Lesser penalty requires full, timely disclosure and cooperation for reduction; failure can lead to rejection and inquiry. Applicants for lesser penalty or lesser penalty plus must cease participation in the cartel, provide vital full and true disclosure including names of involved individuals, supply all relevant information, documents and evidence, co operate fully and expeditiously, preserve evidence and not give false evidence. Failure to furnish required disclosures or comply with conditions may result in rejection, though the applicant has a right to be heard; information submitted may nonetheless be used and the applicant may face inquiry. Commission discretion on penalty reduction will consider timing, existing evidence, information quality, compliance and overall circumstances.