This subscription and services agreement governs your (hereafter referred to as ‘customer/s’) access to and use of the services that customer is using in connection herewith and that are brought to customer by vareto which owns and operates the service (hereafter referred to as “vareto technology”).By accepting this agreement, either by clicking a box indicating acceptance or by executing an order form that references this agreement, or by accessing or using any part of the service, customer agrees to all the terms of this agreement. If customer is entering into this agreement on behalf of a company or other legal entity, customer represents to have the authority to bind such entity and its affiliates to all of these terms and conditions, in which case the term “customer” shall refer to such entity and its affiliates. If customer does not have such authority, or if customer does not unconditionally agree with these terms and conditions, customer must not accept this agreement and customer will not have any right to use the services.Customer may not access the services if customer is vareto’s direct competitor, except with vareto’s prior written consent. In addition,customer may not access the services for purposes of monitoring their availability, performance or functionality, or for any other benchmarking or competitive purposes.This agreement is effective between customer and vareto as of the date of customer accepting this agreement. Vareto’s acceptance is expressly conditioned upon customer’s assent to all the terms of this agreement, to the exclusion of all other terms.This subscription and services agreement (“agreement”) is made between vareto inc. (“vareto”), a delaware corporation and the customer identified on the vareto order form (“customer”) (each, a “party” and collectively, the “parties”).  The provisions of this agreement will apply to the services and the platform provided to customer under this agreement and shall govern all order forms entered into between vareto and the customer.  

Capitalized terms have the meaning set forth below or as defined within this Agreement.

1.1 “Applicable Privacy Laws'' means, to the extent applicable to the Services, all worldwide data protection and privacy laws and regulations, including where applicable, the California Consumer Privacy Act Cal. Civ. Code §§ 1798.100 et seq. (“CCPA”), the General Data Protection Regulation (“GDPR”), the e-Privacy Directive (Directive 2002/58/EC), and any U.S. state or national data protection laws as superseded, amended or replaced.

1.2 “Authorized User” means the Personnel who are authorized to access the Platform pursuant to Customer’s rights under this Agreement.

1.3 “Customer Content” means any content and information provided or submitted by, or on behalf of, Customer or its Authorized Users, or imported from Third-Party Services at the direction of Customer, in connection with the Services, including but not limited to any Personal Data.

1.4 “Customer Marks” means Customer’s trademarks, trade names, service marks, and logos.

1.5 “Documentation” means all specifications, user manuals, and other technical materials relating to the Platform and provided or made available to Customer, as may be modified by Vareto from time to time.

1.6 “Vareto Technology” means the Platform, the Services, the Documentation and any applicable software, data, or technical information contained within the foregoing.

1.7 “Fees” has the meaning given in Section 3.1.

1.8 “Intellectual Property Rights” means all past, present, and future rights of the following types, which may exist or be created under the laws of any jurisdiction in the world: (a) rights associated with works of authorship, including exclusive exploitation rights, copyrights, moral rights, and mask work rights; (b) trademark and trade name rights and similar rights; (c) trade secret rights; (d) patent and industrial property rights; (e) other proprietary rights of every kind and nature; and (f) rights in or relating to registrations, renewals, extensions, combinations, divisions, and reissues of, and applications for, any of the rights referred to in clauses (a) through (e) of this sentence.

1.9 “Order Form(s)” means Vareto’s standard form for ordering Vareto Technology which specifies the Vareto Technology and applicable Fees.  

1.10 “Personal Data” has the meaning given in Applicable Privacy Laws.

1.11 “Personnel” means the employees, agents and independent contractors engaged by the Customer.

1.12 “Platform” means Vareto’s reporting, planning, and forecasting platform, which is used to provide the Services, as may be updated or improved by Vareto from time to time.

1.13 “Reports” has the meaning given in Section 2.7.

1.14 “Services'' means the services provided through the Platform and described on an Order Form agreed by the Parties in writing under this Agreement.

1.15 “Term” has the meaning given in Section 4.1.

1.16 “Third-Party Services” has the meaning given in Section 8.3.

1.17 “Year” means each twelve (12) month period of an Order Form commencing on the effective date of the Order Form and each subsequent anniversary.

2.1 Access.  Subject to the terms and conditions of this Agreement, Vareto hereby grants to Customer, and the Authorized Users on Customer’s behalf, a limited, worldwide, non-exclusive, non-transferable (except as permitted under Section 11.4), non-sublicensable right during the Term to: (a) use and access the Platform and the Services in accordance with the Documentation and the terms of this Agreement; and (b) use and make reasonable copies of the Documentation, in each case solely for Customer’s internal business purposes. Customer acknowledges and agrees that Vareto may update the Services and the Platform from time to time with or without notifying Customer, provided that any such updates do not materially degrade the functionality of the Platform or the Services. In the event of an upgrade that would materially affect the functionality of the Platform or the Services, Vareto shall provide reasonable advance notice to the Customer and at the Customer’s option, the parties shall work together to ensure Customer’s continued use of the Platform and the Services.  

2.2 Restrictions.  Customer shall not, and that its Authorized Users shall not: (a) allow any third party to access the Vareto Technology except as expressly allowed herein; (b) modify, adapt, alter or translate the Vareto Technology; (c) sublicense, lease, sell, resell, rent, loan, distribute, transfer or otherwise allow the use of the Vareto Technology for the benefit of any unauthorized third party; (d) reverse engineer, decompile, disassemble, or otherwise derive or determine or attempt to derive or determine the source code (or the underlying ideas, algorithms, structure or organization) of the Platform, except as permitted by law; (e) interfere in any manner with the operation of the Platform, the Services or the hardware and network used to operate the same, or attempt to probe, scan or test vulnerability of the Platform without prior authorization of Vareto; (f) modify, copy or make derivative works based on any part of the Vareto Technology; (g) access or use the Vareto Technology to build a similar or competitive product or service; (h) attempt to access the Platform through any unapproved interface; (i) remove, alter, or obscure any proprietary notices (including copyright and trademark notices) of Vareto or its licensors on the Vareto Technology or any copies thereof; or (j) otherwise use the Vareto Technology in any manner that exceeds the scope of use permitted under Section 2.1 or in a manner inconsistent with applicable law, the Documentation, the Order Form or this Agreement. Vareto reserves the right to suspend Customer’s access to the Platform and the Services for any failure, or suspected failure, to comply with the foregoing conditions.

2.3 Usernames and Passwords.  Each Authorized User will use his/her/their unique username and password to access the Platform pursuant to this Agreement. Customer acknowledges and agrees that: (a) only Authorized Users are entitled to access the Platform with their unique usernames and passwords; (b) it will provide to Vareto information and other assistance as necessary to enable Vareto to establish access to the Platform for the Authorized Users, and will verify all Authorized User requests for access to the Platform; (c) it will ensure that each unique username and password issued to an Authorized User will be used only by that Authorized User when accessing the Platform; (d) Customer is responsible for maintaining the confidentiality of all Authorized Users’ unique usernames and passwords, and is solely responsible for all activities that occur under these Authorized User accounts; and (e) Customer will notify Vareto promptly of any actual or suspected unauthorized use of any account, username, or passwords, or any other breach or suspected breach of this Agreement.  Vareto reserves the right to suspend, disable or terminate any Authorized User’s access to the Platform that Vareto reasonably determines may have been used by an unauthorized third party. The unique usernames and passwords cannot be shared or used by more than one individual Authorized User to access the Platform.  

2.4 Customer Content. Customer is solely responsible for any and all obligations with respect to the accuracy, quality and legality of Customer Content.  Customer will obtain all third party licenses, consents and permissions needed for Vareto to use, copy, store and process the Customer Content to provide the Services, including the right to integrate with, and pull Customer Content from, Third Party Services.  Without limiting the foregoing, Customer will be solely responsible for obtaining from third parties (including all Personnel) all necessary consents and rights for Vareto to use the Customer Content submitted by or on behalf of Customer or Authorized Users for the purposes set forth in this Agreement, including all consents required in accordance with all Applicable Privacy Laws.  Customer shall immediately notify, and address with, Vareto any complaints or claims by Personnel with respect to the sharing of the Company Content involving such Personnel.

2.5 Necessary Equipment.  Customer must provide all equipment and software necessary to connect to the Platform, including but not limited to, applicable application program interfaces that have sufficient bandwidth to facilitate the Services.  Customer is solely responsible for any fees, including internet connection fees, that Customer incurs when accessing the Platform and the Services.

2.6 Support Services. Subject to the terms and conditions of this Agreement, Vareto shall: (a) provide support for the use of the Platform and Services to Customer; and (b) keep the Platform and Services operational and available to Customer, in accordance with the Service Level Agreement set forth at Exhibit A.

2.7 Reports.  As part of the Services, and subject to the delivery of accurate Customer Content, Vareto shall from time to time provide to Customer its results, analysis and recommendations on the Platform for Customer to improve its compliance with the applicable standards specified in the Services (“Reports”).  Customer may access and use such Reports for its own internal business purposes in accordance with the terms and conditions of this Agreement.

2.8 Implementation Services. Where the parties have agreed to Vareto’s provision of certain implementation services (“Implementation Services”), the details of such Implementation Services will be set out in an Order Form or a mutually executed statement of work (“SoW”).  The Order Form or SoW, as applicable, will include: (a) a description of the Implementation Services; (b) the schedule for the performance of the Implementation Services; and (c) the Fees applicable for the performance of the Implementation Services. Each Order Form or SoW, as applicable, will incorporate the terms and conditions of this Agreement.

3.1 Fees. The fees for access to the Platform and for the Services are set forth on the Order Form (“Fees”).  Unless otherwise expressly specified in the applicable Order Form, the Fees: (a) are payable annually in advance; and (b) are calculated at the beginning of each Year based on the usage terms (number of Users, product, and/ or Subscription Services Package) specified in the Order Form at the commencement of such Year.  Vareto may, subject to mutual agreement by the parties through an amendment to the Order Form or a renewal Order Form, increase the Fees payable hereunder upon written notice to Customer at least forty-five (45) days prior to the commencement of each Year. All fees are non-cancelable and non-refundable, except as expressly specified in this Agreement. Professional Services will be provided on a time and materials ("T&M") basis unless otherwise set forth in the Order Form. If an estimated total amount is stated in the Order Form, that amount is a good faith estimate and not a guarantee the Professional Services will be completed for that amount.

3.2  Fees Updates.  Except as specified in Section 3.1(b), the Fees are fixed for each Year. At every renewal, Customer and Vareto will evaluate the actual usage as on the date of renewal and will reset the fees based on the increase in usage versus usage limit stated in the expiring Order Form. The parties will accordingly agree to the increased fees and increased usage limit in the renewal Order Form.

3.3 Invoicing and Payment. All Fees are quoted in United States Dollars and, except as set forth otherwise in this Agreement, are nonrefundable. Vareto will invoice Customer annually for the Fees, unless otherwise expressly specified in the applicable Order Form.  Fees are payable thirty (30) days from the date of invoice and will be deemed overdue if they remain unpaid thereafter.  

3.4 Late Payments. Undisputed payments by Customer that are past due by over 90 days will be subject to interest at the rate of one and one-half percent (1.5%) per month (or, if less, the maximum allowed by applicable law) on that overdue balance. Customer will be responsible for any costs resulting from collection by Vareto of any such overdue balance, including, without limitation, reasonable attorneys’ fees and court costs.  Vareto reserves the right (in addition to any other rights or remedies Vareto may have) to suspend Customer and all Authorized Users’ access to the Platform and the Services if any Fees are more than ninety (90) days overdue until such amounts are paid in full.

3.5 Taxes. The Fees do not include taxes, duties or charges of any kind. If Vareto is required to pay or collect any local, value added, goods and services taxes or any other similar taxes or duties arising out of or related to this Agreement (not including taxes based on Vareto’s income), then such taxes and/or duties shall be billed to and paid by Customer.

3.6 Withholding Payments.  If any applicable law requires Customer to withhold amounts from any payments to Vareto hereunder, then Customer will perform such obligations consistent with the provisions of this section.  Customer will affect such withholding, remit such amounts to the appropriate taxing authorities and promptly furnish Vareto with tax receipts evidencing the payments of such amounts. The sum payable by Customer upon which the deduction or withholding is based will be increased to the extent necessary to ensure that, after such deduction or withholding, Vareto receives and retains, free from liability for such deduction or withholding, a net amount equal to the amount Vareto would have received and retained in the absence of such required deduction or withholding.

4.1 Term.  This Agreement will begin on the effective date of the first Order Form between the Parties and will continue in full force and effect for as long as any Order Form remains in effect, unless earlier terminated in accordance with the Agreement (the "Term").  Unless otherwise stated in the applicable Order Form, the term of an Order Form will begin on the effective date of the Order Form and continue in full force and effect for one (1) Year, unless earlier terminated in accordance with the Agreement. Thereafter, the Order Form will renew at mutually agreed terms through a renewal Order Form duly executed by the parties.

4.2 Termination for Breach.  Either Party may terminate this Agreement immediately upon notice to the other Party if: (a) the other Party materially breaches this Agreement, and such breach remains uncured more than thirty (30) days after receipt of written notice of such breach; or (b) the other Party: (i) becomes insolvent; (ii) files a petition in bankruptcy that is not dismissed within sixty (60) days of commencement; or (c) makes an assignment for the benefit of its creditors.

4.3 Effect of Termination. Upon the earlier of expiration or termination of this Agreement: (I) each Party shall immediately return or, if requested by a Party, destroy all (including any copies of) Confidential Information (as defined below) of the other Party and, upon request, each Party shall provide written certification that the foregoing obligations have been completed;  (II) the rights and licenses granted to Customer hereunder will immediately terminate, Customer will cease use of the Platform, the Services and Documentation, and return or destroy all copies of the Documentation in its possession/control;  (III) the Parties’ rights and obligations under Sections 2.2, 3, 4.3, 5, 7, 8.4, 9, 10 and 11 will survive termination of this Agreement and/or any Order Form; and (IV) termination of this Agreement will not limit either Party from pursuing any other remedies available to it, including injunctive relief, nor will termination by Vareto relieve Customer of its obligation to pay all undisputed Fees that accrued prior to such termination.

5.1 Each Party (“Receiving Party”) acknowledges that it may receive from the other Party (“Disclosing Party”) confidential information relating to the Disclosing Party and such confidential information includes, but is not limited to, technical, business, marketing and financial information, and any other information that could reasonably be considered confidential or proprietary (“Confidential Information”).  The terms of this Agreement and any Order Form, the Vareto Technology, and all technical information relating thereto shall be considered Confidential Information of Vareto.  

5.2 Confidential Information does not include information that:  (A) is or becomes generally available to the public other than through a wrongful act of the Receiving Party;  (B) is or becomes available to the Receiving Party on a non-confidential basis from a source that is entitled to disclose it to the Receiving Party; or  (C) is independently developed by the Receiving Party, its employees or third party contractors without access to or use of the Disclosing Party’s Confidential Information.  

5.3 During and after the term of this Agreement, the Receiving Party shall: (i) not use (except for performance of this Agreement) or disclose Confidential Information of the Disclosing Party without the prior written consent of the Disclosing Party; and (ii) take no less than the same measures that it takes with its own Confidential Information, and in any case no less than reasonable measures, to maintain the Confidential Information of the Disclosing Party in confidence.    

5.4 Either Party may disclose Confidential Information to the extent required by law, provided that the Receiving Party gives the Disclosing Party reasonable advance notice of such required disclosure and cooperates with the Disclosing Party so that the Disclosing Party has the opportunity to obtain appropriate confidential treatment for such Confidential Information.  

5.5 All Confidential Information disclosed by the Disclosing Party shall remain the property of the Disclosing Party. The Disclosing Party reserves all rights in its Confidential Information. Nothing in this Agreement or the disclosures envisaged by this Agreement shall (except for the limited use right above) operate to transfer, or operate as a grant of any Intellectual Property Rights in the Confidential Information.  

6.1 Vareto’s Commitments.  During the Term, Vareto shall implement and maintain an information security program that incorporates administrative, technical and physical safeguards designed to: (A) ensure the security and integrity of the Customer Content; (B) prevent unauthorized access to, or disclosure of, the Customer Content; and (C) protect against threats, hazards and security incidents with respect to the Customer Content.

6.2 Privacy.  Each party shall comply with all Applicable Privacy Laws in the performance of their respective obligations under this Agreement with respect to the processing of Personal Data and shall comply with their respective obligations under the Data Processing Agreement (“DPA”) executed by the parties with reference to the Agreement on or after the execution of this Agreement. The DPA is incorporated herein by reference.

6.3 Customer Responsibility for Data and Security. Customer and its Authorized Users will have access to the Customer Content and will be responsible for all changes to and/or deletions of Customer Content and the security of all passwords and other usernames and passwords required in order to access the Platform and the Services. Upon request to Customer’s account manager, Vareto may facilitate for Customer the ability to export Customer Content from the Platform. Customer will have the sole responsibility for the accuracy, quality, integrity, legality, reliability, and appropriateness of all Customer Content.  Vareto is not obligated to back up any Customer Content; the Customer is solely responsible for creating backup copies of any Customer Content at Customer’s sole cost and expense.

7.1 Vareto Technology. This Agreement does not grant to Customer any ownership interest in the Vareto Technology.  The Vareto Technology is proprietary to Vareto and Vareto and/or its licensors have and retain all right, title and interest, including all Intellectual Property Rights therein.  Customer acknowledges that any trademarks, trade names, logos, service marks, or symbols adopted by Vareto to identify the Platform and the Services belong to Vareto and/or its licensors, and that Customer has no rights therein.  Except as expressly set forth herein, no express or implied license or right of any kind is granted to Customer regarding the Vareto Technology, including any right to obtain possession of any source code, data or other technical material relating to the Vareto Technology.  All rights not expressly granted to Customer are reserved to Vareto.  

7.2 Customer License; Ownership. The Customer Content, Customer Marks and Customer’s Confidential Information, and all worldwide Intellectual Property Rights therein, are the exclusive property of Customer. All rights in and to the Customer Content and Customer’s Confidential Information not expressly granted to Vareto in this Agreement are reserved by Customer. Customer grants Vareto a limited, non-exclusive, worldwide, royalty-free and fully paid license during the Term to: (a) to download, store, process and use the Customer Content as necessary solely for purposes of providing and improving the Platform and the Services to the Customer, (b) to use the Customer Marks as required to provide the Services to the Customer; and (c) on a perpetual basis, to use the Customer Content in an aggregated and anonymized form to:(i) improve the Services, the Platform and Vareto’s related products and services (including through various machine learning exercises);(ii) provide analytics and benchmarking services; and(iii) generate and disclose statistics regarding use of the Platform and Services without disclosing Customer Confidential Information, provided, however, that no Customer-only statistics will be disclosed to third parties without Customer’s consent.  

7.3 Feedback.  From time to time, Customer or its users may submit to Vareto comments, questions, enhancement requests, suggestions, ideas, or other information related to the Vareto Technology (“Feedback”). Customer hereby grants Vareto a perpetual, irrevocable, royalty-free and fully paid right to use and otherwise exploit the Feedback, without use of Customer Confidential Information, for the purpose of improving and enhancing the Platform and the Services; provided that Customer is not referenced in such use.

7.4 Publicity. Vareto may use Customer’s name and Customer Marks in its Customer list (including on Vareto’s website, social media and in sales and marketing materials) in the same manner in which it uses the names of its other customers. Vareto shall use Customer Marks in accordance with Customer’s applicable branding guidelines and Vareto may not use Customer’s name in any other way without Customer’s prior written consent (with email consent deemed sufficient).

8.1 Vareto Limited Warranty.  Vareto represents and warrants that: (a) the Services will be performed consistent with generally accepted industry practices; and (b) the Platform will perform in accordance with the service levels set forth in Exhibit A. Customer must report any deficiencies in the performance of the above warranties to Vareto in writing within thirty (30) days of the non-conformance.  Provided the Customer has complied with the foregoing, for any breach of the above warranties, Customer’s exclusive remedy, and Vareto’s entire liability, will be the re-performance of the Services and if Vareto fails to re-perform the Services as warranted, Customer’s sole and exclusive remedy shall be to terminate this Agreement and receive a refund of any pre-paid but unearned Fees prorated on a monthly basis for the remainder of the term of the applicable Order Form.  

8.2 Customer Warranty. Customer represents and warrants that: (a) it has procured all applicable consents required to provide the Customer Content to Vareto for the performance of the Services, including in accordance with Section 2.4 and all Applicable Privacy Laws; (b) the Customer Content will not: (i) infringe or misappropriate any third party’s Intellectual Property Rights; (ii) be deceptive, defamatory, obscene, pornographic or unlawful; (iii) contain any viruses, worms or other malicious computer programming codes intended to damage Vareto’s Technology; and (iv) otherwise violate the rights of a third party (including under all Applicable Privacy Laws); and (c) neither Customer, nor any of its Authorized Users, shall upload to the Platform any Customer Content that contains any sensitive personal information (such as financial, medical or other sensitive personal information such as government IDs, passport numbers or social security numbers). Customer agrees that any use of the Vareto Technology contrary to or in violation of the representations and warranties of Customer in this Section 8.2 constitutes unauthorized and improper use of the Vareto Technology.

8.3 Third-Party Integrations.  In order to provide the Services, the Platform integrates with certain third-party websites and applications (“Third-Party Services'').  Customer is responsible for enabling the integration of each Third-Party Service and by doing so, Customer acknowledges that it is instructing Vareto to share the Customer Content (including, to the extent necessary, any Personal Data) with the providers of such Third-Party Services in order to facilitate the integration. Customer is responsible for notifying such Third-Party Services provider of the integration.  Such Third-Party Services are not under the control of Vareto and Vareto is not responsible for any Third-Party Services.  Customer’s use of the Third-Party Services is governed by the Customer’s agreement with, and all applicable terms and policies including privacy and data gathering practices of, providers of the Third-Party Services.  Customer acknowledges and agrees that, for the purposes of Applicable Privacy Laws, each of Vareto and the Third-Party Services providers are not processors or sub processors of Personal Data with respect to each other.

8.4 disclaimers.  

(a) To the maximum extent permitted by applicable law, the platform and the services are provided “as is'' and “as available” and vareto and its licensors make no representations, warranties or conditions of any kind, oral, statutory, express, implied, by course of communication or dealing, or otherwise.  Except as specified in section 8.1, vareto and its licensors specifically disclaim any and all other warranties, including with respect to title, merchantability, non-infringement or fitness for any particular purpose of the vareto technology, the reports and any other product or services furnished under this agreement.  Without limiting the generality of the foregoing, vareto does not warrant that the platform is error-free or that the platform or the services will operate without interruption  to the extent that. The vareto technology may be subject to limitations, delays, and other problems inherent in the use of the internet and electronic communications.  Vareto is not responsible for any delays, delivery failures or other damages resulting from such problems.  

(b) Customer acknowledges and agrees that vareto is not liable, and customer agrees not to seek to hold vareto liable, for the conduct of customer’s third parties, including customer’s providers of the third-party services, and that the risk of injury  from such third-party services rests entirely with customer.

(c) From time to time, vareto may offer new “beta” features or tools with which customer may experiment.  Such features or tools are offered solely for experimental purposes and without any warranty of any kind, and may be modified or discontinued at vareto’s sole discretion.  The provisions of this section apply with full force to such features or tools.

(d) Customer acknowledges and agrees that the services and the reports provided by vareto to customer are intended as recommendations only and do not constitute any warranty or guaranty that customer, by following such recommendations, will be fully compliant with any applicable standards contemplated by the services.  Customer acknowledges and agrees that it is solely customer’s responsibility to ensure that it complies with all such applicable standards.

9.1 By Vareto. Vareto will defend at its expense any suit brought against Customer, and will pay any settlement Vareto makes or approves, or any damages finally awarded in such suit, insofar as such suit is based on a claim by any third party alleging that the Platform or the Services infringes such third party’s patents, copyrights or trade secret rights under applicable laws of any jurisdiction globally. If any portion of the Platform or Services becomes, or in Vareto’s opinion is likely to become, the subject of a claim of infringement (“Infringing Technology”), Vareto may, at Vareto’s option: (a) procure for Customer the right to continue using the Infringing Technology; (b) replace the Infringing Technology with non-infringing software or services which do not materially impair the functionality of the Platform or Services; (c) modify the Infringing Technology so that it becomes non-infringing; or (d) terminate this Agreement and refund any unused prepaid Fees for the remainder of the term then in effect, and upon such termination, Customer will immediately cease all use of the Vareto Technology. Notwithstanding the foregoing, Vareto will have no obligation under this section or otherwise with respect to any infringement claim based upon: (i) any use of the Platform or Services not in accordance with this Agreement or as specified in the Documentation; (ii) any use of the Platform or Services in combination with other infringing products, equipment, software or data not supplied by Vareto; or (iii) any modification of the Platform or Services by any person other than Vareto or its authorized agents that causes such infringement claim (collectively, the “Exclusions” and each, an “Exclusion”). This section states the sole and exclusive remedy of Customer and the entire liability of Vareto, or any of the officers, directors, employees, shareholders, contractors or representatives of the foregoing, for infringement claims and actions.  

9.2 By Customer.  Customer will defend at its expense any suit brought against Vareto, and will pay any settlement Customer makes or approves, or any damages finally awarded in such suit, insofar as such suit is based on a claim arising out of or relating to: (a) an Exclusion, or (b) Customer’s breach of Sections 6.2 and 8.2. This section states the sole and exclusive remedy of Vareto and the entire liability of Customer, or any of its officers, directors, employees, shareholders, contractors or representatives, for the claims and actions described herein.

9.3 Procedure.  The indemnifying Party’s obligations as set forth above are expressly conditioned upon each of the foregoing: (a) the indemnified Party promptly notifying the indemnifying Party in writing of any threatened or actual claim or suit; (b) the indemnifying Party having sole control of the defense or settlement of any claim or suit; and (c) the indemnified Party cooperating with the indemnifying Party to facilitate the settlement or defense of any claim or suit.

10.1 Types of damages.  Neither party shall be liable to the other party nor to any third parties for lost profits or lost data or for any indirect, special, consequential, reliance or punitive losses or punitive damages howsoever arising under this agreement or in connection with the vareto technology, whether under contract, tort or otherwise, whether foreseeable or not and regardless whether such party has been advised of the possibility that such damages may arise, occur or result.  In no event shall vareto be liable for procurement costs of substitute products or services.

10.2 Amount of damages. Subject to section 10.1, each party’s  aggregate cumulative liability for damages pursuant to this agreement will in no event exceed the amount of fees paid by customer under the applicable order form in the twelve (12) months immediately preceding the event giving rise to the claim.

10.3 Basis of the bargain. These limitations of liability will apply notwithstanding any failure of essential purpose of any limited remedy.  The parties acknowledge that the prices have been set and the agreement entered into in reliance upon these limitations of liability and that all such limitations form an essential basis of the bargain between the parties.  The provisions of this agreement allocate the risks under this agreement between vareto and customer.  Vareto’s fees for the services reflects this allocation of risk and the limitation of liability specified herein.

10.4 Exclusions. The limitations of liability in section 10.2 do not apply to: (a) a breach by a party of sections 2 (access to the platform; restrictions; services) or 5 (confidentiality); (b) either party’s obligations under section 9 (indemnification); or (c) any death or personal injury caused by either party’s gross negligence, or willful misconduct.