based on records). The lowest-seeded winning team from that round will take on the top-seeded team (which is total points during the regular season) in Week 15 and the middle-seeded teams will also compete in the semi-final round of the playoffs. The playoff winners from Week 15 will compete in Week 16 for the league championship prize, while the losers from Week 15 will compete in the third-place game.

• Seed #1: Most total points
• Seed #2: Best h2h record (not counting total points)
• Seed #3: Next most total points
• Seed #4: Next most total points
• Seed #5: Next best h2h record
• Seed #6: Next best h2h record (tie-breaker is total points)

2. Draft: All Auction Leagues will hold their auctions on Friday, Sept. 4th in their respective cities. The order of each league auction draft will be chosen randomly by Krause Publications and announced no later than Monday, August 31st. Player nominations will begin with Team #1 and go in order through Team #14. Team #1 will start out each round through all 19 rounds. Each team will nominate a player in each round and provide an opening bid for that player. A team cannot present an opening bid that is higher than its remaining budget as it must have money remaining for all 19 players. The bidding continues until the auctioneer determines that a winning bid has been determined. All winning bids are final according to the auctioneer. Each team must have a maximum and minimum total of 19 players on its roster at all times.

The bidding process is open after the initial introduction of the player and all team owners may bid at any time. Bids are made in $1 increments (no cents) and the auctioneer determines the winning bid each time. The auctioneer will state, "going once…going twice….SOLD." Once the auctioneer starts to say "SOLD" the bidding is completed.

3. No Trading: Trading is not allowed during the NFFC season and owners are not allowed to trade draft picks.

4. Roster Requirements: Maximum of 19 players at all times.

5. Starting Lineup Requirements:

• Starting lineups will consist of:
• 1 Quarterback
• 2 Running Backs
• 3 Wide Receivers
• 1 Tight End
• 1 Flex Player (RB, WR or TE)
• 1 Kicker
• 1 Team Defense/Specials Team
• (If no Week One lineup is submitted, the NFFC will determine your starting lineup. After Week One, if no starting lineup is submitted, your starting lineup will be that of the previous week.)

6. Scoring: Players can accumulate points in a number of ways:

PASSING:

• .05 points for every yard passing (works out to 1 point every 20 yards).
• 6 points for every passing touchdown
• 2 points for every 2-Point conversion
• minus 1 point for every interception and lost fumble

• .10 points for every yard rushing (works out to 1 point every 10 yards).
• 6 points for every rushing TD
• 2 points for every 2-Point conversion
• minus 1 point for every lost fumble
• 6 points for a recovered offensive fumble for a touchdown (RB, QB, WR, TE)

• .10 points for every yard receiving (works out to 1 point every 10 yards).
• 6 points for every receiving TD
• 1 point for every reception for WRs, Tight Ends and QBs
• 0.5 points for every reception for RBs
• 2 points for every 2-Point conversion
• minus 1 point for every lost fumble

• 1 point for every extra point
• 3 points for every field goal from 1-30 yards
• 3 points for every field goal plus .10 points for every yard after 30 yards (i.e. a 47-yard field goal would be worth 4.7 points)

• 1 point for every sack
• 2 points for every interception or opponents' fumble recovery
• 6 points for every touchdown (interception return, defensive fumble return, punt or kickoff return, blocked field goal return, blocked punt return). All special teams and defensive points are awarded to the team responsible, not the individual player. Should a kicker, punter or field goal holder throw a pass off a fake attempt, however, the offensive output for that offensive play would go towards the individual player, not the specials team. Also, any lost fumble or "muff" on a specials team play does not result in negative points for that individual player.
• 2 points for every safety
• 12 points for a shutout by the entire team
• 8 points for allowing 2-7 points by the entire team
• 4 points for allowing 8-12 points by the entire team
• 2 points for allowing 13-17 points by the entire team

7. Free Agent Acquisitions: Any player who is not on a team roster within your league is considered a free agent for that league. The free agent system will be a "blind bidding" process for each individual league (Free Agent Acquisition Bidding or FAAB). Each team will start with an imaginary $1,000 FAAB budget, and will be permitted to bid for free agents on a weekly basis through Week 13. No team will be informed of any other team's free agent bids. The team with the highest bid on any given player will be awarded that player. The amount of the winning bid will be deducted from the winning team's free agent dollars. For each winning bid, the winning team must drop a player to make roster room for the free agent acquisition. If a team's free agent dollars goes to zero, that team will no longer be allowed to bid for the rest of the season. No bid will be accepted that is larger than a team's free agent dollars. All bids must be in increments of dollars (no cents).

8. The Draft: The auction will be held at the host sites in Las Vegas, New York and Chicago. Cost of entry is $650 per team (or $1,300 where demand warrants it) and $50 per co-manager. All participants and co-managers will sit in the order of their team number. The Auction League will be a non-smoking event. Use of electronic equipment (cell phones and laptops) is allowed, but there will not be Internet connections or electrical outlets available. Bring your own battery if you want to use a laptop.

• A. League Management Web Address: STATS LLC. will manage the NFFC and provide real-time stats online. You can access your league via the Internet by going to http://game.fantasyfootballchampionship.com
• B. Lineup Submission: All lineups may be submitted on the league web site and must be entered prior to the scheduled kickoff for the game affected.
• C. NFFC Phone In: All transactions should be made online via the league website. In the event you cannot access a computer to make your moves, STATS LLC., one of the largest and most respected providers of statistics and fantasy games, can accept transactions via phone at 888-450-2730 during normal business hours. You will need your login and password to submit transactions via phone. You may leave transactions on voice mail during non-business hours, however, you do so at your own risk and any and all changes which result in an invalid lineup, will be voided.
• D. Scoring: The National Fantasy Football Championship will use a head-to-head scoring setup. Scoring will be accumulated each week from your 10 starters. Scores in the NFFC are finalized with no changes possible after 6 p.m. EST each Thursday after the weekend games.

9. Bidding Time Frame: The bidding process will be held each week after Week 1 and continues through the end of the NFFC regular season. Bids will be accepted on the league web site from Tuesday at 9 am ET until Friday at 9 p.m. ET in each of those weeks. If you are submitting by phone, you must submit your bids by 2:30 p.m. ET on Friday. Rosters will be updated by 10 p.m. ET Friday with the results of all successful bids.

The FAAB deadline will be moved to Wednesday, Nov. 11 at 9 p.m. EST to comply with the Thursday night games which resume in Week 10. There are no FAAB pickups in Weeks 14 through 16 during the NFFC Championship Round and NFFC Consolation Round. All winning FAAB bids on Nov. 19 and 26 are final at that time, even if a scoring change is made after that which would affect tied winning bids.

10. Conditional Bids: Conditional bids can also be offered. In the event you may lose out on a player, you can place conditional bid(s) for other players during the bidding time frame. The first conditional bid will become relevant only if you lose out on the primary bid. Subsequent conditional bids will become relevant only if the previous conditional bid fails. Bids do not require conditional bids. Bids may have several sequential conditional bids.

11. Number of Bid Limits: There is no limit to the number of bids each week in which bids are permitted.

12. Tied Bids: If there is a tie bid, the team that receives the player will be determined in order by:

• 1. Worst league record.
• 2. Lowest total points.
• 3. Head-to-head matchups of teams (losing team would get the player).
• 4. Worst previous weekly score going back each week consecutively to Week 1.
• 5. Lowest draft/nomination spot (14 backwards).

13. Trades between managers: To minimize the possibility of collusion, there will be no trading allowed.

14. League Structure: Each league will consist of 14 teams competing in a head-to-head format for the league championship. Teams will be assigned randomly to each Auction League in each city on a first-come, first-served basis. Complete refunds will be offered to participants if a full 14-team league isn't filled in that city. Teams will play every other team in their league once in head-to-head competition, with the team with the best overall record winning a $650 prize (or $1,300 if that is the league fee) and the team with the most total points during the regular season also winning $650 (or $1,300 if that is the entry fee). One team can win both prizes if they accomplish both achievements. Tie-breakers for the head-to-head title is total points. The head-to-head champion and the team with the most total points (not counting the h2h champion) will receive first-round byes in the league playoffs. The next two highest scoring teams and the next two best records will also advance to the league playoffs, meaning six teams from each league advance to the playoffs. The third-seeded team (based on total points) will take on the sixth-seeded team (based on records) in Week 14, while the fourth-seeded team (based on total points) will take on the fifth-seeded team (based on records). The lowest-seeded winning team from that round will take on the top-seeded team (which is total points during the regular season) in Week 15 and the middle-seeded teams will also compete in the semi-final round of the playoffs. The playoff winners from Week 15 will compete in Week 16 for the league championship prize, while the losers from Week 15 will compete in the third-place game.

• Seed #1: Most total points
• Seed #2: Best h2h record (not counting total points)
• Seed #3: Next most total points
• Seed #4: Next most total points
• Seed #5: Next best h2h record
• Seed #6: Next best h2h record (tie-breaker is total points)

15. Prize Breakdown:

• The Auction Leagues do not have an overall prize structure, just a league prize. In the $650 Auction Leagues:
• First place wins $3,350
• Second Place = $1,450
• Third Place = $725
• Head-2-Head Regular Season League Champion = $650
• Total Points Regular Season Champion = $650
• Prize breakdown for $1,300 Auction Leagues are as follows:
• First place wins $6,700
• Second Place = $2,900
• Third Place = $1,450
• Head-2-Head Regular Season League Champion = $1,300
• Total Points Regular Season Champion = $1,300

16. Draft Rules:

• a. Time Limit: Each participant will have 30 seconds to nominate a player when their turn in the auction comes up.
• b. Seating: Every team will have two draft spots available at the table and each team will be seated in their draft order.
• c. Trading: There is no trading allowed during the NFFC season and all player cuts will be evaluated by the NFFC. Any player cut that will hurt the integrity of the league can be removed from that leagues free agent pool for good by the NFFC.
• d. Electronic Equipment: Participants can use electronic equipment during the draft as long as it fits in the allotted draft spot at the table. There will be no Internet connections or electrical outlets, so participants bringing laptops will have to supply their own power. Cell phones are allowed at the draft table, but we encourage participants to use them sparingly and not in a way that interrupts the draft process.
• e. Smoking/Drinking: Smoking will not be allowed in the Draft Room. There will be a cash bar available in the Draft Room, but we ask that each participant drink responsibly.
• f. Breaks: There will be brief breaks and money checks after Rounds 6 and 12 or when needed. We will finish the draft after the second break.
• g. Week One Lineups: Every participant is responsible for submitting their Week One starting lineup before the Thursday, Sept. 10th game, but players who are not involved in that initial game can be moved in or out of the starting lineup before the Sunday, Sept. 13th games begin. The Thursday night game results will count in the NFFC scoring. All teams are also required to confirm their team roster and sign off on the players on the list before leaving the draft. Any errors on your roster should be presented to the NFFC management as soon as possible.
• h. League management: The league will be available via the Internet at http://game.fantasyfootballchampionship.com. All lineups may be submitted on the league web site and must be entered prior to the scheduled kickoff for the game affected. In the event you cannot access a computer to make your moves, STATS LLC, one of the largest and most respected providers of statistics and fantasy games, can accept transactions via phone during normal business hours. You will need your login and password to submit transactions via phone. You may leave transactions on voice mail during non-business hours, however, you do so at your own risk and any and all changes which result in an invalid lineup, will be voided.
• i. Thanksgiving/Saturday games: Any players you want to place in your starting lineup for early games like Thanksgiving or the Saturday late season games, must be entered online at least five minutes before kickoff. Any player involved in those games that isn't in the starting lineup by the regular lineup deadline of Sunday morning, won't be available for those week's games.

17. NFFC Guarantee: Once a participant submits valid payment, no money will be refunded to participants or co-managers unless the National Fantasy Football Championship is canceled. A team spot is considered filled when the entire $650 (or $1,300) entry fee is paid. When a participant agrees to finish the registration form and submit payment, that participant has demonstrated his/her acceptance of the official rules and regulations for the NFFC. Krause Publications reserves the right to refund any entries not comprising a full 14-team league. At its sole discretion, Krause Publications also reserves the right to terminate The National Fantasy Football Championship in its entirety if there are an insufficient number of teams by August 30, 2009. In this unlikely event, Krause Publications will refund all entry fees within 48 hours of cancellation notice and/or provide a new application form with the newly stated prize figures. All pre-registered applicants would have the right to a full refund or agree to play for the newly announced prize structure. Krause Publications is not responsible for any loss or liability incurred by any participant or co-managers due to cancellation of The National Fantasy Football Championship, including but not limited to travel or hotel expenses, time taken off from employment, etc.

18. Eligibility Principal owners must be 21 years of age or older to compete in the NFFC Auction Leagues. Co-managers can be younger than 21.

19. Prize Winnings If your prize winnings exceed $600.00, The National Fantasy Football Championship must file a Form 1099 with the IRS at the end of this calendar year. If necessary, we will request your social security number. The Form contains the amount paid to the principal owner (and ONLY the principal owner) and you will receive a copy of the Form for tax purposes. You are responsible for paying any taxes that result from your cash prize. Please consult your income tax advisor for filing advice.