a. "periodical fee": the amount of money due by the user for the data service subscription;

b. "Installation": the PC from which the single user can download and visualize the information provided by the service;

c. "STL client": the software used for downloading and inserting the data in the database, the upgrades sent and all the programs managing the sending and receiving operations;

d. "database": collection of tradables prices organized in different formats.

e. "Company": Stockloader s.r.l.

2. With the following contract the Company grants exclusively to the Customer, or to the person entitled by the latter, the right to use the STL client and/or the database, in conformity with the data services or databases purchased. (see 19)

3. The price list of the Company refers to one or more installations. Any further installation is forbidden, unless specifically stated in the subscription.

4. The Customer can use the data service for personal purposes only. The distribution of the STL client as stated in C is forbidden. The databases (as defined in D) cannot be distributed or commercialised.

5. Neither the Company nor third parties are responsible against the customer or third party for loss or damages, direct, indirect or emerging, caused by the inaccuracy, incompleteness, delays, interruptions or errors in the databases or in the data or other information provided to the Customer with the STL client.

6. Neither the Company nor third parties can be held responsible for the loss of commercial revenues, profits or any other damage (punitive, indirect, emerging, special or other) caused by decisions or actions taken from the Customer or third parties on the basis of the information provided through the service of the Company or derived from the elaboration of the database.

7. In no occasion will the Company be responsible of any indirect loss, including direct or indirect damages caused by a delay or defect of use in the STL client. The Company is not responsible for any damage caused by the STL client to the hardware, software of other property of the Customer.

8. In case the service will involve the access to data provided by third party suppliers who requires a contract, the Customer agrees to send to the Company’s premises all the forms required in the named contract, filled in and signed as necessary. The Company agrees to supply the stated forms and to accomplish all those operations needed for their management and custody.

9. In the event of an interruption, suspension or limitation of the service for reasons chargeable to the Company or third party, for accidental causes or for legislative or administrative provisions for a period shorter than 10 (ten) days, the Customer won’t have the right for any refunding or compensation or amount of money otherwise defined. At the tenth day, the Customer can ask the resolution of the contract and obtain the refunding of the fee for the remaining subscription period. Any further compensation or refunding is excluded from this contract.

10. The Company reserves the right to modify at any time the composition of the update packages, increasing or decreasing the amount of data contained.

11. The Company reserves the right to transfer all or a part of the rights and obligations coming from this agreement to a subsidiary company, affiliated or third party.

12. The following contract comes into force from the moment of activation of the service and has an unlimited time duration. It can be ended at the payment of the periodical fee. The non-payment of the fee has the value of resolution of the contract and will set the Company free from any obligation of service supply. The absence of any communication close to the expiration of the subscription will thus have value of cancellation of the service and not of tacit renewal, as to protect the Customer.

13. The Company can modify the periodical fees by informing the Customer by sending him the new price list or by publishing it on its website. The modification will become effective for the subscribers after the expiration of their current subscriptions.

14. The Company will invoice the Customer after the payment of the advance fee and will be sent to the address provided by the Customer.

15. The Company has the right to replace at any time and entirely or in part the STL client.

16. The Company reserves the right, except 5 days notice, to suspend the service in case of non-observance of the conditions stated in this contract.

17. Any dispute concerning the interpretation or execution of this contract will be solved by the Court of Turin (Italy). The applicable law will be the Italian law, even if signed between non-Italian individuals.

18. In the event of purchase of a database, this contract is valid in the points: 1, 2, 3, 5, 6, 7.