Terms of Service

These Terms and Conditions constitute a legal agreement between Sourcery Technologies, Inc. (“Sourcery” or “we” or “us”) and you and any person or organization for which you act that has a Sourcery account (“Customer”). This document describes the services Sourcery will provide to Customer as well as general terms and conditions related to services and support Sourcery will provide to Customer.

1. SERVICES AND SUPPORT

1.1Subject to the terms and conditions of this Agreement, Sourcery will provide Customer with access to the services described in Exhibit A (the “Services”). The Services are subject to modification from time to time at Sourcery’s sole discretion, for any purpose deemed appropriate by Sourcery. Sourcery will use reasonable efforts to give Customer prior written notice of any such modification.

1.2Sourcery will undertake commercially reasonable efforts to make the Services available twenty-four (24) hours a day, seven (7) days a week. Notwithstanding the foregoing, Sourcery reserves the right to suspend Customer’s access to the Services: (i) for scheduled or emergency maintenance, or (ii) in the event Customer is in breach of this Agreement, including failure to pay any amounts due to Sourcery.

1.3Subject to the terms hereof, Sourcery will provide reasonable support to Customer for the Services from Monday through Friday during Sourcery’s normal business hours


2. RESTRICTIONS AND RESPONSIBILITIES

2.1Access to the Services may require the Customer to install certain software applications. Customer agrees to be bound by any End-User Software Agreements that govern the installation and use of such client software applications. If Sourcery authorizes Customer to distribute any such application to its end user content customers (“End Users”), Customer may do so only after effectively binding such End Users to the applicable End-User Software Agreements provided by Sourcery for the benefit of Sourcery.

2.2Customer will not, and will not permit any third party to: reverse engineer, decompile, disassemble or otherwise attempt to discover the source code, object code or underlying structure, ideas or algorithms of the Services or any software, documentation or data related to the Services (“Software”) (provided that reverse engineering is prohibited only to the extent such prohibition is not contrary to applicable law); modify, translate, or create derivative works based on the Services or Software; use the Services or Software for timesharing or service bureau purposes or for any purpose other than its own use for the benefit of End Users; or use the Services or Software other than in accordance with this Agreement and in compliance with all applicable laws and regulations (including but not limited to any European privacy laws), intellectual property, consumer and child protection, obscenity or defamation).

2.3Customer will cooperate with Sourcery in connection with the performance of this Agreement by making available such personnel and information as may be reasonably required, and taking such other actions as Sourcery may reasonably request. Customer will also cooperate with Sourcery in establishing a password or other procedures for verifying that only designated employees of Customer have access to any administrative functions of the Services.

2.4Customer will designate an employee who will be responsible for all matters relating to this Agreement (“Primary Contact”). Customer may change the individual designated as Primary Contact at any time by providing written notice to Sourcery.

2.5Customer hereby agrees to indemnify and hold harmless Sourcery against any damages, losses, liabilities, settlements and expenses (including without limitation costs and attorneys’ fees) in connection with any claim or action that arises from an alleged violation of the foregoing or otherwise from Customer’s use of Services. Although Sourcery has no obligation to monitor the content provided by Customer or Customer’s use of the Services, Sourcery may do so and may remove any such content or prohibit any use of the Services it believes may be (or alleged to be) in violation of the foregoing.

2.6Customer will be responsible for maintaining the security of Customer account, passwords (including but not limited to administrative and user passwords) and files, and for all uses of Customer account with or without Customer’s knowledge or consent.

2.7Customer further acknowledges, agrees to and is bound by the Terms of Service and Privacy Policy on Sourcery’s website (as they may be updated from time to time), except to the extent expressly and directly in conflict with the terms hereof.

2.8Customer acknowledges and agrees that the Services operate on or with or using application programming interfaces (APIs) and/or other services operated or provided by third parties (“Third Party Services”). Sourcery is not responsible for the operation of any Third Party Services nor the availability or operation of the Services to the extent such availability and operation is dependent upon Third Party Services. Customer is solely responsible for procuring any and all rights necessary for it to access Third Party Services and for complying with any applicable terms or conditions thereof. Sourcery does not make any representations or warranties with respect to Third Party Services or any third party providers. Any exchange of data or other interaction between Customer and a third party provider is solely between Customer and such third party provider and is governed by such third party’s terms and conditions.


3. CONFIDENTIALITY

3.1Each party (the “Receiving Party”) understands that the other party (the “Disclosing Party”) has disclosed or may disclose information relating to the Disclosing Party’s technology or business (hereinafter referred to as “Confidential Information” of the Disclosing Party).

3.2The Receiving Party agrees: (i) not to divulge to any third person any such Proprietary Information, (ii) to give access to such Proprietary information solely to those employees with a need to have access thereto for purposes of this Agreement, and (iii) to take the same security precautions to protect against disclosure or unauthorized use of such Proprietary information that the party takes with its own proprietary information, but in no event will a party apply less than reasonable precautions to protect such Proprietary Information. The Disclosing Party agrees that the foregoing will not apply with respect to any information that the Receiving Party can document (a) is or becomes generally available to the public without any action by, or involvement of, the Receiving Party, or (b) was in its possession or known by it prior to receipt from the Disclosing Party, or (c) was rightfully disclosed to it [without restriction] by a third party, or (d) was independently developed without use of any Proprietary Information of the Disclosing Party. Nothing in this Agreement will prevent the Receiving Party from disclosing the Proprietary Information pursuant to any judicial or governmental order, provided that the Receiving Party gives the Disclosing Party reasonable prior notice of such disclosure to contest such order. In any event, Sourcery may collect data with respect to and report to others on the aggregate or anonymized response rate and other aggregate or anonymized measures of the Services’ performance and/or Service-related activity and/or use.

3.3Customer acknowledges that Sourcery does not wish to receive any Proprietary Information from Customer that is not necessary for Sourcery to perform its obligations under this Agreement, and, unless the parties specifically agree otherwise, Sourcery may reasonably presume that any unrelated information received from Customer is not confidential or Proprietary Information.

3.4Both Parties will have the right to disclose the existence but not the terms and conditions of this Agreement, unless such disclosure is approved in writing by both Parties prior to such disclosure, or is included in a filing required to be made by a Party with a governmental authority (provided such party will use reasonable efforts to obtain confidential treatment or a protective order) or is made on a confidential basis as reasonably necessary to potential investors or acquirers.


4. INTELLECTUAL PROPERTY RIGHTS

Except as expressly set forth herein, Sourcery alone (and its licensors, where applicable) will retain all intellectual property rights relating to the Service or the Software or any suggestions, ideas, enhancement requests, feedback, recommendations or other information provided by Customer or any third party relating to the Service and/or the Software (the “Feedback”), which are hereby assigned to Sourcery. Customer will not copy, distribute, reproduce or use any of the foregoing except as expressly permitted under this Agreement. This Agreement is not a sale and does not convey to Customer any rights of ownership in or related to the Service or Software, or any intellectual property rights.

Sourcery shall hold Customer harmless from liability to unaffiliated third parties resulting from infringement by the Service of any United States patent or any copyright or misappropriation of any trade secret, provided Sourcery is promptly notified of any and all threats, claims and proceedings related thereto and given reasonable assistance and the opportunity to assume sole control over defense and settlement; Sourcery will not be responsible for any settlement it does not approve. The foregoing obligations do not apply with respect to portions or components of the Services (i) not created by Sourcery, (ii) resulting in whole or in part in accordance from Customer specifications, (iii) that are modified after delivery by Sourcery, (iv) combined with other products, processes or materials where the alleged infringement relates to such combination, (v) where Customer continues allegedly infringing activity after being notified thereof or after being informed of modifications that would have avoided the alleged infringement, or (vi) where Customer’s use of is not strictly in accordance with this Agreement and all related documentation. Customer will indemnify Sourcery from all damages, costs, settlements, attorneys' fees and expenses related to any claim of infringement or misappropriation excluded from Sourcery's indemnity obligation by the preceding sentence.


5. PAYMENT OF FEES

5.1Customer will pay Sourcery the applicable fees as set forth on the Order Form (the “Fees”). If Customer use of the Services exceeds the users or usage set forth on the Order Form or the Exhibit, Customer will be invoiced at the end of each calendar month for the excess, at the rate set forth on the Order Form, and Customer agrees to pay the additional fees without any right of set-off or deduction. To the extent applicable, Customer will pay Sourcery for additional services, such as integration fees or other consulting fees. All payments will be made in accordance with the Payment Schedule and the Method of Payment described in the order form.

5.2Unpaid Fees are subject to a finance charge of one percent (1.0%) per month, or the maximum permitted by law, whichever is lower, plus all expenses of collection, including reasonable attorneys’ fees. Fees under this Agreement are exclusive of all taxes, including national, state or provincial and local use, sales, value-added, property and similar taxes, if any. Customer agrees to pay such taxes (excluding US taxes based on Sourcery's net income) unless Customer has provided Sourcery with a valid exemption certificate. In the case of any withholding requirements, Customer will pay any required withholding itself and will not reduce the amount paid to Customer on account thereof.


6. TERMINATION

6.1Subject to earlier termination as provided below, this Service Agreement is for the Service Term as specified in the Order Form.

6.2In the event of any material breach of this Agreement, the non- breaching party may terminate this Agreement prior to the end of the Service Term by giving thirty (30) days prior written notice to the breaching party; provided, however, that this Agreement will not terminate if the breaching party has cured the breach prior to the expiration of such thirty-day period. Either party may terminate this Agreement, without notice, (i) upon the institution by or against the other party of insolvency, receivership or bankruptcy proceedings, (ii) upon the other party's making an assignment for the benefit of creditors, or (iii) upon the other party's dissolution or ceasing to do business.

6.3All sections of this Service Agreement which by their nature should survive termination will survive termination, including, without limitation, restrictions, accrued rights to payment, confidentiality obligations, intellectual property rights, warranty disclaimers, and limitations of liability.


7. CLIENT SOFTWARE SECURITY

Sourcery represents and warrants that it will not knowingly include, in any Sourcery software released to the public and provided to Customer hereunder, any computer code or other computer instructions, devices or techniques, including without limitation those known as disabling devices, trojans, or time bombs, that intentionally disrupt, disable, harm, infect, defraud, damage, or otherwise impede in any manner, the operation of a network, computer program or computer system or any component thereof, including its security or user data. If, at any time, Sourcery fails to comply with the warranty in this Section, Customer may promptly notify Sourcery in writing of any such noncompliance. Sourcery will, within thirty (30) days of receipt of such written notification, either correct the noncompliance or provide Customer with a plan for correcting the noncompliance. If the noncompliance is not corrected or if a reasonably acceptable plan for correcting them is not established during such period, Customer may terminate this Agreement as its sole and exclusive remedy for such noncompliance.


8. WARRANTY DISCLAIMER

THE SERVICES AND SOURCERY CONFIDENTIAL INFORMATION AND ANYTHING PROVIDED IN CONNECTION WITH THIS AGREEMENT ARE PROVIDED "AS-IS," WITHOUT ANY WARRANTIES OF ANY KIND. SOURCERY (AND ITS AGENTS, AFFILIATES, LICENSORS AND SUPPLIERS) HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ALL IMPLIED WARRANTIES OF MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON- INFRINGEMENT.


9. LIMITATION OF LIABILITY

IN NO EVENT WILL SOURCERY (OR ANY OF ITS AGENTS, AFFILIATES, LICENSORS OR SUPPLIERS) BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, OR COST OF PROCUREMENT OF SUBSTITUTE GOODS, SERVICES OR TECHNOLOGY, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF THE SERVICES OR ANYTHING PROVIDED IN CONNECTION WITH THIS AGREEMENT, THE DELAY OR INABILITY TO USE THE SERVICES OR ANYTHING PROVIDED IN CONNECTION WITH THIS AGREEMENT OR OTHERWISE ARISING FROM THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS OR LOST SALES, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, EVEN IF SOURCERY HAS BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. THE TOTAL LIABILITY OF SOURCERY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY), OR OTHERWISE, WILL NOT EXCEED, IN THE AGGREGATE, THE LESSER OF (I) TEN THOUSAND DOLLARS, OR (II) THE FEES PAID TO SOURCERY HEREUNDER IN THE THREE MONTH PERIOD ENDING ON THE DATE THAT A CLAIM OR DEMAND IS FIRST ASSERTED. THE FOREGOING LIMITATIONS WILL APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY.


10. U.S. GOVERNMENT MATTERS

Notwithstanding anything else, Customer may not provide to any person or export or re-export or allow the export or re-export of the Services or any software or anything related thereto or any direct product thereof (collectively “Controlled Subject Matter”), in violation of any restrictions, laws or regulations of the United States Department of Commerce, the United States Department of Treasury Office of Foreign Assets Control, or any other United States or foreign agency or authority. Without limiting the foregoing Customer acknowledges and agrees that the Controlled Subject Matter will not be used or transferred or otherwise exported or re-exported to countries as to which the United States maintains an embargo (collectively, “Embargoed Countries”), or to or by a national or resident thereof, or any person or entity on the U.S. Department of Treasury’s List of Specially Designated Nationals or the U.S. Department of Commerce’s Table of Denial Orders (collectively, “Designated Nationals”). The lists of Embargoed Countries and Designated Nationals are subject to change without notice. Use of the Service is representation and warranty that the user is not located in, under the control of, or a national or resident of an Embargoed Country or Designated National. The Controlled Subject Matter may use or include encryption technology that is subject to licensing requirements under the U.S. Export Administration Regulations. As defined in FAR section 2.101, any software and documentation provided by Sourcery are “commercial items” and according to DFAR section 252.227-7014(a)(1) and (5) are deemed to be “commercial computer software” and “commercial computer software documentation.” Consistent with DFAR section 227.7202 and FAR section 12.212, any use modification, reproduction, release, performance, display, or disclosure of such commercial software or commercial software documentation by the U.S. Government will be governed solely by the terms of this Service Agreement and will be prohibited except to the extent expressly permitted by the terms of this Agreement.


11. MISCELLANEOUS

If any provision of this Agreement is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect and enforceable. This Agreement is not assignable, transferable or sublicensable by Customer except with Sourcery’s prior written consent. Sourcery may transfer and assign any of its rights and obligations under this Agreement with written notice to Customer. Both parties agree that this Agreement is the complete and exclusive statement of the mutual understanding of the parties and supersedes and cancels all previous written and oral agreements, communications and other understandings relating to the subject matter of this Agreement, and that all waivers and modifications must be in a writing signed by both parties, except as otherwise provided herein. No agency, partnership, joint venture, or employment is created as a result of this Agreement and Customer does not have any authority of any kind to bind Sourcery in any respect whatsoever. In any action or proceeding to enforce rights under this Agreement, the prevailing party will be entitled to recover costs and attorneys’ fees. All notices under this Agreement will be in writing and will be deemed to have been duly given when received, if personally delivered; when receipt is electronically confirmed, if transmitted by facsimile or e-mail; and upon receipt, if sent by certified or registered mail (return receipt requested), postage prepaid. Sourcery will not be liable for any loss resulting from a cause over which it does not have direct control. This Agreement will be governed by the laws of the State of California, U.S.A. without regard to its conflict of laws provisions. The federal and state courts sitting in San Mateo County, California, U.S.A. will have proper and exclusive jurisdiction and venue with respect to any disputes arising from or related to the subject matter of this Agreement, provided that either party may seek injunctive relief in any court of competent jurisdiction. Customer agrees to participate in press announcements, case studies, trade shows, or other forms reasonably requested by Sourcery. Sourcery is permitted to disclose that Customer is one of its customers to any third-party at its sole discretion.


EXHIBIT A – Services Provided

Sourcery may provide some or all of the following services to its customers. The sections below describe the different terms Sourcery may provide to its customers.

A. Invoices, Data Storage, Line-Item Extraction and Integrations

  1. Invoice data collection and processing – Sourcery receives invoices via email, electronic data interchange (EDI), fax, or direct upload from customer. Sourcery collates the invoices by delivery date, payment date and payment status and makes them available to Customer through the Sourcery Platform.
  2. Invoice upload – Invoices must be provided by Customer by scanning and emailing, or uploading invoices to Sourcery, or submitted by Customer’s vendors, unless otherwise agreed to by both parties.
  3. Line-item data – Sourcery extracts data for line items included in the invoices. Extracted data includes product number, product description, quantity purchased, price and pack size.
  4. Categorization – Customer can use Sourcery to categorize invoices by separate accounting categories from the Customer’s chart of accounts. Customer will have the ability to categorize individual line-items, in which case Sourcery will use the customer’s suggestions to automatically categorize invoices by line-items.
  5. Accounting integration – Sourcery will work with Customer and relevant third parties to establish a data interchange format allowing Customer to export all invoices, transactions and categorizations from Sourcery to Accounting Software on a regular basis.
  6. Digital records – Sourcery provides anytime access to digital records of all invoices processed on its platform. Sourcery uses Amazon Web Services for storage. Customer owns all data stored on the Sourcery platform, and can print or download individual or batched invoices at any time. If Customer terminates service, Sourcery will work with Customer to ensure that all invoice data is transferred to Customer to its full satisfaction.
  7. Data accuracy – Sourcery uses a multi-step verification process to ensure a data accuracy rate of about 99.92%.
  8. Exceptions – As we learn the nuances of your vendors’ invoices and your internal coding processes, Sourcery will provide a buyer-facing invoice “Needs Review Bucket” on your account through which you will be able to collaborate with us and teach us about your nuances so we can improve invoice verification and coding time.
  9. Access – Sourcery provides unlimited user access.
  10. Cost management and analysis tools – In addition to integration with Accounting Software, Sourcery’s platform provides CSV exports of invoice and payment history, as well as a graphical dashboards of spend by vendor and by category. In some cases a declining budget tool can be produced for Customer.

B. Payments and Statement Reconciliation

  1. Payment processing – Payments will be queued up for Customer’s approval, and can be paid on-demand or batch paid on Sourcery’s online payment interface. Payments to vendors will be issued via direct deposit, check, or credit card.
  2. Payment processing approval – Online payment interface is subject to user permissions.
  3. Payment processing fees – ACH and check processing fees are included in the Fees. Credit card processing fees and any international foreign exchange fees are not included in the Fees.
  4. Invoice management – Customer can hold/float invoices, dispute invoices and revise payment totals directly on the Sourcery platform.
  5. Paid invoices and COD invoices – Customer can send paid invoices to Sourcery for digital storage. Paid invoices sent by Customer to Sourcery must be marked as “paid” within Sourcery to avoid double payment. Alternatively, Customer can provide Sourcery with advance notice on which vendors will be paid outside of Sourcery.
  6. Statement Reconciliation – Sourcery will extract data from statements and identify missing invoices in the system as well as invoices for which the invoice total and statement total are not the same.

C. Support and Training Services

  1. Training – Sourcery will provide on-site and off-site training to designated Customer’s employees and stakeholders.
  2. Ongoing support – Sourcery will provide technical support via phone from 9:00am PST to 7:00pm PST, Monday through Friday; email support from 8:00am PST to 8:00pm PST, Monday through Friday; and remote assistance from 10:00am PST to 6:00pm PST, Monday through Friday. After hours support will be available as needed.
  3. Service requests – Sourcery will respond to service-related incidents and/or requests submitted by the customer in a timely manner.
  4. Customer will have access to dedicated account managers.

D. Uptime

Sourcery is currently using Amazon Web Services (“Service Provider”), which makes its services available 99.9% of the time, except as provided below. Availability will be calculated per calendar month, as follows:

Where:

  • "Total" means the total number of minutes in the calendar month;
  • "Non-excluded" means downtime that is not excluded; and
  • "Excluded" means:
    • Any Planned Downtime
    • Any unavailability caused by circumstances beyond Service Provider’s reasonable control, including, without limitation, acts of God, acts of government, flood, fire, earthquakes, civil unrest, acts of terror, strikes or other labor problems (other than those involving Service Provider employees), or third-party Internet service provider failures or delays (other than those Internet service providers under contract with Service Provider).

Planned Downtime means downtime for which Service Provider gives Sourcery 48 or more hours’ notice via an email communication.


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