as the laster assume the current directory PLUS the path supplied, and using rewrite in the way the PT thricks things into thinking you are in a sub-directory and not the root, so in your example it assumes the corrct path is http://www.linkik.com/merchant/Badge-Direct/images/slogan.jpg
so as i say, if you provide the full path, then server/browser will not try and assume what is correct
There is an easy cure to this, in your template use the full image patch
eg:
<img src="http://www.linkik.com/images/slogan.jpg">not just
<img src="/images/slogan.jpg">as the laster assume the current directory PLUS the path supplied, and using rewrite in the way the PT thricks things into thinking you are in a sub-directory and not the root, so in your example it assumes the corrct path is http://www.linkik.com/merchant/Badge-Direct/images/slogan.jpg
so as i say, if you provide the full path, then server/browser will not try and assume what is correct