Terms & Conditions for N3xt Presale and Beta Agreement

Last Updated: January 10, 2018

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These beta terms and conditions govern the terms ("Terms", "Purchase Offer Terms") for placing pre-orders of N3xt Beta (the "Product") for all versions, editions and platforms.

Please review carefully before submitting your pre-order. By submitting your pre-order and confirming your payment details you agree to be legally bound by these Purchase Offer Terms. For the purposes of this document, when we say "The Company", "We", "Our" and "Us" it is in reference to The Web Electric Corp.

PRE-ORDER/REGISTRATION

Each pre-order you submit for a Product constitutes an offer to purchase that Product. Pre-orders are complete when we process your payment.

Placing a pre-order will require you to provide certain information, such as your address and billing information. You represent and warrant that all such information is accurate, and you shall ensure that such information is kept current. Company shall have no responsibility or liability for inaccurate information or information that later becomes outdated, and shall have no obligation to make efforts to determine the correct contact or shipping information. You can update your information by contacting us at support(at)webelectric(dot)com.

PRODUCT AVAILABILITY AND SHIPPING

Beta versions of N3xt are expected to be released in early 2018. These dates are only an estimate, and, as such, subject to change. The Company does not represent or warrant that it will be able to ship the Product by the estimated date.

In the event that a delay arises and the estimated shipment and/or release of the product is not met, The Web Electric Corp. is not responsible for any damages that may occur due to the delay, nor shall it be obligated, except as set forth in these Terms, to provide any discounts, refunds or credits due to any such delays. The Product will be made available at a time and in a way determined by the Company in its sole discretion.

NO CANCELLATION/REFUND

Once you place your pre-order, it is final, non­-cancellable and non­-refundable, except as specified in these Terms.

LENGTH OF PRE-SALE PERIOD

The Company may adjust, at its sole discretion, the duration of the pre-sale period, or may stop it at any time, for any reason, and restart it at a later date.

TERMS AND CONDITIONS OF PRESALE and SALE

The pre-order and purchase of the Product is subject to additional terms and conditions provided by Company, which will be made available with the Product itself. The current Terms of Sale can be requested from us and are subject to change without notice.

Pre-orders are subject to our acceptance and may be rejected at any time and for any reason at the Company's discretion. If the Company rejects your offer, we will, as your sole and exclusive remedy and the Company's sole and exclusive liability, refund the amount you paid. If you have any questions, comments, or concerns regarding our pre-order acceptance policy, or if you believe that your pre-order was rejected in error, please contact us.

The preorder of the Product may include an amount of "virtual goods" (also known as "Lumen") to be accessible and usable as a featured element within the N3xt platform, as defined in our product guides and specifications. Receipt of those specific amounts of "virtual goods" is exclusive to this pre-order and will be included as part of the Product's Beta release, and will therefore require its installation and use. As we make no warranties or guarantees regarding the product, the specific amounts, type, name and access of what is provided by the pre-sale may also be subject to change.

Lumen and other types of virtual goods may be obtained within the product through various activities, including so-called "Mining." Availability and behavior of these and other virtual goods/currency, activities that provide them or generate them, including Mining, is not guaranteed and no warranties or claims are made regarding their availability, access, or potential uses or value, or in relation to other crypto-currencies or blockchain implementations.

By agreeing to these Purchase Offer Terms, you represent and warrant to us that you are at least 18 years old and are legally able to accept these terms. If you are offering to purchase a Product on behalf of an entity, organization, or company, you represent and warrant that you have the authority to bind that organization to these Terms and you agree to be bound by these Terms on behalf of that organization.

In order for your offer to be eligible for our acceptance, you must pay the amount for the Product elected by you as set forth on the website by credit card through the payment method designated on our website. Payment does not guarantee acceptance of your pre-order.

PAYMENT

You will be charged in full at the time of placing the order.

Your placing of a pre-­order constitutes your express agreement to the company charging of your provided payment method at such time. The purchase price does not include any additional import/export duties, taxes (or any other cost such as shipping) beyond those included in the sale price, which are your responsibility.

PRIVACY

Information you provide for the purposes of pre-ordering the Product will not be used except as necessary to fulfill your order or as expressly set forth in our Privacy Policy, or as expressly described in Evaluation Feedback/Use of Your Feedback Data, below. We may also contact you from time to time with information relating to your purchase.

EVALUATION FEEDBACK/USE OF YOUR FEEDBACK DATA

The purpose of this pre-sale and offer is the testing and evaluation of the Beta Products and Documentation. You shall, at your convenience, provide feedback concerning the functionality and performance of the Beta Product. This feedback may include (without limitation) identifying potential errors, improvements, modifications, bug fixes, or enhancements

Feedback and other information provided by you to the Company in connection with the Beta Product or this Agreement may be used by The Web Electric Corp. to improve or enhance its products. Accordingly, you grant The Web Electric Corp. a non-exclusive, perpetual, irrevocable, royalty-free, worldwide right and license to use, reproduce, disclose, sublicense, distribute, modify, and otherwise exploit such Feedback and information without restriction. The data that we will store extends beyond the data currently referred to in the general website Privacy Policy, and may include all our communications with you regarding the Beta Product, as well as performance or telemetry data from the product, without including personally identifiable information.

BETA TERM AND TERMINATION

Unless otherwise terminated as specified under this Agreement, Your rights with respect to the Beta will terminate upon the earlier of the initial release of the next generally available version of the Product, or up to the maximum effective date as determined by the specific Beta version, which may include cryptographic signatures to prevent use of the application past a certain date.

Either party may terminate this Agreement at any time for any or no reason by providing the other party advance written notice thereof. Upon any expiration or termination of this Agreement, the rights and licenses granted to You under this Agreement shall immediately terminate, and You will immediately cease using the Products, Documentation, and all other items in Your possession or control that are proprietary to The Web Electric Corp. or the Product.

DISPUTES AND ARBITRATION

These Terms provide that all disputes related to these Purchase Offer Terms will be resolved by BINDING ARBITRATION. YOU AGREE TO GIVE UP YOUR RIGHT TO GO TO COURT to assert or defend your rights under this contract (except for matters that may be taken to small claims court.) Your rights will be determined by a NEUTRAL ARBITRATOR and NOT a judge or jury and your claims cannot be brought as a class action.

WARRANTY DISCLAIMER

Except as expressly provided in these Terms and to the maximum extent permitted by applicable law, the Beta Product will be provided "as is" and "as available", without guaranteed warranty of any kind, and Company hereby disclaims all warranties and conditions with respect to the product and preorder, either express, implied or statutory, including, but not limited to, the implied warranties and/or conditions of merchantability, satisfactory quality, fitness for a particular purpose, accuracy, and non-infringement of third party rights.

LIMITATION OF LIABILITY

To the extent not prohibited by applicable law, in no event shall the Company be liable for personal injury, or any incidental, special, indirect, or consequential damages whatsoever, arising out of or related to your use of or inability to use the Sensate device, however caused, regardless of the theory of liability (contract, tort, or otherwise) and even if the Company has been advised of the possibility of such damages. Some jurisdictions do not allow the limitation of liability for personal injury, or of incidental or consequential damages, so this limitation may not apply to you. In no event shall the Company’s total liability to you for all damages (other than as may be required by applicable law in cases involving personal injury) exceed the amount of your pre order. The foregoing limitations will apply even if the above stated remedy fails of its essential purpose.

Upon termination of these Terms, any provision that by its nature or express terms should survive, will survive.

Last Updated: January 10, 2018