IVP.ai Master Service Agreement

This IVP.ai Master Agreement (this "Agreement") is made by and between IVP.ai LIMITED, on behalf of itself and its Affiliates, an entity incorporated in the United Kingdom having offices at 20 Station Road, Cambridge, CB1 2JD, UK ("IVP.ai"), and the undersigned entity ("Customer"). Hereinafter, IVP.ai and Customer shall be referred to separately as a "Party" and collectively as the "Parties". This Agreement shall become effective upon the date of execution of the Party to sign last (the "Effective Date"). This Agreement, together with all Order Confirmation Forms and SOWs, sets forth the terms under which IVP.ai will licence Software to and/or perform Services for Customer as described herein. In consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. Definitions

Certain capitalised terms used in this Agreement shall have the meaning assigned to them as set forth herein.

1.1 "Affiliate" means, with respect to the applicable Party, any entity that is controlled by such Party, which is set out in an Order Confirmation Form, and in the case of IVP.ai, shall include those entities under common control with the entity set out in the Order Confirmation Form. "Control", for purposes of this definition, means direct ownership or control of more than 50% of the voting interests of the subject entity.

1.2 "Authorised Users" means individuals who are authorised by Customer and its Affiliates to use the Subscription Services, for whom a subscription to the Subscription Services has been procured (up to the agreed number set out in an Order Confirmation Form), and who at all times shall be Customer's employees, officers, consultants, authorised contractors with which Customer does business or, where applicable, employees, officers, consultants, or authorised contractors of a Customer Affiliate.

1.3 "Confidential Information" means all non-public information disclosed by a Party or its Affiliates to the other Party on or before the Effective Date and thereafter which is of a confidential nature or which should reasonably in good faith be treated as confidential or proprietary based on the nature of the information or the circumstance surrounding its disclosure. Without limiting the generality of the foregoing, the term "Confidential Information" shall include, but not be limited to, documents, products, information, scientific or computer data, software, technical methods or activities of the applicable Party and its commercial partners and customers and their Affiliates, existing or future products, manufacturing processes, know-how and technology, price, pricing schemes, information on commercial, advertising, and promotional methods. Customer Data shall be considered Confidential Information of Customer. Confidential Information does not include information which is: (i) generally known or publicly available, or which, hereafter through no act or failure to act on the part of recipient, becomes generally known or available; (ii) rightfully known to recipient at the time of receiving such information; (iii) furnished to recipient by a third party without restriction on disclosure; or (iv) independently developed by recipient without having relied on the Confidential Information of the disclosing Party.

1.4 "Connect Services" means IVP.ai's Services relating to Customers access to IVP.ai's application programming interface (the "API") that allows other software or hardware devices to interface with IVP.ai's platform (which means the IVP.ai Software applications and any other online Services provided by IVP.ai to its users via the API). The API also includes any accompanying documentation and any updates to the API made available by IVP.ai in its sole discretion from time to time.

1.5 "Customer Data" means any electronic data including but not limited to functional keywords, searches, comments or any such relevant data, submitted on behalf of Customer into and for use in the Software, Services, or Professional Services. The term "Customer Data" shall exclude any publicly available information.

1.6 "Data Processing Agreement" means the data processing agreement which governs any applicable processing of the Personal Data of individuals within the EEA undertaken by IVP.ai on behalf of Customer. If and only to the extent that IVP.ai engages in processing Personal Data of EEA residents as a result of or in connection with providing the Software or Services to Customer, or it is otherwise required by applicable law, the terms of the Data Processing Agreement shall apply and shall be incorporated into and form part of the terms of this Agreement between the Customer and IVP.ai.

1.7 "Error" means a reproducible failure of the unmodified Software to conform to the specifications set forth in this Agreement, resulting in the inability to use, or material restriction in the use of, the Software.

1.8 "Fees" means, collectively, the fees charged by IVP.ai for the Services as set forth in the applicable Order Confirmation Form and/or SOW.

1.9 "Free Access Services" means any IVP.ai Services or functionality thereof, or certain Professional Services, that may be made available by IVP.ai to Customer to try at Customer's option, at no additional charge, and which is clearly designated as "beta," "trial," "non-GA (generally available)," "pilot," "developer preview," "non-production," "free trial," "evaluation," or by a similar designation.

1.10 "Initial Subscription Term" is defined in the applicable Order Confirmation Form.

1.11 "Intellectual Property Rights" means any and all intellectual property rights, including registered or unregistered rights granted, applied for or otherwise now or hereafter in existence under or related to any patents, utility models, rights in designs, copyrights, moral rights, topography rights, database rights, trade secrets, trademarks, service marks, trade names, domain name rights, know-how, rights of confidence, or other intellectual property rights, and all rights and forms of protection of a similar nature or having equivalent or similar effect to any of these anywhere in the world from time to time.

1.12 "Order Confirmation Form" means an order form that describes the Software licensed to Customer, and the Services purchased by Customer, and incorporates the terms of this Agreement between the Customer and IVP.ai.

1.13 "Personal Data" shall have the meaning set out in Privacy Laws and shall include any information relating to an identified or identifiable natural person, which either Party makes available to the other Party, or otherwise processes for the purpose and under the services of this Agreement. An identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

1.14 "Privacy Laws" means, in relation to any Personal Data which is processed in the provision and receipt of the Services, the applicable legislation on the protection of data subjects with regard to Personal Data, including the EU Data Protection Directive 95/46/EC, (as may be superseded by the General Data Protection Regulation 2016/679 of the European Parliament and of the Council ("GDPR")) and/or other applicable data protection privacy legislation in force as amended, extended or replaced from time to time and including any regulations and codes of practice.

1.15 "Professional Services" means the services offered by IVP.ai and purchased by Customer as selected and described in the applicable Order Confirmation Form or SOW, including platform services, training services, configuration & set up services, search services, and/or research services, in each case as are described more fully in the applicable SOW or Order Confirmation Form. Without limiting the generality of the foregoing, training services are ad hoc services which are provided by IVP.ai on an hourly basis, and platform services, search services and research services are services for which IVP.ai conducts specific research in accordance with Customer requirements, as set out in the applicable Order Confirmation Form or SOW, as applicable.

1.16 "Service Specifications" means the descriptions of the Services set forth in the applicable Order Confirmation Form, SOW and any other IVP.ai's documents that are referenced in or incorporated into the applicable Order Confirmation Form, SOW or this Agreement relating to the Services.

1.17 "Services" means the services offered by IVP.ai and purchased by Customer as selected and described in the applicable Order Confirmation Form or SOW, as applicable, including, but not limited to, Professional Services, Free Access Services, Subscription Services, and Connect Services.

1.18 "Services Data" means all written material, information, insights, and data embedded in the reports that is generated, created and/or downloaded from the Software. The term "Services Data" shall exclude any publicly available information.

1.19 "Software" means the executable code of the software program(s) including but not limited to IVP.ai landscape display, 3D graphics, techniques, algorithm of IVP.ai's internal tool that displays the way IVP.ai presents information, made available to Customer by IVP.ai in connection with the Services, as specified on an Order Confirmation Form, including the terms of this Agreement delivered to Customer hereunder.

1.20 "SOW" means a Statement of Work that incorporates the terms of this Agreement between Customer and IVP.ai.

1.21 "Subscription Services" means the subscription service(s) offered by IVP.ai and purchased by Customer as selected and described in the applicable Order Confirmation Form. For avoidance of doubt, Subscription Services excludes Professional Services, Free Access Services and Connect Services.

1.22 "Suggestions" means any recommendations or feedback provided by the Customer, relating to the Software and/or Services offered by IVP.ai.

1.23 "Transaction" means a single line item from an invoice or negotiated deal.

1.24 "Usage Data" means the statistical usage data derived from the operation of the Software, including activity data of Customer and its Authorised Users, and the performance results for the Software.

2. ORDER CONFIRMATION FORMS & SOWS

2.1 Pursuant to this Agreement, Customer may order from IVP.ai: (i) a licence to access and use the Software and/or (ii) the performance of the Services. The specifications of each will be set forth on one or more Order Confirmation Forms or SOWs. Customer's execution of an Order Confirmation Form or SOW constitutes a binding commitment to licence the Software and/or Services described on such Order Confirmation Form or SOW under the terms and conditions of this Agreement. Unless stated otherwise in an applicable Order Confirmation Form or SOW, the terms of an Order Confirmation Form or SOW will have precedence over any conflicting terms in this Agreement, but only with respect to the subject matter of such Order Confirmation Form or SOW.

2.2 Professional Services. Customer and IVP.ai may enter into one or more SOWs that describe the Professional Services purchased by Customer and to be performed by IVP.ai. IVP.ai is not responsible for any delay in, or failure to provide, the Professional Services to the extent caused by Customer or third parties other than IVP.ai's agents and contractors. If applicable, while providing Professional Services onsite at a Customer premises, IVP.ai personnel will comply with reasonable Customer rules and regulations regarding safety and conduct which have been made known in writing in advance to IVP.ai.

3. SOFTWARE LICENSE AND RESTRICTIONS; SERVICES RESTRICTIONS

Customer may licence Software from IVP.ai by entering into one or more Order Confirmation Forms with IVP.ai specifying such Software.

3.1 Software License. Subject to the terms of this Agreement and the applicable Order Confirmation Form, IVP.ai grants to Customer and Authorised Users, during the applicable Subscription Term, a limited, revocable, world-wide, non-exclusive, non-sublicensable and transferable licence to permit to Customer and Authorised Users to use the Software in accordance with this Agreement, subject to the limitations set forth in the Order Confirmation Form.

3.2 Software Restrictions. Except as expressly set forth in this Agreement, the applicable Order Confirmation Form or the applicable SOW, Customer shall not, directly or indirectly: (a) sublicense, resell, rent, lease, distribute, market, commercialise or otherwise transfer rights or usage in the Software or any modified version or derivative work created by or for Customer; (b) allow access or use of the Software or any modified version or derivative work created by or for Customer other than its Authorised Users or in excess of any restriction on the number of Authorised Users of licences; (c) provide the Software on a timesharing, service bureau, service provider or other similar basis; (d) remove or alter any copyright, trademark or proprietary notice in the Software or this Agreement; (e) incorporate or merge the Software into another software product, or otherwise access the Software to create, modify or enhance any software or competing service; (f) disassemble, decompile or reverse engineer or otherwise attempt to derive the structure, sequence or organisation of source code, except as permitted by applicable law to achieve interoperability; (g) modify, adapt, recast, transform or otherwise prepare a derivative work of the Software or portion thereof; (h) use the Software to store or transmit or authorise a third party to store or transmit infringing, libellous or otherwise unlawful, illegal or tortious material; (i) use or access the Software in breach of applicable laws, rules or regulations; (j) otherwise use or access the Software in breach of the terms and conditions of this Agreement; (k) copy any features, functions, or graphics of the Software for any purpose other than what is expressly authorised in this Agreement; (l) use the Software, or permit it to be used, for purposes of product evaluation, benchmarking or other comparative analysis intended for external publication without IVP.ai's prior written consent; (m) otherwise use or copy the Software or permit any third party to do any of the foregoing; (n) intentionally interfere with or disrupt the integrity or performance of the Software or the data contained therein; or (o) disclose the results of any benchmark or performance tests of the Software. Customer shall: (i) be solely responsible for all Authorised Users' compliance with the terms and conditions of this Agreement; (ii) be solely responsible for the accuracy, use, integrity, and legality of any information processed within the Software and the means by which Customer acquires and uses such information; (iii) use the Software only in accordance with the applicable laws, rules, regulations (including, without limitation, export, data protection and Privacy Laws, rules and regulations) and any Software documentation; (iv) prevent unauthorised access to or use of the Software; and (v) notify IVP.ai promptly of (1) any unauthorised use of, or access to, the Software of which it becomes aware, or (2) any notice or charge of noncompliance with any applicable law, rule or regulation asserted or filed against Customer in connection with Customer's information stored or used on the Software. To the extent that Customer collects, processes or uses Personal Data itself or through the Software, Customer represents and warrants that it has a valid legal basis for doing so under the applicable provisions of data Privacy Laws. Any such Personal Data processing relating to individuals within the EEA shall be governed by the Data Processing Agreement which is incorporated into and forms part of this Agreement. Customer agrees to indemnify IVP.ai against any damages or claims incurred by IVP.ai or its Affiliates in connection with a third-party claim arising out of Customer's breach of this Section 3.2.

3.3 Software Access Rights. Each Authorised User shall be a named individual with a unique email address. Customer shall ensure that an Authorised User's log-in credentials for the Software and/or the Services are not shared with any third party, including any of Customer's other employees, officers, consultants, authorised contractors with which Customer does business or, where applicable, employees, officers, consultants, or authorised contractors of a Customer Affiliate. Customer shall be responsible for: (a) ensuring the security and confidentiality of all such access credentials; (b) all liabilities incurred through use of the Services under such log-in credentials; and (c) ensuring that each Authorised User complies with the Software and Services restrictions set forth in this Agreement.

3.4 Services Restrictions. Except as expressly set forth in this Agreement, the applicable Order Confirmation Form or the applicable SOW, Customer shall not, directly or indirectly: (a) resell any of the Services; (b) permit any third parties to use the Services for their own purposes; (c) use the Services on behalf of any third party; (d) use the Services in any manner that interferes with, degrades, or disrupts the integrity or performance of any of IVP.ai's technologies, services, systems or offerings; (e) attempt to gain unauthorised access to the Services or its related systems or networks; (f) breach any security feature readily apparent in the Services; (g) otherwise use the Services in breach of the terms and conditions of this Agreement or permit any third party to do any of the foregoing; or (h) disclose the results of any benchmark, performance tests, or results of the Services. Customer acknowledges that in order to use certain of the Services to be provided by IVP.ai hereunder, Customer must provide all necessary third-party software (e.g. operating system and web browser). IVP.ai is not responsible for providing any such third-party software, unless otherwise provided in this Agreement or any Order Confirmation Form.

3.5 Service Requirements. Customer agrees that its participation is important for the success of the Services. Customer will provide all necessary resources and information required for IVP.ai to perform the Services. Customer will ensure its personnel and resources will be available in a timely manner and will use commercially reasonable efforts to have its third-party provider's personnel and resources, if applicable, available in a timely manner. For all on-site activities, to the extent applicable, Customer will provide suitable working space and necessary utilities. IVP.ai may rely upon any instructions, authorizations, approvals or other information provided by Customer or its third-party provider, if applicable. IVP.ai will be excused from the performance of its obligations and the Services to the extent that such failure is fully attributable to Customer's failure to provide such timely resources, access and information. Customer's failure to provide timely completion of tasks and approvals and Customer resource availability may result in changes to the Services, schedule and fees only in the event it is proved that the failure is entirely ascribable to the Customer.

4. FEES AND PAYMENTS

4.1 Fees; Payment. In consideration for the Software and/or Services licensed and/or provided by IVP.ai under this Agreement pursuant to one or more Order Confirmation Forms or SOWs, Customer agrees to pay IVP.ai the Fees as set forth on the applicable Order Confirmation Forms and/or SOWs. Except as otherwise provided in the Order Confirmation Form and/or SOWs, Fees are: (a) invoiced upon the effective date of the Order Confirmation Form or SOW; (b) due within thirty (30) days from the date of IVP.ai's invoice; (c) due on the first day of the Renewal Term with respect to renewal Fees; (d) based upon and limited by the metrics set forth in the Order Confirmation Form or SOW; (e) non-refundable and non-creditable, except as set forth in Section 7.1 and Section 8.1 of this Agreement; (f) in the currency set forth in the applicable Order Confirmation Form or SOW; and (g) exclusive of all taxes (for which Customer shall be responsible, except for taxes on IVP.ai's net income). Customer agrees to provide IVP.ai with complete and accurate billing and contact information. A service charge of 1.0% per month or the highest interest rate permitted by law, whichever is lower, shall be applied to all amounts which are not paid when due under this Agreement, accruing from the due date. Customer shall not withhold or offset Fees due to IVP.ai for any reason. IVP.ai will invoice and Customer will make payments for the Fees as set forth in the applicable Order Confirmation Form or SOW. Should IVP.ai be required to use a collection agency or other means to collect payment due under this Agreement, Customer agrees to pay reasonable collection agency fees and reasonable attorney's fees associated with such collection. Furthermore, if Customer requires IVP.ai to use any service (including an online platform) in order to submit invoices or process payments made between Customer and IVP.ai, IVP.ai reserves the right to charge the Customer for, and Customer agrees to pay, the costs and expenses (if any) incurred by IVP.ai or its Affiliates in registering for, accessing, or using such service.

4.2 Fees on Renewal. Unless otherwise set forth on an Order Confirmation Form, at the end of the Initial Subscription Term and each subsequent Renewal Term, the Software subscription will automatically renew in accordance with Section 6. IVP.ai reserves the right to modify the Fees in connection with any Renewal Term.

4.3 Audit Rights. IVP.ai shall have the right, at its expense, to audit, or have an independent, certified public accountant reasonably acceptable to Customer, audit Customer's records and books of accounts related to the Services for the sole purpose of verifying compliance with the terms of this Agreement; provided, that: (a) Customer is provided at least ten (10) business days advance written notice of IVP.ai's intention to audit; and (b) the audit is conducted during normal business hours.

4.4 Data Allowance & Overage Fees. The Customer's subscription plan includes a specified monthly data allowance, set out in the Order Form, which is the maximum amount of data synchronisation that the customer is permitted to pull from a data source during a given month, without incurring additional charges. In the event that the Customer's data usage exceeds the monthly data allowance in any given month, the Customer agrees to pay Overage fees for all data used beyond the included monthly data allowance. Overage fees will be billed in proportion to the Customer's existing subscription plan. If no specific rate is provided, the default rate of £400 per 1 million rows of data will apply. The applicable rate may be adjusted by IVP.ai upon thirty days' written notice to the Customer. The amount of excess data will be calculated based on the IVP.ai's records, which shall be deemed conclusive in determining the amount of data used by the Customer. IVP.ai will provide the Customer with a detailed report of the data usage, and any Overage fees incurred. Overage fees will be included in the next regular invoice following the month in which the excess data usage occurred. Payment of Overage fees is due in accordance with the payment terms set forth in the Customer's Subscription agreement. IVP.ai will make reasonable efforts to notify the Customer when their data usage approaches or exceeds the Monthly data allowance. However, failure of IVP.ai to provide such notification shall not relieve the Customer of their obligation to pay Overage fees. IVP.ai reserves the right to modify the Monthly data allowance, and the rate for Overage fees upon thirty days' written notice to the Customer. Any such modification will become effective at the start of the billing cycle following the expiration of the thirty day notice period. If the Customer disputes any Overage fees, they must notify IVP.ai in writing, within thirty days of the date of the invoice containing the disputed charges. IVP.ai will investigate the disputed charges and will notify the Customer of the outcome. If the dispute is resolved in favour of the Customer, IVP.ai will credit the disputed amount to the Customer's account.

5. PROPRIETARY RIGHTS

5.1 Intellectual Property. (i) IVP.ai exclusively retains and will continue to exclusively retain all right, title and interest, including all related Intellectual Property Rights and all derivative works, in and to the Software, Services and Services Data, whether in machine-readable (source, object code or other format), printed or other form, including without limitation, any and all performance data, usage data, machine learning, anonymized metadata, and anything developed or delivered by or on behalf of IVP.ai under this Agreement. If Customer purchases Professional Services from IVP.ai under an applicable Order Confirmation Form or SOW, IVP.ai grants Customer a worldwide, non-exclusive, non sublicensable, non-transferable, revocable licence to use the Professional Services in accordance with the applicable Order Confirmation Form or SOW. All rights not expressly granted to the Customer in this Agreement with respect to the Software, Services, or Professional Services are reserved by IVP.ai and, (ii) Notwithstanding anything to the contrary in this Agreement, the Parties hereby acknowledge and agree that: (a) IVP.ai shall retain exclusive ownership of all intellectual property rights, including but not limited to, copyrights, patents, and trade secrets, in and to the algorithms, graphics, and visual representations utilised by IVP.ai in the provision of the Services Data (collectively, the "IVP.ai IP"); (b) the Customer shall retain exclusive ownership of the report curated by Customer through its use of the Services Data (the "Customer IP"); and (c) the Customer is hereby granted a non-exclusive, worldwide, royalty-free, fully paid-up, sublicensable, and transferable licence to use, reproduce, display, perform, and create derivative works of the Customer IP, both for commercial and non commercial purposes, within and outside the Customer's organisation, provided that such use does not infringe upon, misappropriate, or otherwise violate any of the IVP.ai IP, including but not limited to replicating the Software.

5.2 Suggestions. Customer is not obligated to provide IVP.ai with any Suggestions relating to any Software or Services provided or offered by IVP.ai. However, if the Customer chooses to offer any Suggestions, they may be gathered, evaluated, and implemented by IVP.ai to improve our Software or Services.

5.3 Customer Data Licence. Customer hereby grants to IVP.ai a royalty-free, fully-paid up, worldwide, transferable, irrevocable, perpetual right and licence to use, copy and modify, including by incorporating into any software or services owned, licensed or provided by IVP.ai, all Customer Data only in an anonymized and aggregated format and exclusively to improve the Services, provided that the content and/or context of the anonymized and aggregated data does not imply or otherwise suggest the identity of Customer or its Affiliates.

5.4 Customer Intellectual Property. Customer exclusively retains and will continue to exclusively retain all right, title and interest in and to all Intellectual Property Rights embodied in or associated with Customer's Confidential Information and Customer Data generated by Customer using the Software and the Services.

5.5 Customer Data. As between IVP.ai and Customer, Customer retains all right, title and interest in and to all Customer Data. Customer is responsible for the accuracy and legality of Customer Data, and the means by which Customer acquired Customer Data. Customer represents and warrants that Customer is duly authorised and licensed to submit the Customer Data to IVP.ai pursuant to the terms of this Agreement. Customer will indemnify and hold IVP.ai harmless from damages or losses resulting from any claims brought by third parties against IVP.ai alleging that Customer Data infringes any intellectual property rights of any third party. IVP.ai reserves the right to refuse to process and/or remove any Customer Data if, in IVP.ai's determination, such Customer Data does not comply with the terms of this Agreement, the terms of any Order Confirmation Form and/or SOW, or any applicable law, or upon the reasonable request of any third party.

5.6 Use of Services Data. Notwithstanding anything to the contrary set forth herein, Customer and its Authorised Users may: (a) access and use Services Data in hard copy, electronic data storage or other electronic form and regardless of the means of access or delivery; (b) download, print and/or store copies of the Services Data; (c) use extracts in presentations, speeches or marketing material or other documentation, provided always that IVP.ai's copyright notice, trade name(s), trademark(s) and other intellectual property rights shall be displayed prominently in such distribution of the Services Data; and (d) use the Services Data for internal business purposes, which shall include distribution to Customer's employees and officers.

5.7 Usage Data. IVP.ai owns the Usage Data. The Usage Data shall exclude Customer's Confidential Information. Nothing herein shall be construed as prohibiting IVP.ai from utilising the Usage Data to optimise and improve the Software or the Services, or otherwise operate IVP.ai's business. Where Usage Data of Customer is combined with Usage Data of other customers, all Usage Data shall be de-identified and presented in an anonymous and aggregate format so that such Usage Data will not disclose the identity of Customer or any Authorised Users to any third party.

5.8 Jointly Owned Intellectual Property. No jointly owned intellectual property is created under or in connection with this Agreement.

6. TERM AND TERMINATION

6.1 Term. This Agreement begins on the Effective Date and, unless earlier terminated as set forth in this Agreement, will continue while an Order Confirmation Form or SOW is in effect between the Parties. The Software or Services will be provided or made available during the Initial Subscription Term set forth in the applicable Order Confirmation Form, and, in the context of annual subscriptions, will thereafter automatically renew for additional periods, unless either Party provides the other Party with written notice of its intention not to renew at least fourteen (14) days prior to the expiration of the then-current term (each a "Renewal Term" and collectively, with the Initial Subscription Term, the "Subscription Term"). The expiration or termination for any reason of any individual Order Confirmation Form or SOW shall not result in termination of this Agreement but shall result only in the termination of such Order Confirmation Form or SOW. The provisions of this Agreement relating to the effects of termination shall apply to each Order Confirmation Form and SOW as an independent contract.

6.2 Termination Rights. If either Party is in default of any material provision of this Agreement, and such default is not corrected within thirty (30) days of receipt of written notice, the other Party shall have the right to terminate this Agreement and all Order Confirmation Forms and SOWs by providing written notice to the Party in breach; such written notice shall specify in detail the alleged material breach. Either Party shall have the right to immediately terminate this Agreement in writing if the other Party: (a) voluntarily or involuntarily becomes the subject of a petition in bankruptcy or of any proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors which is not dismissed within one hundred and twenty (120) days; (b) admits in writing its inability to pay its debts as they become due; or (c) any breach of Sections 3.2 or 3.4.

6.3 Effect of Termination. Upon expiration or termination of an Order Confirmation Form or SOW, or termination of this Agreement as a whole: (i) the licence granted hereunder for Software or Subscription Services, if any, shall immediately terminate and Customer shall immediately stop using the Software or Subscription Services; (ii) IVP.ai's obligation to provide Services will end immediately; (iii) all unpaid Fees (including any unamortized amounts attributable to any equipment purchased by IVP.ai to provide the Services to Customer) shall become immediately due and payable; and (iv) each Party shall immediately return or destroy the other Party's Confidential Information received hereunder in its possession or under its control. If an Order Confirmation Form, an SOW or this Agreement is terminated by Customer as a result of an uncured confirmed material breach by IVP.ai, IVP.ai may refund to Customer any pro-rata pre-paid Fees for the period after the effective date of termination in connection with such material breach. The terms of Section 1 (Definitions), 3.2 (Software Restrictions), 3.4 (Service Restrictions), 4.3 (Audit Rights), 5 (Proprietary Rights), 6.3 (Effect of Termination), 7.4 (Disclaimer of Warranties), 9 (Limitations of Liability), 10 (Confidential Information) and 11 (General) shall survive termination or expiration of this Agreement.

6.4 Suspension. In addition to any of its other rights or remedies, if Customer's account is overdue in making payment of any Fees by more than thirty (30) days, IVP.ai reserves the right to suspend the Services provided to Customer, without liability incurred by IVP.ai to Customer, until such Fees are paid in full.

7. WARRANTIES; DISCLAIMERS

7.1 Software Warranties. If Software or Subscription Services are licensed by IVP.ai to Customer under an Order Confirmation Form, IVP.ai warrants for the sole benefit of Customer that, during the Subscription Term, the Software or Subscription Services shall perform materially in accordance with the functional specifications set forth in this Agreement. The foregoing warranty shall not apply to any Error or failure resulting from: (i) the use of the Software in an operating environment other than as set forth in this Agreement; (ii) Customer's failure to follow any reasonable and on time instructions of IVP.ai; (iii) use of the Software outside the terms and conditions of this Agreement and the Order Confirmation Form and/or SOW; (iv) Customer's gross negligence or accident due to his fault; or (v) modification of the Software by anyone other than IVP.ai. At IVP.ai's election, during the Subscription Term, if Customer notifies IVP.ai in writing of such breach within ten (10) days after Customer becomes aware of such breach, then IVP.ai shall, at no charge: (a) use commercially reasonable efforts to make a correction available to the Software; (b) replace the Software with materially conforming Software; or (c) after making all commercially reasonable efforts to provide the foregoing remedies, terminate the applicable licence and refund the unused portion of any pre-paid Fees received by IVP.ai relating to the Subscription Services. This section states IVP.ai's entire liability and Customer's sole remedy for a breach of the warranty in this Section 7.1.

7.2 Services Warranties. If Services are purchased by Customer under an Order Confirmation Form or SOW, IVP.ai warrants for the sole benefit of Customer that IVP.ai will perform the Services with due care and skill and in a professional, workmanlike manner. The foregoing warranties shall not apply to any Error or failure resulting from: (i) Customer's failure to follow any reasonable instructions of IVP.ai or the Services Specifications, or (ii) Customer's gross negligence or accident not due to his fault. At IVP.ai's election, during the Subscription Term, if Customer notifies IVP.ai in writing of such breach within ten (10) days after the applicable Services have been provided, then IVP.ai shall re-perform such Services at no additional cost to Customer. This section states IVP.ai's entire liability and Customer's sole remedy for a breach of the warranty in this Section 7.2.

7.3 Professional Services. If Professional Services are purchased by Customer under an SOW, IVP.ai warrants that all Professional Services will be performed in a professional and workmanlike manner consistent with generally accepted industry standards. Customer shall notify IVP.ai of any breach of this warranty within ninety (90) days of the performance of the deficient Professional Services. If Customer notifies IVP.ai in writing of breach of this Section 7.3, Customer's sole and exclusive remedy will be for IVP.ai to re-perform deficient Professional Services at no additional charge to Customer. The foregoing warranties shall not apply to any Error or failure resulting from: (i) Customer's failure to follow any reasonable instructions of IVP.ai or the Services Specifications, or (ii) Customer's gross negligence or accident not due to his fault. This section states IVP.ai's entire liability and Customer's sole remedy for a breach of the warranty in this Section 7.3.

7.4 Disclaimer of Warranties. EXCEPT AS SET FORTH IN THIS SECTION 7, THE SOFTWARE, SERVICES AND SERVICES DATA ARE PROVIDED HEREUNDER "AS-IS" WITHOUT PRESENTATION OR WARRANTY OF ANY KIND. IVP.ai EXPRESSLY DISCLAIMS REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ANY WARRANTY OF NON-INFRINGEMENT AND THOSE WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE. THE REMEDIES SET FORTH HEREIN ARE THE SOLE AND EXCLUSIVE REMEDIES FOR ANY CLAIMS THAT IVP.ai HAS VIOLATED ANY WARRANTY IN SECTIONS 7.1, 7.2 AND 7.3.

7.5 Acknowledgment. CUSTOMER AGREES THAT ITS LICENCE OF THE SOFTWARE AND/OR PURCHASE OF THE SERVICES HEREUNDER IS NEITHER CONTINGENT UPON THE DELIVERY OF ANY FUTURE FUNCTIONALITY OR FEATURES NOR DEPENDENT UPON ANY ORAL OR WRITTEN PUBLIC COMMENTS MADE BY IVP.ai WITH RESPECT TO FUTURE FUNCTIONALITY OR FEATURES. IVP.ai MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE VERACITY OF THE UNDERLYING RESEARCH, FINDINGS, REPORTS AND OTHER SUCH INFORMATION OBTAINED BY IVP.ai FROM THIRD PARTIES AND PROVIDED TO CUSTOMER IN CONNECTION WITH THE SERVICES.

8. INDEMNITY

8.1 IVP.ai Intellectual Property Indemnification. Subject to Section 9, IVP.ai agrees to indemnify Customer against any damages finally awarded against Customer arising from a third party claim alleging that the Customer's use of the unaltered Software infringes or misappropriates such third party's patent or copyright in the country designated for delivery of the Software in accordance with the terms of this Agreement, provided that Customer provides prompt written notice of such claim to IVP.ai, grants IVP.ai the sole right to control and defend such claim, and provides to IVP.ai all reasonable assistance. In the event of a claim or threatened claim under this Section by a third party, IVP.ai may, at its sole reasonable option: (a) revise the Software so that it is no longer infringing; (b) obtain the right for Customer to continue using the Software; or (c) terminate this Agreement and any applicable Order Confirmation Form and/or SOW upon thirty (30) days' notice and refund any pro-rata unused, prepaid licence fees received by IVP.ai. Notwithstanding the foregoing, IVP.ai shall have no liability or indemnification obligations from claims arising out of or relating to: (i) a version of the Software other than the then-current version; (ii) modification of the Software by anyone other than IVP.ai; (iii) combination, operation or use of the Software with any other products or software not supplied by IVP.ai; (iv) any unauthorised use of the Software, including any use of the Software outside of the applicable Subscription Term; or (v) any claim or damages arising after IVP.ai's on time and written notice to Customer that Customer should cease use of the Software in accordance with this Section.

8.2 Aggregate Liability. THIS SECTION 8 STATES THE ENTIRE LIABILITY OF IVP.ai AND THE SOLE AND EXCLUSIVE REMEDY OF CUSTOMER, WITH RESPECT TO THE INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS BY THE SOFTWARE.

9. LIMITATIONS OF LIABILITY

9.1 Aggregate Liability. TO THE EXTENT NOT PROHIBITED BY LAW, EXCEPT FOR CUSTOMER'S LIABILITY ARISING UNDER SECTION 3 (SOFTWARE LICENCE AND RESTRICTIONS; SERVICES RESTRICTIONS), THE MAXIMUM AGGREGATE LIABILITY OF EITHER PARTY, TOGETHER WITH ITS RESPECTIVE AFFILIATES, ARISING OUT OF OR RELATED TO THIS AGREEMENT AND ALL ORDER CONFIRMATION FORMS AND SOWS, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR UNDER ANY OTHER THEORY OF LIABILITY, SHALL NOT EXCEED IN THE AGGREGATE THE TOTAL PAYMENTS MADE BY CUSTOMER TO IVP.ai IN THE TWELVE MONTHS PRECEDING THE FIRST CLAIM MADE UNDER THIS AGREEMENT. THE FOREGOING SHALL NOT LIMIT CUSTOMER'S PAYMENT OBLIGATIONS HEREUNDER.

9.2 Disclaimer of Consequential Damages. TO THE EXTENT NOT PROHIBITED BY LAW, WITH THE EXCEPTION OF CUSTOMER'S LIABILITY ARISING UNDER SECTION 3 (SOFTWARE LICENCE AND RESTRICTIONS; SERVICES RESTRICTIONS) AND CUSTOMER'S PAYMENT OBLIGATIONS UNDER SECTION 4 (FEES AND PAYMENTS), IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR THE COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, ANY LOST PROFITS, REVENUE, OR DATA, INTERRUPTION OF BUSINESS OR FOR ANY INCIDENTAL, SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES OF ANY KIND, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE OR IF SUCH DAMAGE COULD HAVE BEEN REASONABLY FORESEEN.

9.3 Free Access Services. NOTWITHSTANDING THE FOREGOING, FREE ACCESS SERVICES ARE PROVIDED "AS IS" WITH NO EXPRESS OR IMPLIED WARRANTY AND IVP.ai SHALL HAVE NO INDEMNIFICATION OBLIGATIONS, NOR ANY LIABILITY OF ANY TYPE WITH RESPECT TO FREE ACCESS SERVICES, UNLESS SUCH EXCLUSION OF LIABILITY IS UNENFORCEABLE UNDER APPLICABLE LAW, IN WHICH CASE, IVP.ai'S TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO FREE ACCESS SERVICES IS $1,000. NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH HEREIN, CUSTOMER SHALL BE FULLY LIABLE FOR ANY DAMAGES ARISING OUT OF ITS USE OF FREE ACCESS SERVICES.

10. CONFIDENTIAL INFORMATION

10.1 Obligation. Each of IVP.ai and Customer agree that, for a period of three (3) years after last receipt of the other Party's Confidential Information, it will: (a) use the other Party's Confidential Information only in connection with fulfilling its rights and obligations under this Agreement; and (b) hold the other Party's Confidential Information in strict confidence and exercise due care with respect to its handling and protection, consistent with its own policies concerning protection of its own Confidential Information of like importance but in no instance with less than reasonable care, such due care including without limitation requiring its employees, professional advisors and contractors to execute non-disclosure agreements which are consistent with the terms and conditions of this Agreement and no less protective of each Party's Intellectual Property Rights as set forth herein before allowing such parties to have access to the Confidential Information of the other Party.

10.2 Exceptions to Obligations. Notwithstanding Section 10.1 (Obligation), either Party may disclose Confidential Information to the extent required by law, provided the other Party uses commercially reasonable efforts to give the Party owning the Confidential Information sufficient notice of such required disclosure to allow the Party owning the Confidential Information reasonable opportunity to object to and to take legal action to prevent such disclosure. Notwithstanding the foregoing, a third party breach of IVP.ai's security protocols causing the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, Customer's data processed by IVP.ai under this Agreement shall not constitute a breach by IVP.ai of this Section 10.

11. GENERAL

11.1 Publicity. IVP.ai may include Customer's name and logo in customer lists on IVP.ai's website and in marketing collateral. Customer also agrees to: (a) serve as a reference, (b) collaborate on press releases announcing or promoting the relationship, and (c) collaborate on case studies or other marketing collateral.

11.2 Governing Law; Venue. This Agreement shall be governed by and interpreted in accordance with the laws of England and Wales without reference to their respective conflicts of law provisions. Customer hereby irrevocably consents to the personal and exclusive jurisdiction of the courts of competent jurisdiction located in or having jurisdiction over England and Wales. The UN Convention on Contracts for the International Sale of Goods will not apply to this Agreement. The Contracts (Rights of Third Parties) Act 1999 shall not under any circumstances apply to this Agreement and any person who is not a party to this Agreement shall have no right whatsoever under the Contracts (Rights of Third Parties) Act 1999 to enforce this Agreement or any of its terms. The substantially prevailing Party shall be entitled to recover its reasonable attorneys' fees, costs and expenses incurred. Nothing in this Section shall limit IVP.ai's right to bring proceedings against Customer in any other court of competent jurisdiction.

11.3 Assignment. Customer may not assign this Agreement, by operation of law or otherwise, in whole or in part, without IVP.ai's prior written consent (which will not be unreasonably withheld, conditioned or delayed). A transfer of more than 50% of the equity interests in Customer shall be deemed an assignment by operation of law for the purposes of this provision and such change in control shall allow IVP.ai to modify the terms of this Agreement in whole or in part. Subject to the foregoing, this Agreement will be binding on, inure to the benefit of, and enforceable by and against the Parties and their respective successors and permitted assigns. IVP.ai may delegate the performance of Services to third parties, but will remain liable to Customer for the delivery of those Services. Customer consents to IVP.ai's use of third-party contractors and individuals contracted through such third-party contractors to provide the Services. Any assignment not in conformity with this Section shall be null and void.

11.4 Notices. Any notices required under this Agreement shall be given in writing, shall reference this Agreement and the applicable Order Confirmation Form and/or SOW, and shall be deemed to have been delivered and given: (a) when delivered personally; (b) three (3) business days after having been sent by registered or certified mail, return receipt requested; or (c) one (1) business day after deposit with a commercial overnight courier, with written verification of receipt. All communications shall be sent to the addresses set forth on the Order Confirmation Form, or to such other address as may be designated by a Party by giving written notice to the other Party. Notices shall be addressed to the Legal Department. Time is of the essence for the performance of this agreement, and any deviation from the timeline for sending any required notice/s under this Agreement could amount to a material breach.

11.5 Force Majeure. Except for any payments due hereunder, if a Party's performance hereunder is prevented, hindered or delayed by elements of nature, acts of God or war, acts or threats of terrorism, riots, civil disorders, pandemics, revolutions, strikes, labor disputes, failure of utilities or telecommunications, government action, or other causes outside of the reasonable control of the affected Party, the affected Party, upon giving prompt notice to the other Party, will be excused from performance to the extent of the condition for such duration such condition is in effect.

11.6 Compliance with Law. The Software is subject to export control laws, including the Council Regulation No. 388/2012 of the European Parliament and Council, 19 April 2012 and its associated laws, and may be subject to export or import regulations in other countries. With respect to Software licensed to Customer hereunder, Customer agrees to comply fully with all laws and regulations of the United States, the United Kingdom, and other countries to assure that neither the Software, nor any direct products thereof are: (a) exported, directly or indirectly, in violation of such laws, either to any countries that are subject to export restrictions or to any end user who is prohibited from participating in the export transactions by any governmental authority; or (b) intended to be used for any purpose prohibited by such laws, including, without limitation, nuclear, chemical, or biological weapons proliferation. Further, Customer agrees to comply with all applicable anti-bribery and anti-corruption laws in all business related to this Agreement, including the United States Foreign Corrupt Practices Act and the UK Bribery Act of 2010, if applicable.

11.7 Governmental Restrictions. With respect to Software licensed to Customer hereunder, Customer acknowledges that the Software consists of "commercial computer software" and "commercial computer software documentation" as such terms are defined in the U.S. Code of Federal Regulations, or such substantially similar designations that may be applicable to any other governmental jurisdictions. No government procurement regulations or contract clauses or provisions shall be deemed a part of any transaction between the Parties unless its inclusion is required by law, or mutually agreed in writing by the Parties in connection with a specific transaction. Use, duplication, reproduction, release, modification, disclosure or transfer of the Software is restricted in accordance with the terms of this Agreement.

11.8 General. IVP.ai may add to, change or update this Agreement, from time to time entirely at its own discretion (unless otherwise agreed in writing). Customer is responsible for checking this Agreement periodically to remain in compliance with these terms. Customer's continued use of the Services & Software after any amendment to this Agreement shall constitute Customer's acceptance of these terms and Customer also agrees to be bound by any such changes/revisions. IVP.ai will never communicate with Customers about changes to important business information, such as bank account details, by email. Please notify us immediately if you receive any email or other communication purporting to be from IVP.ai stating that we have changed our bank details or payment arrangements.

11.9 No modification of this Agreement or any term or condition hereof shall result due to either Party's acknowledgment or acceptance of the other Party's forms (e.g., purchase orders, acknowledgment forms, etc.) containing different or additional terms and conditions unless expressly and specifically accepted and executed by both Parties by means of a writing which references this Section 11.9. A waiver on one occasion shall not be construed as a waiver of any right on any future occasion. No delay or omission by a Party in exercising any of its rights hereunder shall operate as a waiver of such rights. In performing their respective duties under this Agreement, IVP.ai and Customer will operate as independent contractors and neither Party is the legal representative, agent, joint venturer, or employee of the other Party for any purpose whatsoever. The headings of the Sections of this Agreement are for convenience only and shall not be of any effect in construing the meaning of the Sections. In the event that it is determined by a court of competent jurisdiction that any provision of this Agreement is invalid, illegal, or otherwise unenforceable, such provision shall be enforced as nearly as possible in accordance with the stated intention of the Parties, while the remainder of this Agreement shall remain in full force and effect and bind the Parties according to its terms. To the extent any provision cannot be enforced in accordance with the stated intentions of the Parties, such terms and conditions shall be deemed not to be a part of this Agreement. This Agreement and the Data Processing Agreement, including all Order Confirmation Forms and SOWs, may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be delivered by electronic document format (e.g. PDF), and electronic copies of executed signature pages will be binding as originals. This Agreement, together with all Order Confirmation Forms and SOWs, constitutes the entire and exclusive agreement between the Parties with respect to the subject matter hereof and supersedes any prior agreements and communications between the Parties with respect to such subject matter. The Parties expressly agree that any terms or conditions stated in Customer's purchase order ("Customer's PO") or in any other of Customer's order documentation (excluding IVP.ai's Order Confirmation Forms and SOWs) are void. In the event of any conflict, the terms of this Agreement, together with all Order Confirmation Forms and SOWs, shall prevail in all respects over the terms provided in Customer's PO.