Pen&Paper provides a variety of products, services and data that may be made available through the web site, printed publications, and other means (collectively, “Pen&Paper Services”).  

THE TERMS OF THIS AGREEMENT GOVERN YOUR ACCESS TO AND USE OF THE PEN&PAPER SERVICES AND THEIR CONTENT, INCLUDING BUT NOT LIMITED TO, THE DATA, RANKING SYSTEMS AND SOFTWARE PROVIDED WITHIN THE PEN&PAPER SERVICES. YOUR COMPLIANCE WITH THESE TERMS AND CONDITIONS AND ALL OTHER AGREEMENTS IS A CONDITION TO YOUR RIGHT TO ACCESS AND USE THE PEN&PAPER SERVICES.  YOUR BREACH OF ANY PROVISION OF THESE TERMS AND CONDITIONS OR OTHER AGREEMENTS WILL AUTOMATICALLY, WITHOUT THE REQUIREMENT OF NOTICE OR OTHER ACTION, REVOKE AND TERMINATE YOUR RIGHT TO ACCESS THE PEN&PAPER SERVICES AND YOU WILL BE FULLY LIABLE FOR CLAIMS AND CAUSES ARISING FROM OR RELATING TO YOUR CONTINUED USE OF THE SITE AFTER SUCH BREACH. UNAUTHORIZED USE OF THE PEN&PAPER SERVICES, INCLUDING BUT NOT LIMITED TO MISUSE OF PASSWORDS OR POSTED INFORMATION, IS STRICTLY PROHIBITED.

1 - Use Content At User’s Own Risk. Pen&Paper Services include a variety of information and tools, including certain rankings, financial information and explanatory information related to publicly traded equities and investment vehicles, including common stock, options, convertibles, bonds and mutual funds, as well as other content, software, media, and services (collectively, the “Content”).  Your use of the Content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the Content.

2 - No Warranty.  Pen&Paper Services and all Content are provided "as is" and on an "as available" basis without warranties of any kind, either expressed or implied, including without limitation warranties of merchantability or fitness for a particular purpose.  Neither Pen&Paper nor any of its Licensors(1) , suppliers, vendors warrants that the Pen&Paper Services and Content will be accurate, complete, uninterrupted, error free or free of viruses, worms, or other harmful components.

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE PERFORMANCE. NEITHER PEN&PAPER  NOR ITS CONTENT PROVIDERS SHALL BE CONSIDERED AN "EXPERT" UNDER THE SECURITIES ACT OF 1933. NEITHER PEN&PAPER  NOR ITS CONTENT PROVIDERS WARRANT THAT THIS SERVICE COMPLIES WITH THE REQUIREMENTS OF THE NASD OR ANY SIMILAR ORGANIZATION OR WITH THE SECURITIES LAWS OF ANY JURISDICTION.

3 - Limitation of Liability.  Under no circumstances shall Pen&Paper its Licensors, suppliers, vendors, agents and its officers, directors, employees be liable for any direct, indirect, incidental, special, punitive or consequential damages that result in any way from your use of any Pen&Paper Services, your use, non-use or reliance upon the Content, or that result from mistakes, omissions, interruptions or deletions of files, errors or defects in the Pen&Paper Services or Content, delays in operation, transmission or failure of performance, whether or not such damages might have been foreseeable.  If you are dissatisfied with any of the Pen&Paper Services or Content, or with any of the terms and conditions, your sole and exclusive remedy is to discontinue using the Web Site(s).

4 - Sub-licensing and Other Distribution Prohibited. Pen&Paper Services and Content is provided only for personal use by one non-professional client or for professional use by one Professional Client .  All forms of sub-licensing, reselling, republication or other form of distribution, including internet posting, electronic mailing, faxing, archiving in a public database, redistributing via a computer network, or in a printed form, to other parties of any Pen&Paper Services or Content, including username and password information, are strictly prohibited.

5- Ownership and Copyright. You acknowledge and agree that the Service (including, without limitation, all information contained in
or associated with it) is owned by Pen&Paper and is protected by international copyright and other intellectual property laws. You further
acknowledge and agree that the Service contains certain proprietary data and information of Pen&Paper  and its Content Providers, that you will not use these data or information for any unlawful or unauthorized purpose, and that you will use reasonable efforts to protect them from illicit distribution or use. Each Content Provider is a third party beneficiary of this Agreement to the extent necessary to enable it to
enforce its proprietary rights in the data and the applicable use restrictions contained in this Agreement.

6 - Ownership of Materials on Website.  Pen&Paper and its Licensors, suppliers, and assignees, are the sole and exclusive owners of all right, title and interest, including trademarks, copyrights, patents, trade names, trade secrets and other intellectual property rights, in the Content.  All rights are reserved.  You may make one offline copy of the Content for your own personal use; however, you may not otherwise copy, modify, adapt, reproduce, republish, download, translate, reverse engineer, decompile, disassemble, distribute, sublicense, assign or use any aspect of the Pen&Paper Services or Content except as expressly provided in this agreement. Pen&Paper the Pen&Paper Logo, The Most Trusted Name in Investment Research, The Pen&Paper Investment Survey, “Smart research. Smarter investing.”, Pen&Paper Select, The Pen&Paper Special Situations Service, Timeliness and Safety are trademarks or registered trademarks of Pen&Paper Inc. and/or its affiliates in the United States and other countries (“Pen&Paper Trademarks”).  All other brands and names are the property of their respective owners.  You may not use, adopt or attempt to register anywhere in the world, whether alone or together with any other mark, symbol, or name, any trade name or mark or service name or mark that is similar or confusingly similar to the Pen&Paper Trademarks.

7 - Governing Law.  This agreement shall for all purposes be governed, interpreted, construed and enforced solely and exclusively in accordance with the law of the State of New York, USA (excluding its law of conflict of laws).  You hereby agree that the courts located in the State and County of New York, USA shall constitute the sole and exclusive forum for the resolution of any and all disputes arising out of or relating to this agreement or its subject matter and you hereby consent to the jurisdiction and venue of such courts and irrevocably waive any objections thereto, including on grounds of forum non conveniens.  You agree to comply with all applicable laws, including those regarding the accessing and exporting of data.

8 - Limited Right to Use.  Pen&Paper grants you a limited right to use the Pen&Paper Services and Content.  Your right to use the Pen&Paper Services and Content is subject to your agreement to abide by these Terms and Conditions. Pen&Paper may deny you access to all or part of the Pen&Paper Services or Content without notice if you engage in any conduct or activities that Pen&Paper in its sole discretion, believes violates applicable law or any term of this agreement.

9 - Indemnification.  You agree to defend, indemnify and hold Pen&Paper, its affiliates, their suppliers, Licensors, contractors and agents, and their respective officers, directors, and employees harmless from any and all claims (including, but not limited to, claims for defamation, trade disparagement, privacy and intellectual property infringement), damages, liabilities, costs and expenses, including reasonable attorneys’ fees, arising from or related to (a) any violation of this agreement or any use of the Pen&Paper Services and Content by you or authorized users of your account, or (b) Pen&Paper's use of any content or information you provide.

10 - User’s Representations and Warranties.  You represent and warrant that: (i) you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to these Terms and Conditions; (ii) you have not and you will not enter into any agreement or perform any act which might contravene the purposes and/or effects of these Terms and Conditions; (iii) your use of the Pen&Paper Services and Content is in compliance with law; and (iv) you will not interfere with or delete any Pen&Paper Services and Content.

11 - Severability.  In the event that any portion of this agreement is held to be unenforceable, the unenforceable portion shall be construed in accordance with applicable laws as nearly as possible to reflect the original intentions of the parties and the remainder of the provisions shall remain in full force and effect.

12 - Waiver.  Pen&Paper's failure to insist upon or enforce strict performance of any provision of this agreement shall not be construed as a waiver of any provision or right.  Neither the course of conduct between parties nor trade practice shall act to modify any provision of this agreement. The failure of Pen&Paper to act with respect to a breach of these Terms by you or others does not constitute a waiver and will not limit Pen&Paper's rights with respect to such breach or any subsequent breaches.

13 - Third Party Websites.  The Web Sites may contain electronic hyperlinks to other third-party web sites.  Pen&Paper offers these hyperlinks as an accommodation to you and other users, but does not make any representations with respect to the accuracy, quality or suitability of the content provided on web sites located through such hyperlinks, nor are we responsible for the practices of such other sites and sponsoring companies.  When you leave our Web Sites by means of a hyperlink, you are subjecting yourself to policies and practices employed by the operators of the other web sites.

14 - Web Site Security.  Pen&Paper makes no warranty whatsoever to you, express or implied, regarding the security of the Pen&Paper Services, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this service. You may not violate or attempt to violate the security of the Pen&Paper Services.  Tampering with any portion of the Pen&Paper Services, providing untruthful or inaccurate information, misrepresenting your identity, or conducting fraudulent activities on the Pen&Paper Services, whether or not through the use of agents, are prohibited and constitute a breach of these Terms and Conditions.

You are prohibited from violating or attempting to violate the security of the Pen&Paper Services, including, without limitation, (a) accessing data not intended for you or logging onto a server or an account which you are not authorized to access; (b) disabling, removing, defeating, or avoiding any security device or system, including, without limitation, any password and login functionality used to authenticate users; (c) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization; (d) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to any Pen&Paper Services, overloading, "flooding," "spamming," "mailbombing" or "crashing;" (e) sending unsolicited email, including promotions and/or advertising of products or services; (f) forging any TCP/IP packet header or any part of the header information in any email or posting; (g) using or attempting to use any engine, software, tool, agent or other device or mechanism (including, without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Pen&Paper Services other than the search engine and search agents available within the Pen&Paper Services and other than generally available third party web browsers; (h) reverse engineering, decompiling or disassembling the underlying software; (i) removing any notices, warnings, labels, annotations or instructions from any portion of the Pen&Paper Services and Content or any related material, including, without limitation, any patent, trademark, copyright, or other proprietary notices or license provisions; or (j) otherwise invading the privacy of, obtaining the identity of, or obtaining any personal information about any user of the Pen&Paper Services.

Any violations of system or network security including attempts to intentionally access a computer without authorization or exceed your authorized access level may be a violation of law. Pen&Paper may investigate occurrences that might involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.  We may, without prior notice or warning of any kind, restrict or terminate the access of any and all users to the Pen&Paper Services if we reasonably conclude that such restriction or termination is necessary to prevent, or prevent the further spread of, a virus, security breach or system malfunction.

15 - Services Availability.  Pen&Paper strives to keep the Pen&Paper Services available on a continuous basis.  You acknowledge that the Web Sites may be occasionally unavailable due to such periodic maintenance or to other unexpected interruptions, and Pen&Paper is not responsible for inaccessibility during such downtimes.

16 - Updates.  Pen&Paper may modify the Pen&Paper Services and Content or this Agreement at any time by notifying you of the change in writing or electronically (including without limitation, by posting a notice on the Web Sites that the terms have been “updated”).  You signify that you agree to be bound by such changes by using the Pen&Paper Services after changes are made to this Agreement.  Pen&Paper makes no guarantee that the Content offered through any Pen&Paper Services will remain available for any specific period of time.
 
17 - Privacy.  Any use of the Pen&Paper Services is governed by our Privacy Policy, which is incorporated into these Terms of Use by reference. Your use of the Pen&Paper Services constitutes your confirmation that you have read and accepted the Privacy Policy. You expressly acknowledge and agree that the use and storage of any information available through use of the Pen&Paper Services is at your sole risk and responsibility. Registration data and other personal information about you are subject to our Privacy Policy.  If you access a Service using a password, you are solely responsible for maintaining the confidentiality of that password.  You agree to notify us promptly if you change your address or email so we can continue to contact you and send any notices required hereunder.  If you fail to notify us promptly of a change, then any notice we send to your old address or email shall be deemed sufficient notice.

18 - Subscription and Service. You may not use the Premium Service without a valid subscription from Pen&Paper. To obtain a subscription, you must register for the Premium Service either by completing the online registration form available on the Service or by calling the number listed below under "Customer Service and Product Support." Your subscription will not be valid unless and until Pen&Paper  accepts your registration. By registering for the Premium Service, you represent and warrant that all registration information that you provide is true, complete, and accurate, and you agree to notify Pen&Paper  promptly of any changes to this registration information. This notification can be effected either by editing your user profile in the Service or by calling the number listed below under "Customer Service and Product Support."

You may be offered a free trial subscription to the Premium Service, beginning on the date on which Pen&Paper  accepts your registration. If you don't terminate during this trial period, the initial term of your regular paid Premium Service subscription will start immediately after the free trial period ends, and will continue for the length of time that you selected when you registered. If you have taken a Premium Membership trial in the past 6 months, you will not receive a free trial and your credit card will be charged immediately for the subscription fee associated with the term you select.

You understand that, unless you notify us that you wish to terminate your subscription before the end of your then-current subscription term, your subscription will continue to automatically renew for successive terms of the same duration and your credit card will be charged for each such renewal at the subscription fee in effect at the time of that renewal. In those instances where you took advantage of a special or introductory offer to become a Premium Member, your subscription will automatically renew to the term specified in the offer and your credit card will be charged the subscription fee in effect at the time of that renewal. The term "subscription term" shall refer to the term of your subscription then in effect, regardless of whether it is the initial term or any renewal of that term.

PEN&PAPER  RESERVES THE RIGHT TO CHANGE THE PREMIUM SERVICE AT ANY TIME WITHOUT NOTICE (INCLUDING BUT NOT LIMITED TO ADDING OR REMOVING FEATURES). IF YOU ARE DISSATISFIED WITH ANY SUCH CHANGES, OR IF YOU ARE OTHERWISE DISSATISFIED WITH THE PREMIUM SERVICE (INCLUDING BUT NOT LIMITED TO ITS PERFORMANCE OR AVAILABILITY), YOUR ONLY REMEDY WILL BE TO CANCEL YOUR SUBSCRIPTION, AS SET FORTH BELOW.

Your subscription is personal to you, and you may not transfer or share your subscription with any other person (including but not limited to your coworkers) other than immediate family members living in the same household, provided that: (i) such family members have read and agree to be bound by the terms and conditions of this Premium membership Agreement; (ii) your subscription is not simultaneously used by more than one person at any given time; and (iii) you agree to be responsible for any use of your subscription by those other family members.

You agree to pay the subscription fees and any other charges incurred in connection with your user name and password (including any applicable taxes) at the rates in effect when the charges were incurred.  Subscription fees will be billed at the beginning of your subscription or any renewal.  Unless we state in writing otherwise, all fees and charges are nonrefundable.  We may change the fees and charges then in effect, or add new fees or charges, by giving you notice in advance.

19 - Charges and Billing Practices. If offered a free trial period, you will not be charged a subscription fee during that free trial period but may be subject to Printing Fees if you print out more than the maximum number of Printable Reports allowed during your trial period (see above). Subscription Fees on credit-card transactions will be authorized immediately, but not actually processed; Printing Fees will be processed when incurred. If you remain a Premium member when the free trial period ends, you will be charged for the initial term of your subscription and then, at the beginning of each renewal term, if any, for the subscription fee for that renewal term. Subscription fees will be based upon the subscription rates in effect at the start of each subscription term and apply whether or not you actually use the Premium Service during that term. You can always find the current retail subscription rates by reviewing the Member Benefits on the Service. Printing fees will be assessed at the then-current rate at the time of printing. Subscription fees and Printing Fees are nonrefundable, except as set forth below.

Pen&Paper  reserves the right to change the fees it charges for products, services or features (collectively, "Products") offered in connection with the Premium Service and/or the Service at any time. These sorts of changes include, but are not limited to, adding fees for new/optional Products and/or modifying fees for existing Products. By using any of the Products, with which there are associated fees, you agree to pay those fees. If you do not want to pay these associated fees, you must cancel your subscription, as set forth below.

Subscription fees and all others fees and charges associated with your subscription (including, but not limited to, any applicable federal, state, and local taxes) will be billed automatically to the credit card you provide when registering for the Premium Service ("your credit card"). If your credit card is a VISA or MasterCard and the number or expiration date for your credit card changes for any reason (for instance, you get a new number because your old card expired, was stolen, etc.), that updated information may be automatically passed on from your credit card issuer to Pen&Paper, and if we do receive such information, it will be treated by Pen&Paper  as if it were originally furnished by you. To learn more about this service being provided by your credit card issuer, please contact them directly.

You must promptly notify Pen&Paper  (as set forth below) if any information related to your credit card changes is no longer valid or of any other change to the information you provided Pen&Paper  regarding your credit card (including, but not limited to, changes to your billing address or other pertinent contact information). Absent such notification, Pen&Paper  will assume that all of the information related to your credit card remains valid and will submit to the card processor all information that it requires for approval, both when you initially subscribe and, if applicable, upon the commencement of any renewal of that subscription. If any subscription fees or other charges billed to your credit card are declined for any reason, Pen&Paper  shall have the right to suspend your subscription until such subscription fees or other charges are paid in full. You agree to pay all costs (including attorneys' fees) incurred by Pen&Paper
 in collecting any unpaid subscription fees or other charges from you.

20 – Cancellation. If you bought your subscription through Pen&Paper , you may cancel your subscription by calling the telephone number listed under "Customer Service and Product Support" to notify Pen&Paper .  Pen&Paper  will not process cancellations submitted via email.

If you cancel your subscription during your free trial period, you will not be responsible for the payment of a subscription fee. However, except as otherwise provided herein, if you cancel your subscription at any time after your trial period expires, your membership will continue in effect until the monthly anniversary of the effective date of your paid subscription and then terminate on that date. (For example, if your paid subscription start date is on January 1 and you cancel on June 15, your membership continues until July 1, at which time it ends.) For Annual Members, any remaining charges will be refunded, prorated on a monthly basis, to your credit card after your membership is terminated.

Pen&Paper  may immediately cancel your subscription, without notice or liability, if it determines in its sole discretion that: (i) you have breached any portion of this User Agreement; or (ii) your use of or access to the Premium Service or the Service violates any applicable law or regulation or otherwise inhibits any other subscriber from using or accessing the Premium Service or any other service offered by Pen&Paper  on the Service. None of the foregoing limits any other legal, equitable, or contractual rights available to Pen&Paper .

Pen&Paper  may, in its sole discretion, choose not to renew your subscription by sending a notice of non-renewal at any time during your subscription term to the e-mail address you provided when completing your registration. You will be deemed to have received this notice, whether or not you saw it or the e-mail address provided by you continues to be valid. In the event of such a notice, your subscription will cease and will not automatically renew at the end of your then-current subscription term.

If you registered within the mobile Service and bought a subscription or upgraded a free account to a premium subscription by purchasing in the app, you may only cancel your subscription through Apple.  Please direct all questions regarding the status of your account to Apple and reference your Apple ID. Please refer to the Pen&Paper  for iPad License Agreement in the Apple iTunes app store for more details.

21 - Customer Service and Product Support. For customer service related to your Premium Service subscription (including information regarding registration and billing), contact Pen&Paper via telephone at (800)490-9192. For technical and product support related to your Premium Service subscription, please go to the Membership Services or Feedback section of the Service to contact Pen&Paper  via email. For customer service related to your subscription on the mobile Service, contact Pen&Paper  via telephone at (800)490-9192.


This User Agreement was last updated on September, 2016.