Simple solutions for complicated option valuations and corporate reportings

Calculating "Black-Scholes" options pricing with the click of a mouse

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Software License/Service Agreement In return for acquiring a license to use or receiving services from Option123, LLC (hereafter, “Service”) by using the "Option123, v. 6.0/5.0/4.0" or "Black-Scholes Options Auto-Valuation Express / Model, v. 3.0/2.1/2.0)" or later versions (hereafter, "Software") and related documentation, you agree to the following terms and conditions: License. The License Agreement grants you, the Licensee, a license to: (a) use the Software on a single computer system or, in the case of a multi-user or networked system which permits access to the Software by more than one user at the same time, at a single working location; and (b) make copies of the Software in machine readable form solely for back-up purposes provided you reproduce Option123, LLC's copyright proprietary legends. Option123, LLC reserves the right to alter or modify the contents of the Software at any time. Restrictions. You may not distribute copies of the Software to others or electronically transfer the Software from one computer to another over a network. The Software contains trade secrets and in order to protect them you may not de-compile, reverse engineer, disassemble, or otherwise reduce the Software to a human-perceivable form. YOU MAY NOT MODIFY, ADAPT, TRANSLATE, RENT, LEASE, LOAN, RESELL FOR PROFIT, DISTRIBUTE, NETWORK OR CREATE DERIVATIVE WORKS BASED UPON THE SOFTWARE OR ANY PART THEREOF. Ownership of Software. As Licensee, you own the media upon which the Software is recorded or fixed, but Option123, LLC retains title and ownership of the Software recorded on the original media and all subsequent copies of the Software, regardless of the form or media in which or on which the original and other copies may exist. This license is not a sale of the Software or any copy. Confidentiality. You agree to maintain the Software in confidence and to not disclose the Software to any third party without the express written consent of Option123, LLC. You further agree to take all reasonable precautions to preclude access of unauthorized persons to the Software. Term. The Software ordered with standard purchase price is sold subject to a 30-day, no-questions-asked, satisfaction guarantee. If you are dissatisfied with the Software for any reason, you may return it to Option123, LLC within 30 days of your purchase for a refund. However, you must contact Option123, LLC either via email or by phone for a return authorization number and direction on or before the 30th day of your trial from the date of receipt. The Software is distributed under a comprehensive subscription program that grants the purchaser the right to use the program for one year from the date of purchase, subject to compliance with the license terms. You may send a renewal form to Option123, LLC, subject to acceptance of Option123, LLC, on or about the expiration of your subscription to extend your subscription with payment. Option123, LLC reserves the rights on whether or not to accept a renewal of a license. If you choose not to renew your subscription, your Software will cease functioning at the end of the expiration date of your subscription and the license is terminated immediately after the expiration date. All purchasers who maintain their subscription are entitled to receive all program updates during the term of their subscription, and have unlimited access to our customer services and e-mail support services during the business hours and monthly updates of reference to risk free interest rates or similar interest rates in the United States. All updates, including monthly risk free rate update and programming updates, are published, on a monthly basis, on our web-site. It is your responsibility to download them and replace your existing ones. This license is effective in the license subscription period, unless terminated earlier. The Agreement will terminate automatically without notice if you fail to comply with any provisions of this Agreement. You may terminate the license at any time by destroying the Software (including the related documentation) together with all copies or modifications in any form. Option123, LLC will have the right to terminate your license immediately if you fail to comply with any term or condition of this Agreement. Upon any termination, including termination by you, you must destroy the Software (including the related documentation) together with all copies or modifications in any form. Limited Warranty. Option123, LLC warrants only that (1) the media upon which the Software is furnished will be free from defects in material or workmanship under normal use and service for a period of thirty (30) days from the date of delivery to you, and (2) the Software / Service performed by Option123, LLC in written format delivered to you will be conducted based on (i) its best understanding of theories/regulations in finance, spreadsheet or other related fields which it may overlook, misinterpret, and/or use it by mistake from time to time, (ii) its reasonable ability to search/obtain the required information from public sources, and (iii) its reasonable estimations in using similar information on certain required inputs to perform such service. OPTION123, LLC DOES NOT AND CANNOT WARRANT THE PERFORMANCE OR RESULTS YOU MAY OBTAIN BY USING THE SOFTWARE OR DOCUMENTATION OR SERVICES. THE FOREGOING STATES THE SOLE AND EXCLUSIVE REMEDIES OPTION123, LLC WILL PROVIDE FOR BREACH OF WARRANTY. EXCEPT FOR THE FOREGOING LIMITED WARRANTY, OPTION123, LLC MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO NON-INFRINGEMENTOF THIRD PARTY RIGHTS, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The limited warranty gives you specific legal rights; you may have others which may vary from state to state. Some states do not allow the exclusion of incidental or consequential damages, or the limitation on how long an implied warranty lasts, so some of the above may not apply to you. Limitation of Liability. In the preparation of the Software / Service, every effort has been made to offer the most current, correct, and clearly expressed information possible. Nonetheless, inadvertent errors can occur and rules and regulations governing personal finance and investing often change. Further Option123, LLC specifically disclaim any liability or loss that is incurred as a consequence of the use and application, directly or indirectly, of any information presented in this Software / Service. This Software sold with the understanding that Option123, LLC is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. IN NO EVENT WILL OPTION123, LLC BE LIABLE TO YOU FOR ANY SPECIAL DAMAGES, INCLUDING ANY LOST PROFITS, LOST SAVINGS, OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES, EVEN IF OPTION123, LLC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY CLAIM BY ANY OTHER PARTY. Limitation of Remedies. Option123, LLC's entire liability and your exclusive remedy shall be the replacement of any media not meeting Option123, LLC's limited warranty which is returned to Option123, LLC. In no event will Option123, LLC’s liability for any damages to you or any other person ever exceed the lower of the purchase price or actual price paid for the license/Service to use the Software/Service, regardless of any form of the claim. General. You acknowledge that you have read this Agreement, understand it, and that by using the Software and receiving Services you agree to be bound by its terms and conditions. You further agree that it is the complete and exclusive statement of the agreement between Option123, LLC and you which supersedes any proposal, purchase order or prior agreement, oral or written, and any other communication between Option123, LLC and you relating to the subject matter of this Agreement. No variation of the terms of this Agreement or any different terms will be enforceable against Option123, LLC unless Option123, LLC gives its express consent, including an express waiver of the terms of this Agreement, in a writing signed by an officer of Option123, LLC. You assume full responsibility for the use of the Software and agree to use the Software legally and responsibly. This Agreement shall be governed by Delaware law except as to copyright matters which are covered by Federal law. Should any provision of this Agreement be declared unenforceable in any jurisdiction, then such provision shall be deemed to be severable from this Agreement and shall not affect the remainder hereof. Option123, LLC is protected by United States copyright laws and other relevant jurisdictions. All rights in the Software not specifically granted in this Agreement are reserved by Option123, LLC

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