!!! Amsterdam,!January!2016!! Re:!Draft!escrow!agreement!Escrow4all! Dear!Sir,!/!Madam,! Thank!you!for!your!interest!in!Escrow4all s!solutions.!!

Transcription

1 Amsterdam,January2016 Re:DraftescrowagreementEscrow4all DearSir,/Madam, ThankyouforyourinterestinEscrow4all ssolutions. Asknowledgeleaderintheescrowsector,weareverykeenassistyoutoselectorcraftanescrow solutionthatadequatelyfitsyourrequirements.forexample: L therightfocus: software/sourcecodeescrow,saasescrow(includingdataandhosting) L therightformat: oneltoloneagreementorascalableframeagreement L therightprotection: themostappropriateverificationlevelanddepositfrequency Shouldyouhaveanyqueriesorifyouwishtoreceiveaproposalorsetupameeting,pleasedonot hesitatetocontactus.wewouldbepleasedtohelpyou. BestRegards, HermanKui Commercial*Director*

2 DRAFT SoftwareEscrowAgreement Dated: 2016 between( SoftwareCompany as#licensor# and( SoftwareUser as#licensee# # and( ESCROW4ALLB.V. as#escrow#agent# ( Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 1 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

3 Contents ( Page( Contents...2 General...3 Clause1 Definitions...4 Clause2 DepositofMaterial...5 Clause3 ObligationsofEscrow4all...5 Clause4 ObligationsofLicensorandLicensee...6 Clause5 Verification...7 Clause6 Release...8 Clause7 Confidentiality...9 Clause8 Liability...9 Clause9 Fees...9 Clause10 Terms&Termination...10 Clause11 Miscellaneous...11 Clause12 Assignment...12 Clause13 ApplicableLaws&Disputes...12 Signing...13 Annex1 EscrowMaterialOverview...14 Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 2 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

4 General ( The(undersigned(parties:( (1) [Software Company], with registered office at [Address], [City] ([Postal Code]), [Country] herebylegallyrepresentedby[initials+name],(hereinafterreferredtoas Licensor ); (2) [SoftwareUser],withregisteredofficeat[Address],[City]([PostalCode]),[Country]hereby legallyrepresentedby[initials+name],(hereinafterreferredtoas Licensee ); (3) ESCROW4ALL B.V., withregisteredofficeatmediarena7,amsterdam:duivendrecht (1114 BC),theNetherlands,herebylegallyrepresentedby[Initials+Name],(hereinafterreferredto as Escrow4all ); Whereas:( (a) LicensorhasgrantedLicenseealicensetoutilizethesoftwareprogram(s)( theproduct )asis furtherdetailedinannex1hereto; (b) LicensorhasundertakentoprovidemaintenanceandsupportinrespectoftheProduct; (c) Licensee, in certain circumstances where Licensor is unable or fails to provide such maintenanceandsupport as further detailed in Clause 6, may require access to the source codeandtechnicaldocumentationoftheproduct; (d) LicensorhasagreedtodepositwithEscrow4allthesourcecodeandtechnicaldocumentation oftheproduct. It(is(agreed(as(follows:( Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 3 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

5 Clause1 Definitions ForthepurposeofthisAgreement,thetermsinthisAgreementshallhavethefollowingmeaning: Agreement:thisescrowagreement,includingtheannexeshereto; DataCarrier:themediumormediacontainingtheMaterial; DepositForm:theformsettingoutthedetailsoftheMaterialprovided; LicenseAgreement:theagreementbetweenLicensorandLicenseethatgrantsLicenseealicensetouse theproduct; Material:theSourceCode,TechnicalDocumentationandUpdatesoftheProduct; Product: all licensed computer software program(s) as defined in the License Agreement and as furtherspecifiedinannex#1# Escrow#Material#Overview ; SourceCode:thecomputerprogrammingcodeoftheProductinhumanreadableformat,includingall documentationandinstructionsnecessarytomaintain,interpret,compileandinstall; Technical Documentation: the technical documentation required to enable Licensee to maintain, modify,and/orcorrectthesourcecodeoftheproduct; Update:anymodification,updateorrevisionoftheProduct,madeavailablebyLicensortoLicensee, irrespectiveofthe(commercial)nameofsuchupdate; ContinuityPurposes:useoftheMaterialstrictlyandsolelyformaintenance,correction,modification or extension of the Product with due observation by Licensee of the restrictions in the License Agreement concerning among others intellectual property rights, use, confidentiality, reproduction anddistribution; EscrowPortal:asecuredwebsite,onlyaccessiblewithapersonalusername/password,providedand maintainedbyescrow4allaspartofitsservicesandstandardprocedureswherebyparties(licensor and Licensee) can obtain specific information on the Agreement such as Material on deposit and copiesofverificationreports; VerifOne:thetestsandprocessesformingEscrow4all sverifonetestingservice,insofarastheycan beappliedtothematerial; VerifTwo:thetestsandprocessesformingEscrow4all sveriftwotestingservice,insofarastheycan beappliedtothematerial; VerifThree:thetestsandprocessesformingEscrow4all sverifthreetestingservice,insofarasthey canbeappliedtothematerial. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 4 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

6 Clause2 DepositofMaterial 2.1 Nolaterthan20businessdaysaftertheAgreementdate,Licensorwillhavedepositedacopy of the Material with Escrow4all. The deposit by Licensor as referred in this Clause 2.1 and Clause2.2includesthetransferoftheownershiptoEscrow4alloftheDataCarrieronwhich thematerialisstored. 2.2 InadditiontothedepositmentionedinClause2.1above,Licensorshall,fromtimetotime, butnolaterthan20businessdaysafterthereleasethereof,depositwithescrow4allanyfuture Update. 2.3 ThetransferofownershipoftheDataCarrierreferredtounderClause2.1and2.2shallnot include a transfer to Escrow4all of any intellectual property rights in the Material. These remainatalltimesvestedwithlicensororitssuccessor:in:titlefromtimetotime. 2.4 Escrow4all shall within 5 business days after receipt of the deposit notify Licensor and LicenseeviatheEscrowPortalthereof. 2.5 IntheeventthatLicenseedoesnotreceiveconfirmationofthedepositoftheMaterialwithin 25 business days after operational implementation of any Update, Licensee shall notify Escrow4allthereofinwriting. 2.6 Escrow4allshallholdthethreelatestdepositsoftheMaterialforthetermoftheAgreement. Older Material shall be destroyed by Escrow4all without requiring prior approval from Licensorand/orLicensee. 2.7 LicensorgrantsEscrow4alltherightsto: : makeaback:upcopyofthematerial,ifandwhennecessary; : loadthematerialonacomputersystemtoperformverificationofthematerialin accordancewithclause5; : releasethematerialtolicenseeinaccordancewithclause6. Clause3 ObligationsofEscrow4all 3.1 Escrow4allshallholdtheMaterialondepositinasafeandsecureenvironmentandshalluse all reasonable endeavours to prevent unauthorised parties from having access to such environment. 3.2 Escrow4all shall keep records of its activities undertaken pursuant to this Agreement and providethesetolicensorand/orlicenseeviatheescrowportalorinwrittenformatwhere necessary. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 5 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

7 3.3 Escrow4all shall make no use of the Material other than it is entitled to pursuant to the Agreement. 3.4 Escrow4all shall not disclose or divulge the Material to any third person save such of its employees who need the Material for verification purposes. Escrow4all will see to it that immediatelyafteraverificationprocedurethematerialandanycopymadewillberemoved fromthecomputersystem(s)usedfortheverification. 3.5 Escrow4allshallreleasetheMaterialonlyinaccordancewiththeprovisionsoftheAgreement. 3.6 IfdespitethesecuritymeasuresandotherprecautionstakenbyEscrow4alldamageisdoneto, orlosstakesplaceof,thematerial,escrow4allshallbeobligedtopromptlynotifylicensorof this fact and Licensor shall be obliged to promptly provide a new copy of the Material to Escrow4all.ThecostsofprovidinganewcopyshallbetotheaccountofEscrow4allunlessand totheextentthatlicensorhasnotcompliedwithitsobligationstokeepback:upcopiesasset outunderclause4.1below. Clause4 ObligationsofLicensorandLicensee 4.1 Licensorwarrantsandrepresentsthat: itisentitledtotransferthe MaterialtoEscrow4allpursuanttotheprovisionsofthe AgreementandagreestoindemnifyandholdharmlessEscrow4allfromandagainst any claim by a third party in relation to the verification and/or the release of the MaterialinaccordancewiththisAgreement thematerialdepositedwithescrow4allcontainsanaccurateandcompleteversionof theproductlicensedtolicenseeatthetimeofdeposit the Material deposited with Escrow4all is sufficient to enable a suitably qualified person to carry out maintenance, correction, modification and compilation of the Product itshallholdavailableorprocuretheavailabilityofcopiesofthelatestversionsofthe Materialasback:up. 4.2 Licenseewarrantsandrepresentsthat: in case of release of the Material to Licensee under the Agreement, it will be used solelyforcontinuitypurposesandfortheusethereofsolelyinconnectionwiththe businessoflicensee. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 6 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

8 4.2.2 in case of release of the Material to Licensee, use of the Material as well as the continued use of the Product(s) shall be subject to the terms and conditions of the LicenseAgreement in case Licensee enters into an agreement with a third party for the provision of maintenanceandsupport of the Product, Licensee will ensure that such third party conductsitselfinstrictcompliancewiththeprovisionsofclause4.2.1and4.2.2above. Clause5 Verification 5.1 Witheachdeposit,LicensorshallprovidetoEscrow4allaDepositFormsettingoutthedetails ofthematerialwhichisdepositedforthebenefitoflicensee. 5.2 Forthwithaftereachdeposit,Escrow4allshallexecuteaVerifOnetestingofthepresenceand readability of the Material. Escrow4all shall inform Licensor and Licensee via the Escrow Portalofitsfindingswithinfivebusinessdaysaftertheverification. 5.3 Licensee shall at any time be entitled to request Escrow4all for extended verification (VerifTwoorVerifThree)inaccordancewithaplantobeagreeduponwithLicensor,Licensee andescrow4all.licensorisobligedtocooperatewithescrow4allintheexecutionofextended verification(s). 5.4 The costs of Escrow4all, Licensor and Licensee, borne by the additional verification set out underclause5.3above,shallbetotheaccountoflicensee,unlesstheverificationshowsthat Licensormateriallyhasnotmetitsobligationshereunder,inwhichcaseLicensorshallbear therelevantcosts. 5.5 If verification shows that the Material as deposited with Escrow4all does not contain an accurate and complete reflection of the Product, then Licensor shall restore the discrepancy withintwentybusinessdaysafternotificationtothatbyescrow4all. 5.6 (optional#clause)#withoutprejudicetoclause5.2and5.3aboveitisagreedthatescrow4all shallimmediatelyafterthefirstdepositexecuteaveriftwo/verifthreetestinginaccordance withaplantobeagreeduponwithallparties. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 7 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

9 Clause6 Release 6.1 SubjecttotheexistenceofavalidLicenseAgreementatthetimeoftheoccurrence,Escrow4all mustreleasethematerialtolicenseeifanyofthefollowingeventsoccur: (I) (II) (III) (IV) (V) Licensorisdeclaredbankrupt,dissolvedorliquidated; Licensorceasestocarryonitsbusiness; ThebusinessofLicensorundertheLicenseAgreementistransferredentirelyorpartly toathirdpartywhoisnotwillingand/oronlyunderunreasonablecommercialterms willingtocontinuetoperformmaintenanceandsupportwithregardtotheproduct; Licensorbreachesitsobligationstoprovidemaintenanceandsupportinsuchaway thatitsubstantiallyjeopardizeslicensee sabilitytocontinuetousetheproduct; Licensor fails to perform one or more substantial obligations under the Agreement andremainsinbreach20daysafterbeingnotifiedofthedefault. 6.2 IfintheopinionofLicenseeaneventreferredtoinClause6.1occursandLicenseerequiresthe releaseofthematerialonthebasisthereof,licenseeshallsendawrittennoticetothiseffectto LicensorandEscrow4allwithreasonableevidencesupportingsuchopinion. 6.3 UponreceiptofsuchnoticeassetoutunderClause6.2aboveEscrow4allshallwithinfive(5) business days notify Licensor in writing that a request for the release of Material has been received. 6.4 Licensor shall have ten (10) business days from the date of the notice from Escrow4all to registeranyobjectiontosuchrelease.iflicensorfailstoregisteranobjectionwithinthestated ten (10) business days, Escrow4all shall be entitled to immediately release the Material to Licensee.IfLicensorisbankrupt,dissolvedorliquidatedthenLicensorshallhavenorightsof objectionunderthisclause IfLicensorhasregisteredanobjectioninaccordancewithClause6.4,Escrow4allwillsuspend the release of the Material. Licensor and Licensee shall promptly submit the question of whetherthelicenseehastherighttoobtainthematerialtothefoundationforthesettlement of Automation Disputes (SGOA, Stichting( Geschillenoplossing( Organisatie( en( Automatisering( arbitrationproceedingsasstatedinitsrulesofarbitration.thedecisionofthesgoashallbe finalandbindingonallpartiesandshallnotbesubjecttoappealtothecourts. 6.6 UponreleaseoftheMaterialundertheAgreement,LicensornowforthengrantsLicenseethe non:transferable,non:exclusiverighttousethematerialforcontinuitypurposesandforthe usethereofsolelyinconnectionwiththebusinessoflicensee. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 8 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

10 Clause7 Confidentiality 7.1 Each party undertakes to maintain all information and documentation coming into its possession under this Agreement in strict confidence and will not disclose or release such informationordocumentationotherthaninaccordancewiththisagreement. 7.2 TerminationofthisAgreementwillnotrelieveanypartyoritsemployeesfromtheobligation ofconfidentialitycontainedinthisagreement. Clause8 Liability 8.1 Escrow4allshallbeliabletoLicensorand/orLicenseefordirectdamagetotheMaterialorany other damage arising out of or in connection with the performance of the Agreement, providedsuchdamageistheresultofgrossnegligenceorwilfulmisconductofescrow4all,in whichcaseitsobligationtopaydamagesshallnotexceedasumof (inwords:one millioneuro)intotal. 8.2 Escrow4allshallnotbeliableforanyindirectdamageincluding,butnotlimitedto,industrial damage,lossofdata,lossofprofitsand/orotherconsequentialdamages. 8.3 WithoutprejudicetoEscrow4all sobligationsandliabilitytoverifythematerialinaccordance withclause5hereof,escrow4all shall not be responsible for Licensor s failure, if any, with respecttothecompleteness,accuracy,functionalityorcorrectnessofthematerial. Clause9 Fees 9.1 FortheservicestoberenderedbyEscrow4allunderhisAgreement,Licenseeshallpaythefees asspecifiedinannex#2# # Fee#Schedule. 9.2 Escrow4allshall: : invoicetheinitialfeeuponfinalizationofthisagreement; : invoice the (proportional part of the) Annual Escrow Fee upon signing of this Agreementforthethencurrentcalendaryear; : thereafter invoice the Annual Fee every year in December for the following full calendaryear; : invoice ifrelevant theoptionalservicesuponsigningofthisagreement. 9.3 Escrow4all is entitled to readjust the Annual Escrow Fee in accordance with the (yearly) general price index (Consumenten( Prijs( Index( ( CPI) as published by the Dutch Central StatisticalOffice(CBS). Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 9 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

11 9.4 PaymentofinvoicesrenderedbyEscrow4allshallbeduewithinthirty(30)daysoftheinvoice date.iftheinvoiceisnotpaidbytheduedate,licenseeshallbeliableforthelegalinterestfor theperiodthatpaymenthasbeendelayed,unlesstheinvoicehasbeendisputedonreasonable grounds. 9.5 IncaseLicenseehasnotpaidtheinvoicerenderedbyEscrow4allinaccordancewithitsdue date,licenseeshallnotbeentitledtoinvoketheprovisionsofclause6herein. 9.6 Escrow4all shall have no obligation to refund any fees already paid on termination of this Agreement. Licensee shall be obliged to pay any invoices submitted before the date of terminationofthisagreement. Clause10 Terms&Termination 10.1 ThisAgreementshallcommenceonthedateofthisAgreementandshallbeenteredintofor indefinitetime ThisAgreementmaybeterminated: (a) By Licensee, by a registered letter to Escrow4all and Licensor, duly signed by Licensee,inwhichLicenseedeclaresthatitwishestoterminatetheAgreementtaking intoaccountanoticeperiodofthree(3)months. (b) ByLicensororLicensee,intheeventthatEscrow4all: : has petitioned for suspension of payment(s) and/or has been declared bankrupt;or : hasbeendissolvedandliquidatedorclosesdownitsbusinesses;or : has committed a material breach of this Agreement, which is not resolved within20businessdaysafterwrittennoticeofdefault. (c) ByEscrow4all,intheeventthatthefeeshavenotbeenpaid,andLicenseehasnotpaid suchfeesafterreceiptofawrittennoticeofdefaultbyescrow4all,pursuanttowhicha reasonabletermforpaymentisgranted Licensor, having deposited the Material on behalf of Licensee, has no right to unilaterally terminate the Agreement without the prior written consent of Licensee being provided to Escrow4all,otherthaninthespecificcircumstancesasdefinedunderClause10.2subB After termination of this Agreement pursuant to Clause 10.2 sub A and sub C above, Escrow4all shall destroy all related Material or, upon written request of Licensor and at Licensor scost,returnthematerialtolicensor. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 10 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

12 10.5 IncasethisAgreementisterminatedinaccordancetoClause10.2subB,Licensorisobligedto deposit the Material with another escrow provider at Licensee s choice on terms and conditionssimilartothoseinthisagreement.escrow4allthereuponisobligedtotransferthe Material,toeithertheescrowproviderdesignatedbyLicenseeor,incaseLicenseedecidesnot tocontinuetheescrowarrangement,tolicensoritself In the event that this Agreement terminates after release of the Material to Licensee in conformity with the provisions of this Agreement, the provisions with respect to the obligationsoflicensee(clause4.2)andconfidentiality(clause7)shallremainapplicable. Clause11 Miscellaneous 11.1 InallcaseswheretheAgreementmentionstheobligationstogivewrittennotice,suchnotice shallbesenttothefollowingaddresses: For(Licensor:( [NameCompany] [NameContact operational] [PostalAddress] [PostalCode+City] [Country] [ Address] [Telephonenumber] [VATNumber]( For(Licensee:( [NameCompany] [NameContact operational] [PostalAddress] [PostalCode+City] [Country] [ Address] [Telephonenumber] [VATNumber]( For(Escrow4all:( Escrow4allBV AttnCustomerServices MediArena7 1114BCAmsterdam: Duivendrecht thenetherlands helpdesk@escrow4all.com Tel ( 11.2 ThisAgreementmaybeexecutedinanynumberofcounterpartsandbydifferentpartiesin separatecounterparts.eachcounterpartwhensoexecutedshallbedeemedtobeanoriginal andallofwhichtogethershallconstituteoneandthesameagreement. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 11 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

13 Clause12 Assignment 12.1 LicensorundertakestomakethetermsofthisAgreementpartofanytransferofownershipof theintellectualpropertyrightsoftheproducttoathirdparty In the event of a transfer as described in Clause 12.1, Licensor shall provide written notificationtothiseffecttobothlicenseeandescrow4all. Clause13 ApplicableLaws&Disputes 13.1 This Agreement and all disputes arising from or in relation to this Agreement will be governedbythelawsofthenetherlands Subject to objection to release of the Material as described in Clause 6.5 all other disputes arising out of, in relation with or in connection with this Agreement or any agreements resultingfromwillbebroughtexclusivelybeforethecompetentcourtinamsterdam. Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 12 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

14 Signing Agreedon 2016 and: (1)SignedforandonbehalfofLicensor Name Position ((((((((((Authorised(Signatory) (2)SignedforandonbehalfofLicensee Name Position ((((((((((Authorised(Signatory) (3)SignedforandonbehalfofESCROW4ALL#B.V.# Name Position ((((((((((Authorised(Signatory) Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 13 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16

15 Annex1 EscrowMaterialOverview LicensordeclarestodepositwithEscrow4allthefollowingMaterialconcerningtheProductas specifiedbelow,inaccordancewiththetermsandconditionsoftheagreementthisannexispartof: Product (name(as(known(or(( licensed(to(licensee): Description# Yes# No( SourceCode TechnicalDocumentation# # Licensor Licensee Agreement(type:Sw3pEng(v1601.3) Licensor: SoftwareCompany Agreement(Number: 14 Date:dd:mm:2016 Licensee: SoftwareUser SW3P16