This APIsec Free Product License Agreement (hereinafter referred to as the “Agreement”) is entered into by and between: APIsec.ai Inc. , a Delaware USA corporation, with a principal office located at One Sansome St. Suite 3500, San Francisco, CA 94104 (hereinafter referred to as the “Licensor”), and Customer. Effective as of the date of acceptance (hereinafter referred to as the “Effective Date”).
1. License Grant
The Licensor grants the Customer a non-exclusive, non-transferable, revocable license to access and use the APIsec (the “Software”) under the terms and conditions of this Agreement. The Software is provided as a service through the internet.
2. TermThe Agreement begins on the Effective Date and continues until terminated by either party in accordance with Section 10.
3. Scope of Use
• The Customer may use the Software for its internal business operations only.
• The Customer shall not sublicense, sell, rent, lease, transfer, or otherwise distribute the Software to any
third party without prior written consent of the Licensor.
• The Customer shall not reverse engineer, decompile, or disassemble the Software.
4. Fees and Payment
For the duration of the free license, the Customer shall not be required to pay any license fees for the use of the Software. APIsec reserves the right to stop offering the free product at any time. APIsec can change the capabilities of the free product.
5. Customer Obligations
The Customer agrees to:
• Use the Software in compliance with all applicable laws and regulations.
• Maintain the confidentiality of any access credentials (such as passwords, API keys, etc.).
• Notify the Licensor immediately of any unauthorized access or use of the Software.
6. Licensor Obligations
The Licensor agrees to:
• Provide access to the Software in a manner consistent with industry standards.
• Protect the privacy and confidentiality of the data stored by the customer on the APIsec platform as best effort.
7. Intellectual Property
All intellectual property rights in the Software, including but not limited to copyrights, trademarks, and patents, are and shall remain the sole property of the Licensor. No title or ownership rights in the Software are transferred to the Customer by this Agreement.
8. Data and Privacy
The Licensor acknowledges that the Customer retains ownership over all data processed and stored by the Software on behalf of the Customer. The Licensor shall handle all Customer data in compliance with the Licensor’s www.apisec.ai/privacy
9. Warranties and Disclaimers
The Software is provided on an “AS IS” and “AS AVAILABLE” basis. The Licensor disclaims all warranties, whether express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
10. Termination
• The Licensor may terminate this Agreement immediately if the Customer breaches any terms of this Agreement.
11. Limitation of Liability
In no event shall the Licensor be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, or goodwill, arising from the use or inability to use the Software.
12. Indemnification
The Customer agrees to indemnify, defend, and hold harmless the Licensor from any and all claims, liabilities, damages, and expenses arising from the Customer’s use of the Software or breach of this Agreement.
13. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the California, United States without regard to its conflict of law principles.
14. Entire AgreementThis Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings relating to the subject matter.
15. AmendmentsThis Agreement may only be modified by a written amendment signed by both parties.
16. Notices
All notices required or permitted under this Agreement shall be in writing and sent to the addresses specified in this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.
APIsec.ai, Inc.
By: Faizel Lakhani
Date: Oct, 10, 2024
