Document:

Sale, Sublease, Assignment & License Agrmnt

EXHIBIT 10.33 
 
Sale, Sublease, Assignment and License Agreement 
 
This Sale, Sublease, Assignment and License Agreement is
effective as of November 15, 2002 (the “Effective Date”), and is made by Equifax Inc., a Georgia corporation (“Equifax”), and Seisint, Inc., a Florida corporation (“Seisint”). 
 
Recitals 
 
This Agreement sets forth the replacement and cancellation of
the Master Agreement and the DMS Transaction Document by Equifax and Seisint (each a “Party” and collectively the “Parties”). 
 
In consideration of the covenants and agreements set forth in this Agreement and for valuable and sufficient consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 
1.    Definitions 
 
In addition to any term capitalized and defined in this Agreement, capitalized terms used in this Agreement shall have the meaning set forth in Exhibit A. 
 
2.    Sale and Sublease of the Equipment 
 
a.    Pursuant to the terms of this
Agreement and the terms and conditions of the Bill of Sale in the form attached hereto as Exhibit B, Seisint shall sell to Equifax the Equipment identified in Section A(1) of Schedule 1. 
 
b.    Pursuant to the terms of this
Agreement and subject to Seisint’s contractual ability to sublease the Equipment, Seisint shall sublease to Equifax the Equipment identified in Section A(2) of Schedule 1 pursuant to and in accordance with a Sublease in the form attached
hereto as Exhibit C. The Parties agree to accept commercially reasonable changes, if any, to the Sublease requested by each lessor party to the Leased Equipment Agreements. Seisint shall cooperate with Equifax and take all commercially
reasonable action to obtain from each lessor party to the Leased Equipment Agreements a consent to the sublease by Seisint to Equifax of the Equipment. At Equifax’s request, Seisint also shall cooperate with Equifax and take all commercially
reasonable action to obtain from each such lessor a grant of an option to purchase the Equipment upon the event of default by Seisint under a Leased Equipment Agreement and/or upon expiration of a Leased Equipment Agreement. At Equifax’s
request, Seisint also shall cooperate with Equifax and take all commercially reasonable action to obtain an assignment of the portion of the Leased Equipment Agreements applicable to the Equipment that Seisint subleases to Equifax pursuant to the
Sublease or a buyout of such portion of the Leased Equipment Agreements or a new lease(s) directly with Equifax for such portion of the Equipment. At Equifax’s request, Seisint will exercise its option under either or both of the Leased
Equipment Agreements to purchase the Equipment subject to such Leased Equipment Agreements and then sell such Equipment to Equifax at the same cost Seisint incurred to exercise its option to purchase such Equipment. 
 
c.    Seisint shall sell or sublease, as
the case may be, the Equipment to Equifax “as is.” Seisint does not warrant that the Equipment is fit for a particular purpose, or that the Equipment is of merchantable quality, and Seisint disclaims all other warranties regarding the
Equipment of any kind, whether actual or implied; provided however, Seisint warrants that (a) subject to Seisint having the right under the Leased Equipment Agreements to sublease to Equifax the Equipment, it has the right to sell and/or sublease
the Equipment to Equifax, (b) the configuration and integration of the Equipment does not infringe on the intellectual property rights of any third party, (c) in selling and/or subleasing the Equipment to Equifax, Seisint is not violating the
intellectual property rights of any third party, (d) the Equipment is unencumbered by any adverse Claims, liens, security interests or judgments that would inhibit in any way Equifax’s possession, use and enjoyment of the Equipment, except that
such Equipment is subject to the rights of each lessor party to the Leased Equipment Agreements, (e) it shall not amend or modify or default under the Leased Equipment Agreements, and (f) there is no default or circumstances that with the giving of
notice and/or the passage of time will become defaults under the Leased Equipment Agreements. Wherever contractually possible and/or commercially reasonable, Seisint shall transfer to Equifax any and all third party warranties related to or
applicable to the Equipment. 

 
3.    Assignment of the Assigned Commercial Software 
 
a.    Pursuant to the terms of this Agreement and in accordance with the terms and conditions of the Assignment Agreement in the form attached hereto as Exhibit D, Seisint
shall assign to Equifax the Assigned Commercial Software, and the attendant licenses to such Assigned Commercial Software; provided however, Seisint’s obligation to assign the Assigned Commercial Software is subject to Seisint’s
contractual ability to assign any Commercial Software. 
 
b.    Seisint shall take commercially reasonable measures to attempt to assign to Equifax all of the Commercial Software and shall cooperate with Equifax to attempt to effectuate such assignment. The Parties agree
to accept commercially reasonable changes, if any, to the Assignment Agreement requested by third parties who license to Seisint the Commercial Software. To the extent that any fees or costs in addition to those set forth in Section 9 of this
Agreement are incurred to effectuate such assignment, Equifax shall be responsible for such additional costs and fees. To the extent that new licenses must be negotiated to effectuate the assignment of any Commercial Software, Equifax shall bear
primary responsibility for negotiating such new licenses; provided however, Seisint shall provide Equifax commercially reasonable assistance in negotiating such new licenses with the third party licensors of such software. To the extent that Seisint
is not able to effectuate the assignment of any Commercial Software, Equifax acknowledges that it will need to purchase from third party vendors licenses for such software. 
 
c.    Seisint will assign the Assigned Commercial Software to Equifax “as is.”
Seisint does not warrant that the Assigned Commercial Software is fit for a particular purpose, or that the Assigned Commercial Software is of merchantable quality, and Seisint disclaims all other warranties regarding the Assigned Commercial
Software of any kind, whether actual or implied; provided however, Seisint warrants that (a) it has the right to assign the Assigned Commercial Software to Equifax, (b) in assigning the Assigned Commercial Software to Equifax, Seisint is not
violating the intellectual property rights of a third party and (c) the Assigned Commercial Software is unencumbered by any adverse Claims, liens, security interests or judgments that would inhibit in any way Equifax’s possession, use and
enjoyment of the Assigned Commercial Software. Wherever contractually possible and/or commercially reasonable, Seisint shall transfer to Equifax any and all third party warranties related to or applicable to the Commercial Software. 
 
4.    License of the Seisint DMS Core Technology

 
a.    Subject to the
release from escrow of the Seisint DMS Core Technology source code pursuant to Section 5 of this Agreement, Seisint hereby grants to Equifax, and its Affiliates, a non-exclusive, worldwide license to (i) use, operate and reproduce the Seisint
DMS Core Technology (object code and source code) solely for Internal Purposes within the DMS Scope and (ii) create derivatives, enhancements, modifications and extensions to the Seisint DMS Core Technology; provided however, Equifax may engage
third party contractors/service providers to provide outsourced services with respect to the Seisint DMS Core Technology from an Equifax Data Center (the “Restricted License”). All derivatives, enhancements or modifications to the
Seisint DMS Core Technology, whether made by Equifax or Seisint shall be owned by Seisint; provided however, such derivatives, enhancements or modifications developed by Equifax shall be licensed to Equifax during the Term and pursuant to the
Restricted License and, provided further, Equifax shall be authorized to disclose to members of its CMS project team any such derivatives, enhancements or modifications made to the Seisint DMS Core Technology. 
 
b.    Seisint shall license the Seisint
DMS Core Technology to Equifax “as is.” Seisint does not warrant that the Seisint DMS Core Technology is fit for a particular purpose, or that the Seisint DMS Core Technology is of merchantable quality, and Seisint disclaims all other
warranties regarding the Seisint DMS Core Technology of any kind, whether actual or implied; provided however, Seisint warrants on the Effective Date and for the Term that (a) it owns and has the right to license the Seisint DMS Core Technology to
Equifax, (b) the Seisint DMS Core Technology does not infringe on the intellectual property rights of any third party, (c) in licensing the Seisint DMS Core Technology to Equifax, Seisint is not violating the intellectual property rights of any
third party and (d) the Seisint DMS Core Technology is unencumbered by any adverse Claims, liens, security interests or judgments that would inhibit in any way Equifax’s possession, use and enjoyment of the Seisint DMS Core Technology or
Equifax’s full exercise of the license rights granted to it in this Agreement. 

 
c.    Seisint further warrants that it is providing to Equifax, pursuant to this Agreement and whether by sale, sublease, assignment, escrow or license, the complete DMS System and that it is in the same state as
it existed in Seisint’s possession and control as of the Effective Date, other than such Commercial Software that does not become Assigned Commercial Software. 
 
d.    Equifax shall limit access to the Seisint DMS Core Technology, including, but not
limited to, the attendant design documentation, executable code, and hardware configuration, to only such employees or third party contractors/service providers engaged by Equifax having a “need to know”, and Equifax shall use accepted
professional standards to protect the Seisint DMS Core Technology equal to the protections afforded Equifax’s own proprietary code and the Equifax Credit Data Base (the “Equifax Security Standards”). If the source code to the
Seisint DMS Core Technology is released pursuant to Section 5 of this Agreement, then Equifax shall not permit any more than three (3) Equifax employees to have access to the entire source code or design documentation set of the Seisint DMS
Core Technology and Equifax shall not permit any third party contractors/service providers engaged by Equifax to have access to the entire source code or design documentation set of the Seisint DMS Core Technology, but such third party
contractors/service providers engaged by Equifax may have access on a need to know basis pertaining specifically to such portion of the Seisint DMS Core Technology source code or design documentation immediately pertaining to the scope of work
directed by Equifax to such third party contractors/service providers. Equifax shall have the right to copy, in a manner consistent with the Equifax Security Standards, the Seisint DMS Core Technology source code (subject to its release as described
in Section 5 of this Agreement) and the Seisint DMS Core Technology object code; provided however, in regard to the Seisint DMS Core Technology source code, Equifax shall only be permitted (a) to maintain two (2) copies of such portion of the
Seisint DMS Core Technology source code for back up purposes, and (b) when actively working on the Seisint DMS Core Technology source code, to maintain additional copies of such source code solely for development of executable code file to be
promoted into production. Development shall be defined as the different stages that the source code will pass within the Equifax development environment to produce an executable file. Equifax shall have the right to copy the Application Software
source code and object code. 
 
e.    Commencing at the beginning of the first full calendar quarter after the Effective Date and, thereafter, at the beginning of each calendar quarter during the Term, Equifax and Seisint shall hold a quarterly
review at which time Seisint shall brief Equifax on and describe to Equifax any functional enhancements either (i) made to the Seisint DMS Core Technology or (ii) expected to be made, within the next two quarters, to the Seisint DMS Core Technology.
If, after any such quarterly review, Equifax desires to license one or more of the enhancements already made to the Seisint DMS Core Technology described by Seisint, then Seisint shall provide a code release containing the enhanced code to Equifax
at no additional cost. 
 
f.    Seisint shall maintain its ownership of, and all rights, title and interest in the Seisint DMS Core Technology. 
 
5.    Source Code Escrow 
 
a.    Within thirty (30) days of the Effective Date, Seisint shall place in escrow with an escrow agent reasonably
acceptable to both Parties and pursuant to a source code escrow agreement in the form attached hereto as Exhibit E the source code for the software comprising elements of the Seisint DMS Core Technology and all documentation attendant thereto
(the “Escrowed Code”). Seisint shall update the Escrowed Code through additional deposits with the escrow agent within ten (10) days of the date when Seisint provides Equifax enhancements to the Seisint DMS Core Technology pursuant
to Section 4(e) of this Agreement. Seisint shall provide a certificate to Equifax at the time of each deposit of the Escrowed Code with the escrow agent that the Escrowed Code is true, correct and complete, and Equifax shall have the right,
through its own personnel, at the time of each such deposit to review and certify that the Escrowed Code complies with this Section 5. Equifax shall bear the costs of such review and certification. 
 
b.    The term of the escrow shall be
until a release event occurs. The Escrowed Code shall be released from the escrow by the escrow agent upon any of the following events: 
 

	 	1.	 	Upon agreement of the Parties; 

 

 

	 	2.	 	(a) Upon the determination from a court of law that (i) Seisint materially breached this Agreement pursuant to Section 15(b) of this Agreement and (ii) such
breach was not cured by Seisint within the notice and cure period provided in Section 15(b), (b) if Seisint becomes insolvent or is unable to pay its debts or enters into or files (or has filed against it) a petition, arrangement, action or
other proceeding seeking relief or protection under the bankruptcy laws, or (c) if Equifax obtains a court order in response to Equifax’s request for injunctive relief (as detailed herein). Notwithstanding the foregoing, Seisint agrees that a
failure by Seisint to provide the Seisint Support as required under this Agreement will adversely affect Equifax’s ability to use and enjoy the Seisint DMS Core Technology and adversely affect Equifax’s business by compromising
Equifax’s ability to perform required support and maintenance for the Seisint DMS Core Technology. Accordingly, if Seisint materially breaches this Agreement by failing to provide the Seisint Support as required under this Agreement, then
Equifax shall be entitled to petition for injunctive relief in the form of an order of a court for release of the Escrowed Code; or 

 

	 	3.	 	(a) Upon the determination from a court of law that (i) Equifax breached this Agreement pursuant to Section 15(d) of this Agreement and (ii) such breach was
not cured by Equifax within the notice and cure period provided in Section 15(d) or (b) if Equifax becomes insolvent or is unable to pay its debts or enters into or files (or has filed against it) a petition, arrangement, action or other
proceeding seeking relief or protection under the bankruptcy laws. 

 
In the event of a release under item 1, the Escrowed Code shall be delivered to the Party designated in a joint notice from the Parties to the escrow agent, in the event of a release under item 2, the
Escrowed Code shall be delivered to Equifax and in the event of a release under item 3, the Escrowed Code shall be delivered to Seisint. 
 
c.    The Parties shall enter into a three party contractual arrangement with each other and the escrow agent in the
form of Exhibit E hereto, with commercially reasonable changes, if any, requested by the escrow agent, to implement the provisions of this Section 5. Equifax shall bear the cost of the escrow arrangement with the Escrow Agent.

 
6.    Sale of the Application Software

 
a.    Pursuant to the
terms of this Agreement and the terms and conditions of the Bill of Sale in the form attached hereto as Exhibit B, Seisint shall sell to Equifax the Application Software developed as of the Effective Date of this Agreement. Equifax shall own
all right, title and interest in and to the Application Software, and all patent, copyrights and trademarks and all other intellectual property rights embodied and/or practiced therein, including but not limited to all derivatives, enhancements,
modifications and improvements thereto. 
 
b.    Seisint shall sell the Application Software to Equifax “as is.” Seisint does not warrant that the Application Software is fit for a particular purpose, or that the Application Software is of
merchantable quality, and Seisint disclaims all other warranties regarding the Application Software of any kind, whether actual or implied; provided however, Seisint warrants on the Effective Date and for the Term that (a) it owns and has the right
to sell the Application Software to Equifax, (b) the Application Software does not infringe on the intellectual property rights of any third party, (c) in selling the Application Software to Equifax, Seisint is not violating the intellectual
property rights of any third party and (d) the Application Software is unencumbered by any adverse Claims, liens, security interests or judgments that would inhibit in any way Equifax’s possession, use and enjoyment of the Application Software
or Equifax’s ownership rights in the Application Software. 
 
7.    Exclusivity 
 
a.    Seisint shall not, directly or indirectly, with respect to the Seisint DMS Core Technology and/or the DMS Scope (i) perform or provide services for or to a DMS Competitor that are the same as or
substantially similar to the DMS Scope; (ii) provide software and/or equipment to a DMS Competitor to perform the DMS Scope or services or functions which are the same as or substantially similar to those comprising the DMS Scope; or (iii) provide
the intellectual property rights of the Seisint DMS Core Technology to a DMS Competitor to enable such DMS Competitor to develop software and/or equipment to perform services or functions in the DMS Scope or services or functions which are the same
as or substantially similar to those comprising the DMS Scope. Additionally, Seisint 

shall specifically prohibit all third parties to which Seisint provides services, software, equipment and/or intellectual property from
performing and providing services for the DMS Competitors in the DMS Scope. 
 
b.    The exclusive rights described herein shall remain in full force and effect for the Term and shall terminate only as follows: 
 

	 	1.	 	Upon agreement of the Parties, or 

 

	 	2.	 	Upon the expiration of the Term or a termination of this Agreement or the Restricted License for any reason, including a breach of this Agreement constituting a
default by either Party, except a termination by Equifax based on an intentional breach or default by Seisint or a refusal by Seisint to continue to perform its obligations under this Agreement. 

 
8.    Documentation 
 
Upon execution of this Agreement, Seisint shall provide to
Equifax (i) all existing technical documentation for the Equipment, Assigned Commercial Software, and the Application Software, as the case may be, that is in Seisint’s control or possession and (ii) the technical documentation related to the
Seisint DMS Core Technology that is identified in Schedule 2 to this Agreement.  
 
9.    Fees and Costs 
 
a.    On the Effective Date, Equifax shall pay to Seisint $6,000,000 (the “Initial Fee”); provided however, Equifax shall pay $283,937.36 of the Initial Fee into
escrow, to be held pursuant to a cash escrow agreement in the form attached hereto Exhibit F, for disbursement to pay future charges that are due and payable under the Leased Equipment Agreements and provided further that Equifax shall
withhold payment of $500,000 of the Initial Fee until thirty (30) days after the Effective Date. On each of the nine anniversaries of the Effective Date, Equifax shall pay to Seisint $750,000 (the “Annual Fee”). The Initial Fee and
each Annual Fee may be referred to in this Agreement collectively as the “Fees”. 
 
b.    Equifax’s payment of the Initial Fee shall obligate Seisint to sell and sublease to Equifax, as the case
may be, the Equipment; to assign to Equifax the Assigned Commercial Software (and attempt to assign to Equifax the Commercial Software); to license to Equifax the Seisint DMS Core Technology; to sell to Equifax the Application Software; and, at no
cost, to perform and provide the first year of Seisint Support, all in accordance with the terms and conditions of this Agreement. Equifax’s payment of the Annual Fee shall obligate Seisint to perform and provide the Seisint Support.

 
10.    Support 
 
a.    In consideration for payment of the
Fees and pursuant to the procedures set forth in Section 10(c) of this Agreement, Seisint shall provide to Equifax, for each year of the Initial Term, up to 2000 hours per year of training time and operation and technical support all within
the DMS Scope from Seisint personnel (the “Seisint Support”). The Seisint Support shall include, but not be limited to, the provision of senior level developers to aid and help through the exertion of commercially reasonable efforts
(i) to correct known but not yet rectified problems to the Seisint DMS Core Technology code, including memory image loads, model performance issues, enhanced attribute processing, ECL extension, and (ii) to bring the Seisint DMS Core Technology
current with Seisint’s then current technology code level. 
 
b.    At Equifax’s request, and upon the consent of Seisint, Seisint shall provide Equifax additional Seisint Support, in addition to the 2,000 hours per year of Seisint Support detailed above, at a rate of
$250 per hour, plus reasonable out-of-pocket expenses, payable on a monthly basis. 
 
c.    If Equifax desires for Seisint to perform the Seisint Support, Equifax must first contact the Seisint customer support hotline (at 561.999.8686) to notify Seisint that a
request will be submitted then, pursuant to the instructions from the hotline personnel, Equifax must submit a written request (by e-mail or otherwise) for such Seisint Support 

which such request must include a reasonable description of the Seisint Support Equifax desires for Seisint to perform (the
“SOW”). (i) If the Seisint Support described in the SOW requires less than one effort-day to complete, then, within four (4) business hours of receipt of the SOW, Seisint shall schedule and begin performing such Seisint Support in
good faith cooperation with Equifax. (ii) If the Seisint Support described in the SOW requires more than one effort-day to complete, then, within four (4) business hours of receipt of the SOW, Seisint shall respond in writing by giving Equifax an
estimate of the time expected to perform the Seisint Support and then cooperate in good faith with Equifax to schedule and begin performing such Seisint Support. (iii) If the Seisint Support requested in the SOW requests the development of an
enhancement, then Seisint shall respond in writing to the SOW within five (5) business days and either accept the SOW or request additional details regarding the requested enhancement to be made in which case the Parties shall have fifteen (15) days
to negotiate modifications or clarifications to the SOW. For purposes of this Agreement, one effort-day shall be equal to the amount of work one person can perform in eight hours. 
 
11.    Development of Transition Plan and Continued Use of Seisint Facilities 
 
a.    Commencing on the Effective Date,
Equifax and Seisint shall work together to develop a mutually agreed transition plan that, at a minimum, will include a fee schedule regarding the payment to Seisint of its fees and costs incurred in implementing the transition plan. The final,
mutually agreed transition plan shall be incorporated into this Agreement. 
 
b.    Seisint agrees that Equifax may continue to use the Seisint facility located in Boca Raton, Florida during the implementation of the transition plan; provided however,
Equifax’s use of this facility during this time period will be consistent with its use levels immediately prior to the Effective Date and Equifax must take commercially reasonable measures to vacate this facility by January 31, 2003 and
provided further that Equifax shall vacate this facility by February 28, 2003. From the Effective Date and so long as Equifax continues to use this facility, Equifax shall pay Seisint only for Equifax’s continued use of the data circuit to
Alpharetta, Georgia at the current rate as set forth in the Rules of Engagement. 
 
12.    Affected Employees, Nonsolicitation and Accenture Accounting Time 
 
a.    Equifax shall offer employment to the Affected Employees and shall offer them compensation packages in
accordance with the standard compensation and benefit packages that Equifax offers to similarly situated employees; provided however, the Affected Employees shall be offered a salary equal to or greater than the salary noted in Schedule 3.
Should Equifax desire to relocate its DMS project team, reasonable relocation reimbursements shall be included with all offers of employment to the Affected Employees. Seisint shall encourage the Affected Employees to accept Equifax’s offers of
employment. Except as agreed to in writing by Seisint and Equifax, Seisint shall not offer continued employment to the Affected Employees unless (i) special hardship circumstances exist, or (ii) it is mutually convenient for both Seisint and
Equifax. 
 
b.    Equifax
agrees that for the Initial Term, and for an additional two (2) years immediately thereafter, Equifax shall not (i) hire any Seisint personnel, except for Seisint’s administrative, accounting, facilities or telemarketing personnel, unless such
hiring is consented to in writing in advance by Seisint or (ii) otherwise communicate, except through general solicitations of employment not targeted at specific individuals, with Seisint personnel with the intent of making an offer of employment,
unless such communication is consented to in writing in advance by Seisint. 
 
c.    From the Effective Date and until November 30, 2002, Seisint shall provide to Equifax current levels of Accenture resources (which consists of eight (8) Accenture
employees’ time, based on a forty (40) hour work week). From December 1, 2002 and until December 31, 2002, Seisint shall provide to Equifax and will pay for the services of the following four (4) Accenture employees’ time, to be assigned
to work on the DMS System as based upon a forty (40) hour work week: Debbie Brown, Ken Kurzweil, Lac Consentine, and Ben Ray. Equifax agrees to pay all Accenture out-of-pocket expenses incurred for the provision of services by Accenture personnel
pursuant to this Section 12(c). 

 
13. Confidentiality

 
a.    Equifax and
Seisint each acknowledge that the other Party possesses and shall continue to possess information, that has commercial value in such other Party’s business and that is not in the public domain. Such information has been created, discovered,
developed by such other Party or provided to it by a third party, and such other Party holds property rights in such information by assignment, license or otherwise. 
 
b.    Equifax and Seisint each shall refrain from disclosing, shall hold as confidential
and shall use the same level of care to prevent disclosing to third parties, the Company Information of the other Party as it employs to avoid disclosure, publication or dissemination of its own information of a similar nature, but in no event less
than a reasonable standard of care. Notwithstanding the foregoing, either Party may disclose Company Information of the other Party as required by law and Equifax may disclose Company Information to third party contractors/service providers engaged
by Equifax where: (i) such disclosure is necessary to permit Equifax, or third party contractors/service providers engaged by Equifax, to perform services or functions in the DMS Scope or outsourcing services using the Seisint DMS Core Technology
from an Equifax Data Center, (ii) third party contractors/service providers engaged by Equifax agree in writing to observe the confidentiality and restricted use and disclosure covenants and standards of care set forth in this Section 13, and
(iii) Equifax in the case of Company Information received by Equifax from Seisint and disclosed by it as permitted herein, assumes full responsibility for the acts or omissions of third party contractors/service providers engaged by Equifax no less
than if the acts or omissions were those of Equifax. 
 
c.    Neither Equifax nor Seisint shall use the Company Information of the other Party except (i) in the case of Seisint, in connection with the performance its obligations under this Agreement and as otherwise
specifically permitted in this Agreement, and (ii) in the case of Equifax, or third party contractors/service providers engaged by Equifax, to perform services or functions in the DMS Scope or outsourcing services using the Seisint DMS Core
Technology from an Equifax Data Center and as otherwise specifically permitted in this Agreement. Seisint shall ensure that its employees comply with this Section 13 and Equifax shall ensure that its employees and third party
contractors/service providers engaged by Equifax comply with this Section 13. 
 
d.    Without limiting the generality of the foregoing, neither Party shall publicly disclose the terms of this Agreement, except to the extent permitted by this Section 13
and to enforce the terms of this Agreement, without the prior written consent of the other. Furthermore except as contemplated by this Agreement, neither Seisint nor Equifax shall make any use of the Company Information of the other Party, acquire
any right in or assert any lien against the other Party’s Company Information except as contemplated by this Agreement, or refuse to promptly return, provide a copy of or destroy such Company Information upon the request of the disclosing
Party. 
 
e.    All of
Equifax’s Company Information (including, without limitation, data, records and reports related to Equifax’s business) whether in existence at the Effective Date or compiled thereafter, is the exclusive property of Equifax and the
furnishing of such information, data, records and reports to, or access to such items by, Seisint shall not grant any express or implied license to or interest in Seisint relating to such information, data, records and reports except as required by
Seisint to perform its obligations pursuant to this Agreement. Upon request by Equifax at any time and from time to time and without regard to the default status of the Parties under the Agreement, Seisint shall promptly deliver to Equifax
Equifax’s Company Information (including without limitation all data, records and related reports related to Equifax’s business, but excluding any information provided by Equifax to Seisint pursuant to the Restated Data Purchase and Sale
Agreement) in electronic (tape) format and in such hard copy as existing on the date of the request by Equifax. 
 
f.    All of Seisint’s Company Information (including, without limitation, data, records and reports related to
Seisint’s business) whether in existence at the Effective Date or compiled thereafter, is the exclusive property of Seisint and the furnishing of such information, data, records and reports to, or access to such items by, Equifax shall not
grant any express or implied license to or interest in Equifax relating to such information, data, records and reports except as required by Equifax to perform its obligations and exercise its rights pursuant to this Agreement. 

 
14.    Term 
 
The term of this Agreement and the Restricted License granted herein shall begin on the Effective Date and shall expire on the tenth (10th) anniversary thereof unless extended pursuant to this Section 14 (the “Initial
Term”). At the option of Equifax, the Term and the Restricted License granted herein may be renewed for consecutive twelve (12) month renewal terms upon the payment by Equifax of an additional annual fee of $750,000 (each a “Renewal
Term”); provided however, if Equifax exercises such renewal option, then Seisint shall have no further duties, responsibilities, or obligations to Equifax in accordance with this Agreement, or the Restricted License of the Seisint DMS Core
Technology, other than the continued granting of the Restricted License of the Seisint DMS Core Technology on an annual basis to Equifax. The Initial Term and any Renewal Term(s) may be referred to in this Agreement collectively as the
“Term”. 
 
15.    Termination and Breach 
 
a.    Equifax may terminate this Agreement for convenience upon hundred eighty (180) days prior written notice to Seisint of its intent to terminate. If Equifax terminates this Agreement pursuant to this
Section 15(a), then Equifax will not be entitled to reimbursement of any Fees paid, but Equifax will not be required to pay any additional Fees and Equifax shall promptly return to Seisint all embodiments of the Seisint DMS Core Technology,
including the attendant documentation; provided however, that Equifax shall not be required to return to Seisint the Application Software, the Equipment or the licenses to the Commercial Software. 
 
b.    Equifax may terminate this Agreement
and/or cease to be obligated to pay any Fees or other charges hereunder, if Seisint has materially breached this Agreement and such breach is not cured by Seisint within thirty (30) days of Equifax providing written notice to Seisint of such
material breach. If Equifax terminates this Agreement and a court of law determines that Seisint has materially breached this Agreement and failed to timely cure such breach, then Equifax shall not be required to pay any additional Fees and shall
retain the license rights granted hereunder, including the Restricted License, and Equifax shall not be required to return to Seisint the Application Software, the Equipment or the Commercial Software. 
 
c.    In the event of the bankruptcy of
Seisint pursuant to the Bankruptcy Act and any attendant rejection of this Agreement or any license or assignment granted hereunder pursuant to Section 365 of the Bankruptcy Act, the Parties intend that the provisions of the Bankruptcy Act shall
apply and Equifax shall be entitled to retain possession of all Embodiments of Intellectual Property (as that term is defined in the Bankruptcy Act), including the attendant documentation, delivered to it by Seisint under this Agreement and to the
extent permitted by law, retain the license rights granted hereunder, including the Restricted License, subject to the obligations to pay fees hereunder. 
 
d.    Seisint may terminate this Agreement if Equifax has materially breached this Agreement and such breach is not
cured by Equifax within thirty (30) days of Seisint providing written notice to Equifax of such material breach; provided however, Seisint shall be entitled to terminate this Agreement on two (2) business days written notice to Equifax and
Equifax’s failure to cure if such material breach is a violation of the Restricted License or the Equifax Security Standards attendant to protection of the Seisint DMS Core Technology. If Seisint terminates this Agreement and a court of law
determines that Equifax has materially breached this Agreement and failed to timely cure such breach, then Equifax shall not be entitled to reimbursement of any fees or costs paid to Seisint prior to such termination and Equifax shall be required to
immediately return to Seisint any embodiments of the Seisint DMS Core Technology, including the attendant documentation; provided however, Equifax shall not be required to return to Seisint the Application Software, the Equipment or the Commercial
Software. Equifax shall be responsible for the acts of its employees, former employees and third party contractors/service providers engaged by Equifax that constitute a material breach of this Agreement. 
 
e.    The following sections of this
Agreement shall survive the expiration or termination of this Agreement: Section 2(c), Section 3(c), Section 4, Section 6(b), Section 7, Section 12(b), Section 13, Section 15, Section
16, Section 17, Section 18, Section 19, Section 20, Section 23 and Section 27. 

 
16.    Continued Performance and Right to Withhold Payments 
 
a.    To the extent that a dispute arises regarding the alleged breach of this Agreement or the nonperformance of a
Party’s obligations under this Agreement, the Parties agree to continue performing their respective obligations under this Agreement while the dispute is being resolved unless and until (i) such obligations are terminated or expire in
accordance with the provisions of this Agreement or (ii) a court of law enters an order excusing a Party from its obligation to perform. 
 
b.    Notwithstanding the foregoing, each Party shall be entitled to withhold payment of any amount disputed in good
faith until such dispute is resolved and such withholding shall not constitute a breach of this Agreement which would excuse the other Party from performing under this Agreement. 
 
17.    Injunctive Relief 
 
a.    Either Party shall be entitled to seek injunctive relief upon the occurrence of a
material breach of this Agreement. Equifax agrees that its material violation of the Restricted License, a threatened breach thereof, or the intentional or unintentional material release by Equifax of the intellectual property forming the Seisint
DMS Core Technology to any third party in violation of the Restricted License, or a material violation of such covenants of this Agreement related thereto, will constitute immediate and irreparable injury to Seisint and that Seisint shall be
entitled to seek the issuance of a temporary injunction to further prevent such actual or threatened breach. 
 
b.    [INTENTIONALLY OMITTED] 
 
18.    Indemnification by Seisint 
 
Seisint shall indemnify and hold harmless each Equifax Indemnitee from and against any and all Losses
incurred by any of them arising from or in connection with: 
 
a.    any Claims of infringement of any patent or any copyright, trademark, service mark, trade name, trade secret, or similar intellectual property right conferred by contract or by common law or by any law of
any country or any state to the extent resulting from or arising out of any aspect of the Seisint DMS Core Technology, the Equipment, the Commercial Software, the Application Software and/or the documentation delivered by Seisint to Equifax in
connection therewith. Further, Seisint shall have no obligation with respect to any Losses to the extent arising out of or in connection with an Equifax Indemnitee’s modification of the Seisint DMS Core Technology, the Equipment, the Commercial
Software or the Application Software, or an Equifax Indemnitee’s combination, operation or use of the services, equipment, software or other resources provided by Seisint with devices, data, programs or other resources not furnished by, through
or at the specification of Seisint; 
 
b.    any Claims, however described, regarding any Third Party Agreements. However, Seisint shall have no obligation with respect to any Losses to the extent arising out of or in connection with Claims for
copyright infringement and/or breach of software licenses committed by any Equifax Indemnitee that is not the result of Seisint’s failing to perform its obligations under this Agreement; 
 
c.    any Claims for personal injuries,
death or damage to tangible personal or real property of third parties including employees of Seisint caused by the negligence or willful misconduct of Seisint or its employees. However, Seisint shall have no obligation under this part, to the
extent the same arise out of or in connection with the negligence or willful misconduct of Equifax or third party contractors/service providers engaged by Equifax; 
 
d.    any Claims for violation of any laws or regulations applicable to Seisint’s
performance under this Agreement, except to the extent that Equifax or its employees has caused the violation of the laws or regulations from which the Claim arises; 
 
e.    any Claims arising out of or resulting from the operations of Seisint to the extent
such Claims do not arise out of a breach of this Agreement by Equifax and are not the subject of a specific indemnity provided by Equifax to Seisint in Section 19 of this Agreement. However, Seisint shall have no obligation under this item,
to the extent the 

Claims arise out of or result from the negligence or willful misconduct of Equifax; 
 
f.    any Claims for any amounts,
including, without limitation, taxes, interest and penalties thereon, assessed against Equifax which are obligations of Seisint under this Agreement; and 
 
g.    any Claims by any Affected Employees arising out of or resulting from their employment, or the termination of
their employment, with Seisint, except to the extent any such claim arises from a wrongful act of Equifax or third party contractors/service providers engaged by Equifax. 
 
In the event and to the extent that a Claim is made against an Equifax Indemnitee by an employee of Seisint,
the Parties agree that Seisint shall indemnify and hold harmless the Equifax Indemnitee to the same extent as if the Claim was made by a non-employee of Seisint. Seisint’s indemnification obligations hereunder shall be primary and immediate.
Accordingly, in addition to other provisions herein, and in order to render the Parties’ intent and this indemnification provision fully enforceable, Seisint, in an indemnification claim hereunder, expressly and without reservation waives any
defense or immunity it may have under any applicable workers’ compensation law(s) or any other statute or judicial decision disallowing or limiting such indemnification and consents to a cause of action for indemnity. This waiver and consent to
indemnification is made irrespective of and specifically waiving any defense or immunity under any statute or judicial decision. 
 
19.    Indemnification by Equifax 
 
Equifax shall indemnify and hold harmless each Seisint Indemnitee from and against any and all Losses incurred by Seisint arising from or
in connection with: 
 
a.    any Claims of infringement of any patent or any copyright, trademark, service mark, trade name, trade secret, or similar property right conferred by contract or by common law or by any law of any country or
any state to the extent resulting from or arising out of any equipment, materials and other resources provided to Seisint by Equifax in connection with the performance of this Agreement. Further, Equifax shall have no obligation with respect to any
Losses to the extent arising out of or in connection with a Seisint Indemnitee’s combination, operation or use of the equipment, software or other resources provided by Equifax with devices, data, programs or other resources not furnished by
the Equifax; 
 
b.    any
Claims for personal injuries, death or damage to tangible personal or real property of third parties including employees of Equifax caused by the negligence or willful misconduct of Equifax or its employees; provided that Equifax shall have no
obligation, under this part, to the extent the same arise out of or in connection with the negligence or willful misconduct of Seisint or its employees; 
 
c.    any Claims for violation of any laws or regulations applicable to the Equifax’s performance under this
Agreement, except to the extent that Seisint or its employees has caused the violation of the laws or regulations from which the Claim arises; 
 
d.    any Claims arising out of or resulting from the operations of Equifax to the extent such Claims do not arise out
of a breach of this Agreement by Seisint and are not the subject of a specific indemnity provided by Seisint to Equifax in Section 18 of this Agreement. However, Equifax shall have no obligation under this item, to the extent the Claims arise
out of or result from the negligence or willful misconduct of Seisint or its Affiliates or subcontractors; 
 
e.    any Claims for amounts, including, without limitation, taxes, interest and penalties assessed or claimed against
Seisint which are obligations of Equifax under this Agreement; and 
 
f.    any Claims by any Affected Employees arising out of or resulting from their employment, or the termination of their employment, with Equifax except to the extent any such Claim arises from a
wrongful act of Seisint. 
 
In the event and to the
extent that a Claim is made by an employee of Equifax against a Seisint Indemnitee, the 

Parties agree that Equifax shall indemnify and hold harmless the Seisint Indemnitee to the same extent as if the Claim was made by a
non-employee of Equifax. Equifax’s indemnification obligations hereunder shall be primary and immediate. Accordingly, in addition to other provisions herein, and in order to render the Parties’ intent and this indemnification provision
fully enforceable, Equifax, in an indemnification claim hereunder, expressly and without reservation waives any defense or immunity it may have under any applicable workers’ compensation law(s) or any other statute or judicial decision
disallowing or limiting such indemnification and consents to a cause of action for indemnity. This waiver and consent to indemnification is made irrespective of and specifically waiving any defense or immunity under any statute or judicial decision.

 
20.    Audit Rights 
 
Equifax agrees that Seisint shall have the right, directly
and through its independent auditors, upon at least one (1) business day’s prior written notice, to visit Equifax’s facilities during normal business hours. Seisint, or its designee, may inspect Equifax’s facilities and records
(including without limitation electronic records) and interview Equifax’s employees or third party contractors/service providers to determine whether Equifax’s security processes and procedures are in order, and otherwise audit, monitor
and ensure that Equifax is in compliance with the terms and conditions of the Restricted License; provided however, such audits shall be reasonable in number and scope, and shall not become an impediment to Equifax’s quiet enjoyment of the
Restricted License to use the Seisint DMS Core Technology. Except as required by law, Seisint agrees to maintain the confidentiality, in accordance with Section 13 of this Agreement, of all of Equifax’s procedures, processes and
all other information that are disclosed to it as a result of the audit. If an audit reveals a violation of the Restricted License, Seisint agrees to promptly notify Equifax in writing of any problems discovered and to allow Equifax two (2) business
days to cure the problem. Equifax shall notify Seisint in one (1) business day of its response and efforts to cure. If Equifax is unable to cure a breach of the Restricted License, or otherwise make Seisint whole relative to a breach, then such
notification shall not in any manner act as a waiver by Seisint of such rights Seisint may have pursuant to this Agreement or by law. 
 
21.    Reserved 
 
22.    Release of Certain Contractual Obligations 
 
a.    Upon the Effective Date, the Master Agreement and the DMS Transaction Document
shall be deemed terminated and the Parties shall be deemed to have fully released each other from any and all duties and obligations arising out of or related to the Master Agreement and the DMS Transaction Document. 
 
b.    Upon the Effective Date and subject
to Section 11(b) of this Agreement, all licenses of space granted by Seisint to Equifax pursuant to the Master Agreement or the DMS Transaction Document are hereby terminated. 
 
23.    Entire Agreement, Updates, Amendments and Modifications 
 
This Agreement, including the Exhibits and Schedules
referenced herein, constitutes the entire agreement and understanding of the Parties with regard to the matters addressed herein, and all prior agreements, letters, proposals, discussions and other documents regarding the matters addressed in this
Agreement are superseded and merged into this Agreement. Updates, amendments and modifications to this Agreement, including the Exhibits and Schedules referenced herein, may not be made orally, but shall only be made by a written document signed by
both Parties. Any terms and conditions varying from this Agreement on any order or written notification from either Party shall not be effective or binding on the other Party. 
 
24.    Waiver 
 
No waiver of any breach of any provision of this Agreement shall constitute a waiver of any prior, concurrent
or subsequent breach of the same or any other provisions hereof. 

 
25.    Severability 
 
If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and such provision
shall be deemed to be restated to reflect the Parties’ original intentions as nearly as possible in accordance with applicable law(s). 
 
26.    Counterparts 
 
This Agreement may be executed in counterparts. Each such counterpart shall be an original and together shall constitute but one and the
same document. 
 
27.    Governing Law

 
This Agreement and any and all claims,
actions, proceeding and disputes arising out of or in connection with or related to the relationships and arrangements between Equifax and Seisint described in this Agreement shall be governed by and construed in accordance with the laws of the
State of Georgia. The Parties hereby (a) agree that the U.S. District Court for the Northern District of Georgia, Atlanta Division, or if such court does not have subject matter jurisdiction, the appropriate State or Superior Court sitting in Fulton
County, Georgia, shall have exclusive jurisdiction over all claims, actions, and proceedings arising out of or related to or in connection with this Agreement and the subject matter of this Agreement; (b) agree to initiate any claim, action or
proceeding against the other Party only in such courts; (c) agree that they shall not raise any defense to the lawful jurisdiction of such courts; and (d) agree that they shall not attempt the removal of any claim, action or proceeding to any other
court, whether local, state or Federal courts of the United States or the courts of any other country. 
 
28.    Assignment 
 
Equifax shall not be entitled to assign, sell or transfer the rights to the Restricted License without Seisint’s express written consent which consent shall not be unreasonably withheld; provided
however, the Restricted License granted herein may be assigned by Equifax upon an occurrence of a change of control in Equifax, or a divestiture of Equifax’s DMS division, if such change of control or divestiture of Equifax’s DMS division
does not involve ChoicePoint Services, Inc. or its affiliates. 
 
29.    Notices 
 
a.    Whenever one Party is required or permitted to give notice to the other Party under this Agreement, such notice shall be in writing unless otherwise specifically provided herein and shall be deemed given
when delivered by hand, one (1) day after being given to an express courier with a reliable system for tracking delivery, or five (5) days after the day of mailing, when mailed by United States mail, registered or certified mail, return receipt
requested, postage prepaid, or when sent if delivered by facsimile, with confirmation of delivery by the sending machine. 

 
b.    Notifications shall be addressed as follows: 
 

	 In the case of Seisint:
	  	 with a copy to:

	 	  	 
	 Ken Schwartz
	  	 Paul Cameron

	 6601 Park of Commerce Blvd.
	  	 6601 Park of Commerce Blvd.                           
 

	 Boca Raton, Florida 33487
	  	 Boca Raton, Florida 33487

	 Facsimile: (561) 999-4496
	  	 Facsimile: (561) 999-4496

	
	 In the case of Equifax:
	  	 with a copy to:

	
	 Kent Mast, Esq.
	  	 Owen Flynn

	 General Counsel
	  	 Chief Technology Officer

	 1550 Peachtree Street
	  	 1525 Windward Concourse

	 Atlanta, Georgia 30309
	  	 Alpharetta, Georgia 30005

	 Facsimile: (404) 885-8988
	  	 Facsimile: (770) 740-7979

 
Either
Party hereto may from time to time change its address for notification purposes by giving the other prior written notice of the new address and the date upon which it will become effective. 
 
30.    Further Assurances 
 
Each Party agrees to execute and deliver to the other Party
those additional documents necessary to effectuate the purposes of this Agreement and each Party further agrees to take those additional actions necessary to effectuate the purposes of this Agreement. 
 
31.    Headings 
 
All headings herein are not to be considered in the
construction or interpretation of any provision of this Agreement. This Agreement was drafted with the joint participation of both Parties and shall be construed neither against nor in favor of either, but rather in accordance with the fair meaning
thereof. In the event of any apparent conflicts or inconsistencies between the provisions of this Agreement, the Exhibits or the Schedules, such provisions shall be interpreted so as to make them consistent to the extent possible, and if such is not
possible, the provisions of this Agreement shall prevail. 
 
32.    Publicity 
 
Neither Party shall make, and each shall direct its representatives not to make, directly or indirectly, any public comment, statement or communication with respect to, or otherwise disclose or permit the disclosure of this Agreement
or the transactions contemplated herein, without the prior written consent of the other Party; provided however, Seisint shall be permitted during sales presentations to reference to potential customers that Seisint has sold to Equifax a
supercomputer platform. 
 
33.    Signatures

 
The Parties agree to the terms and
conditions set forth in this Agreement (including the Exhibits and Schedules referenced in this Agreement) executed by the Parties referencing this Agreement. Each Exhibit and Schedule is incorporated into this Agreement and are herein collectively
referred to as this Agreement. 
 
[Signatures
appear on the following page] 

 
 

	 Accepted by:
  
	 	 	 	 Accepted by:

	 Equifax Inc.
	 	 	 	 Seisint, Inc.

	
	 By:
	 	 /s/    OWEN V. FLYNN

	 	 	 	 By:
	 	  
 /S/    PAUL CAMERON

	 	 	 Authorized Signature
	 	 	 	 	 	 Authorized Signature

	 	 	 Owen Flynn,
CTO                    Date: Nov. 15, 2002
	 	 	 	 	 	 Paul Cameron, President            Date: Nov. 15,
2002

	 	 	 	 	 	 	 	 	 

 

	 Table of Attachments

	 
	 Exhibit A—Definitions

	 Exhibit B—Form of Bill of Sale

	 Exhibit C—Form of Sublease

	 Exhibit D—Form of Assignment Agreement

	 Exhibit E—Form of Source Code Escrow Agreement

	 Exhibit F—Form of Cash Escrow Agreement

	
	 Schedule 1—Equipment and Commercial Software

	 Schedule 2—Seisint DMS Core Technology and Application Software

	 Schedule 3—Affected Employees

 
 
[Signature Page to DMS Agreement]Analytic Products Agreement

  EXHIBIT 10.34
 The Fair, Isaac
Companies
 Fair, Isaac Contract No. 880246   
Date of Offer: December 12,
1988
 ANALYTIC PRODUCTS AND SERVICES MASTER CONTRACT
AGREEMENT
 INTRODUCTION
 This Agreement is made and entered into as of December 19, 1988, by and between Equifax Incorporated, a Georgia corporation and
its United States subsidiaries, hereinafter referred to as “Equifax”, and Fair, Isaac and Company, Incorporated, a Delaware corporation and its wholly owned subsidiaries, hereinafter referred to as “Fair, Isaac”.
 Equifax and Fair, Isaac desire to mutually create and market various products and services. This contract specifies the nature of the overall business relationship between Equifax and Fair,
Isaac. Specific products and services are or will be defined and incorporated herein by addenda to this general Agreement. Some of these addenda may be contracted between subsidiaries of Fair, Isaac or Equifax as the case may be.
 1.        DEFINITION OF TERMS.
 Wherever they appear within, the following terms shall have the meaning here stated:
 1.1      Credit Bureau Records refers to all data on an individual that are maintained and made available by The Credit Bureau, Inc. of Georgia and Equifax Marketing Services, including, but not
limited to, trade line data, inquiry data, public records data, and demographic data as needed in connection with a specific addendum.
 1.2      Scoring refers to the act of quantifying a consumer’s risk on the basis of Credit Bureau Records.
 1.3      Scorecard refers to the table of numeric weights produced by Fair, Isaac from an analysis of a body of Equifax’s
credit bureau records which assigns various numeric values to the various levels of performance (“attributes”) which may be observed within each of several measured fields (“characteristics”). The scorecard may also include
various scaling parameters.
 1.4      Score is the result of
applying the scorecard numeric weights to the data contained in a credit bureau record. The score is used to estimate the relative likelihood that future performance will be as desired.
 
 

  1.5      Pooled Data Scorecards refer to those
developed by Fair, Isaac from an analysis of a body of credit bureau records which has been aggregated from two or more unaffiliated credit granting organizations, or from Equifax Snap-Shot files.
 1.6      Snap-Shots or Snap-Shot Data refer to data resulting from the periodic sampling of Equifax credit
bureau files using the Research Data Base System structured specifications. Each Snap-Shot will consist of current credit bureau records identified by Fair, Isaac, concatenated with one or more corresponding archived sets of credit bureau records
from earlier time periods.
 1.7      The Software Facility will
consist of the structured specifications and the set of computer software programs designed specifically to accomplish characteristic selection, translation into final score or exclusion code, selection of reason codes, verification of scoring
accuracy, and such other functionality which may be agree to in subsequent addenda; and written from the structured specifications originated by Fair, Isaac. Excluded from the Software Facility definition are all computer software programs and
specifications which are required to interact with a customer in locating consumer files for scoring, as well as all resultant billing, auditing and reporting programs; excepting those reporting and auditing programs defined by Fair, Isaac for Fair,
Isaac use and defined in separate addenda. This definition shall include, but shall not be limited by, those structured specifications and computer programs written from those specifications set forth in Appendix A.
 1.8      Date of Execution refers to the date on which this document shall have been
signed by lawful representatives of both parties.
 1.9      Date of
Commencement, also referred to as Commencement, refers to the date on which, by mutual agreement, the first use of the Software Facility is made for paid commercial purposes with respect to each product offered hereunder.
 1.10    Travel Expenses shall refer to all the costs associated with the transportation, housing
and sustenance of an individual while away from home on approved business related to the sales, development, and servicing of such products and services that result from this Agreement. Except as otherwise stated or agreed to, each of the parties
shall be solely responsible for payment of the Travel Expenses of its own employees. Where the term Host appears, it shall imply the obligation of the Host organization to arrange and pay for needed meeting room facilities and other common expenses
associated with the gathering, including any food and beverage costs that are included.
 
 

  2.        AGREEMENT STRUCTURE.
 Each product or service to be developed and offered under this Agreement, the responsibilities of Equifax and Fair, Isaac with respect thereto, the fees to be charged for the use
of such product or service by Equifax’s subscribers and the allocation of revenue between Equifax and Fair, Isaac will be set forth in detail in Addenda to this Master Agreement. The terms and provisions of this Master Agreement shall apply to
all such Addenda unless otherwise provided in an Addendum in which case the contrary provisions of the Addendum shall apply to the products or services covered by that Addendum. Addenda shall be effective only upon execution by both Equifax, or a
subsidiary or affiliate thereof, and Fair, Isaac.
 3.        TERM.
 This Agreement shall be in effect from the Date of Execution hereof and shall remain in effect as long as there is a signed addendum currently active.
 4.        SERVICE CHARGES.
 It is anticipated that both Equifax and Fair, Isaac will generate revenues as a result of this Agreement. It is the intention that such revenues, unless otherwise defined,
will be pooled and shared in proportions set forth in this Agreement and its addenda. It is likely that shared proportions will differ by product or service depending on the relative contributions of
Fair, Isaac and Equifax.
 4.1      Equifax and Fair, Isaac shall
agree on an initial schedule of end user charges for each product or service offered. These may be mutually reviewed and adjusted from time to time. For most products and services, customers will subscribe to and contract for the basic product or
service directly with Equifax. Equifax is at liberty to make individual subscriber price concessions. If any price concession has the potential to reduce Fair, Isaac’s revenue, it will be mutually agreed to by Equifax and Fair, Isaac prior to
implementation of price.
 4.2      Equifax’s share of any fees
billed by Fair, Isaac directly to subscribers for meetings or other services shall be credited to Equifax by memo to be deducted from the next usage fees settlement check to Fair, Isaac.
 4.3      Payment shall be made by Equifax once per month, whether or not all
customers have by then paid Equifax, and shall be accompanied by a copy of the billing report from which said service charges were computed. In the event that Equifax’s share of revenues paid directly to Fair, Isaac should exceed Fair,
Isaac’s share of the fees paid to Equifax in any one month then Fair, Isaac shall reimburse Equifax under the same conditions
 
 

  set forth in this paragraph.
 4.4      In the event that either party should write off as bad debt any usage fees due from a customer for which the other has already been compensated, then the party
that has received compensation shall return to the other said revenues.
 4.5      Either party may engage an independent auditor to make a reasonable examination of the other’s records in the event of a billing or revenue related dispute between the two
parties.
 5.        DATA PROVIDED.
 Data for the development of Scorecards shall consist of Snap-Shots sampled from Equifax credit bureau records, provided by Equifax to Fair, Isaac based on a Structured Specification, entitled
“Equifax/Fair, Isaac Research Data Base System” incorporated herein by Appendix A. The data to be provided by Equifax shall be provided at no cost to Fair, Isaac in a mutually agreeable form and shall be updated no less frequently than
every twelve months until this Agreement is terminated. Equifax agrees not to disclose the Equifax/Fair, Isaac Research Data Base System specifications, related computer software programs, or resultant sample data to any third party.
 Fair, Isaac shall use the data provided by Equifax to develop Scorecards, to conduct validation analyses of Pooled Data Base Scorecards, to provide performance data for use
in marketing the products and services, and for research and development to the end of improving the jointly developed products and services. Such scorecards will be developed for the sole use of Equifax in the Software Facility defined by this
Agreement.
 6.        SOFTWARE FACILITY.
 Some of the products and services covered by this Agreement will need unique Equifax software.
 For the
software modules that Fair, Isaac designs, Fair, Isaac shall create and maintain rigorous structured specifications for each module of the Software Facility to reside within the Equifax system. Equifax and Fair, Isaac will mutually agree on the
content of said specifications and modify them as needed to reach agreement. Equifax will write and install the computer software code according to these specifications.
 7.        RIGHTS IN DATA.
 All original data furnished by,
and all hard copy output generated for, either party by the other, including but not limited to studies, plans, reports, or projections 
 
 

  (except information in the public domain) shall belong exclusively to the originating party excepting as otherwise specified herein.
Materials prepared exclusively for and delivered to one of Equifax’s subscribers shall remain the property of that company.
 8.        OWNERSHIP.
 During the term or upon the termination of this Agreement,
Equifax shall own and retain the commercial rights to all computer software programs developed for use on Equifax’s computer systems, other than those which were written from the structured
specifications originated by Fair, Isaac and covered by Section 1.7 of this Agreement, including the right to resale. During the term or upon termination of this Agreement, Fair, Isaac shall own and retain the commercial rights to the Software
Facility as defined in Section 1.7, including the right to resale.
 8.1      All scorecards and associated characteristic generation logic, unless otherwise designated, shall remain the property of Fair, Isaac and the rights to the use of same are granted by
Fair, Isaac to Equifax customers by way of this Agreement only for the term of this Agreement except as provided in paragraph 7.
 8.2      Fair, Isaac shall be compensated at the rate provided for in this Agreement from revenues received by Equifax for use of the Software Facility by a third party,
regardless of the scorecard used.
 9.        MARKETING & SALES.
 Both parties shall provide what each respective organization determines to be adequate staffing and resources to facilitate the marketing and sale of products and services
covered by this Agreement. Fair, Isaac shall provide said resources under the direction of a single Marketing Director who shall aggressively pursue all mutually agreed upon marketing and publicity activities. Equifax shall name a lead marketing
individual who shall have final authority to coordinate the combined efforts. However, this provision shall in no way prohibit either party from contacting mutual customers on other sales and customer service matters.
 Equifax shall have primary responsibility for sales. Fair, Isaac will make best efforts to participate in joint sales calls, when the customer is large, and when technical
expertise is needed to close the sale. However, Fair, Isaac is not obligated to make a minimum number of sales calls, unless otherwise so stated in this Agreement.
 9.1      Marketing materials intended for prospects, customers, or staff of Equifax and Fair, Isaac shall from time to time be prepared by Fair,
Isaac and/or Equifax. Such materials and literature shall be furnished by the originating party to the other for review and modification. Equifax shall, at its expense 
 
 

  and within the constraints of its advertising/promotion budget, print all marketing material and sales literature approved by both
parties. Any media releases with regard to products or services covered by this Agreement shall be prepared jointly by Fair, Isaac and Equifax and shall not be disseminated without the approval of both parties.
 9.2      It is understood that the coupling of the names of Equifax and Fair, Isaac is
mutually advantageous in marketing products and services covered by this Agreement and each of the parties hereto agree to the reasonable use of the other party’s name in connection with such products and services. Each party proposing to use
the other party’s name in a public communication must first furnish an exact copy of the proposed communication to such other party and such other party shall make a prompt response to the
requesting party either approving or amending such communication. Any written marketing or customer service materials including, but not limited to, manuals, brochures, and instructions for general dissemination to Equifax customers shall be
identified as a Equifax product and shall remain Equifax’s property; provided, however, that any portions of such materials which were written by Fair, Isaac shall bear acknowledgement of such fact.
 10.       COMPETITIVE INTERESTS.
 Equifax and Fair, Isaac acknowledge that they may offer competing products or services in the future. Equifax and Fair, Isaac agree that each party shall remain free to pursue, unless otherwise restricted, its own interest in such cases but
shall make a good faith effort to avoid any negative product comparisons or other statements or actions that would tend to hold the other party in disrepute in order not to disrupt or jeopardize the continuation of a mutually supporting working
relationship between both parties.                    
 11.       CONFIDENTIALITY.
 Fair, Isaac agrees to maintain the
confidentiality of all data provided by Equifax during the course of this contract and to indemnify and to hold Equifax harmless from and against any claim, loss, or expense that Equifax may suffer as a result of failure on the part of Fair, Isaac
to do so. Fair, Isaac further agrees that the usage of the data shall be limited to the production of products and services for Equifax’s own proprietary use or for generic product research and development, and that in no case will any use be
made or cognizance be taken of the identity of individuals or institutions whose records am utilized. 
 Each party agrees that information and materials, trade
secrets and business affairs relating to the business of the other (except such information and material as may be in the public domain) shall be held and treated as confidential, and will be made available only to authorized employees, and will not
be divulged to any
 
 

  third party for any purpose except as mutually agreed upon. Nothing in this paragraph, however, shall prevent or prohibit either party
from providing access to such information upon request for purposes of regulation, examination or investigation by applicable state and federal regulatory agencies and authorities as may be required by law or judicial or administrative process, in
which case the other party is to be notified of said order within three business days.
 12.       LIMITATIONS ON LIABILITY.
 Fair, Isaac warrants and represents to Equifax and its customers who may sign the type of Agreements contemplated by this
Agreement that the services provided herein will accomplish the functions described in the documentation which is set forth in each Addendum. It is intended that those customers of Equifax who sign the type of Agreements contemplated by this
Agreement shall be beneficiaries of the warranties and representations made by Fair, Isaac in accordance with this Agreement. The liability of Fair, Isaac for its failure to accomplish the functions described in this document shall not exceed the
revenue received by Fair, Isaac from the complaining Equifax customer during the previous twelve (12) months. In no event shall Fair, Isaac be liable for special or consequential damages arising from-the provisions of the services hereunder, or for
the performance of any facility elements which were programmed by other than Fair, Isaac programmers.
 13.       INDEMNIFICATION.
 Equifax agrees to indemnify Fair, Isaac, and to hold Fair, Isaac,
its employees and agents harmless for all liability (including all costs and reasonable attorney fees) up to a total of $100,000 (One Hundred Thousand Dollars) resulting from claims against Fair, Isaac arising out of Equifax’s use of the
products and services under this Agreement including but not limited to any claim arising out of any alleged failure by Equifax to comply with all applicable legal requirements or from the performance or failure to perform of any software facility
produced by Equifax programmers. Fair, Isaac warrants that it owns or has rights to use all software components used to develop all elements to be delivered under this Agreement and Fair, Isaac agrees to indemnify and hold harmless Equifax and its
agents and employees from any claim, liability or expense (including all costs and reasonable attorney fees) arising from Fair, Isaac’s proven non-ownership of, or lack of rights to same. Fair, Isaac further warrants that the scorecards
delivered hereunder (a) will be statistically sound and empirically derived from a representative sample of the full Equifax file of credit bureau records, and (b) will not contain any characteristic prohibited by The Equal Credit Opportunity Act or
Regulation B thereunder. However, Fair, Isaac does not warrant that any scorecard will qualify as an “empirically derived, demonstrably and statistically sound credit scoring system” within the meaning of ECOA and Regulation B with respect
to a particular customer unless Fair, Isaac has specifically validated an Account Scoring Scorecard on that customer’s own performance data. Fair, 
 
 

  Isaac’s obligations to indemnify Equifax, as stated herein, shall not exceed a total of $100,000 (One Hundred Thousand
Dollars).
 14.       ASSIGNMENT AND CHANGE OF OWNERSHIP.
 This Agreement may not be assigned by either party without the prior written consent of the other party except to the parent corporation or a wholly-owned subsidiary of the party.
If a controlling interest in either party to this contract (or a parent or subsidiary to which the contract has been assigned in whole or in part) is acquired by a person or corporation other than as disclosed in the party’s proxy statement for
its 1988 meeting of shareholders, the other party may, at its option, terminate this Agreement. Twenty percent of the outstanding shares of any class of stocks shall be considered a “controlling interest.”
 15.       FAILURE TO PERFORM.
 Neither party shall be liable for any failure to perform its obligation under this Agreement if prevented from doing so by a cause or causes beyond its control. Without limiting the generality of the foregoing, such
causes include acts of God or the public enemy, fires, floods, storms, earthquakes, riots, strikes, blackouts, wars or war operations, restraints of government, or other causes which could not with reasonable diligence be controlled or prevented by
the party.
 16.       INDEPENDENT CONTRACTORS.
 Nothing contained in this Agreement shall be construed as creating a joint venture, partnership, principal-agent or mutual agency relationship between or among the parties hereto, and no party, shall
by virtue of this Agreement, have any right or power to create any obligation, expressed or implied, on behalf of any other party. No party, nor any employee of a party, shall be deemed to be an employee of another party by virtue of this
Agreement.
 17.       REMEDIES.
 In the execution of this Agreement both Equifax and Fair, Isaac will make a substantial initial investment prior to the Commencement Date. Hence, it is counter to either party’s interests to
have the other party terminate this Agreement prematurely. Furthermore, it is recognized that due to the novelty and technical complexity of the undertakings, it is impossible to anticipate and provide for every significant technical and business
detail. Consequently, Equifax and Fair, Isaac will make a good faith effort to pursue all possible means for the resolution of disputes or failures to perform before resorting to termination.
 17.1     Review Committee. In the event that there is any dispute between
Equifax and Fair, Isaac with respect to this Agreement which is not resolved in the ordinary course of discussion between the Project 
  
 
 

  Managers or Marketing Managers, as the case may be, the parties agree that such matters shall be submitted to the appropriate review
committee. Two review committees shall be established. One such review committee (the “technical review committee”) shall deal with disputes involving the software, scoring algorithms, and other matters relating to the development and
maintenance of the Software Facility. The other review committee (the “business review committee”) shall deal with disputes involving financial, marketing, or other general business matters. Realizing that each product offering will be
unique, representatives for each of these tyro committees shall be named in the respective addendum. Either party may change its designated representatives at any time by furnishing written notice to the other party in the manner provided for in
this Agreement. If a party is notified that a review committee decision is requested by the other party, the members of the appropriate review committee shall meet within seven (7) days, either in person or by telephone, to study the available facts
and render a written decision to be signed by both committee members and which shall include a justification for such decision. If the review committee does not reach a unanimous decision, then the issue will automatically be appealed to the Policy
Committee provided for below. In the event of disagreement as to which review committee has jurisdiction over a dispute, the party filing the request shall prevail.
 17.2     Policy committee. The Policy Committee shall consist of two senior officers of each party. The Policy Committee
shall consist initially of John O. Woldrich and O. Davis Nelson, for Fair, Isaac and Joe Dawson and, Mike Cahoon for Equifax. Either party may change its designated representatives at any time upon written notice to the other party in the manner
provided for in this Agreement. The Policy Committee shall meet either in person or by telephone within seven (7) days after written notice from either party that a stalemate has occurred in a review committee. Policy Committee meetings shall
consist of discussions with all four members present. In the event that one of the members is unavailable, then such party shall send a substitute representative of equal or higher rank. If the Policy Committee members shall not agree otherwise,
such meeting shall be held at a neutral site in Denver, Colorado. If the Policy Committee does not reach a majority decision, the dispute shall be referred to arbitration as set forth below.
 17.3     Arbitration. In the event that there is any dispute between Equifax
and Fair, Isaac with respect to this Agreement which is not resolved in the dispute resolution manner provided for in this Section 17, the parties agree that such matters shall be submitted to a panel of three arbitrators. Within seven (7) days
after written notice from 
  
 
 

  either party of a failure of the Policy Committee to resolve a dispute, Equifax and Fair, Isaac each shall select one arbitrator and
notify each other of their selection. Within fifteen (15) days after their selection, such two arbitrators shall select the third arbitrator. The arbitrators shall meet within thirty (30) days after the selection of the third arbitrator and conduct
a hearing in accordance with the rules of the American Arbitration Association to resolve the dispute. A majority of the arbitrators shall determine the decision/award which shall be rendered within five (5) days after the completion of the hearing.
The decision of the panel shall be final and not subject to appeal to a court of law or equity. Each party shall bear its own legal costs unless the arbitration committee shall provide otherwise. All meetings referred to in this subsection 17.3
shall take place in Denver, Colorado, or some other neutral location geographically convenient for both parties. No arbitration arising out of or relating to this Agreement shall include, by consolidation, joinder or in any other manner, any
additional person not a party to this Agreement except by written consent of both parties to this Agreement. Any consent to arbitration involving an additional person or persons shall not constitute consent to arbitration of any dispute not
described there in or with any person not named or described therein.
 18.       GENERAL.
 18.1    This Agreement shall be construed in accordance
with the laws of the State of the defendant party in any action, Georgia if Equifax and California if Fair, Isaac.
 18.2     It is expressly agreed that this Agreement embodies the entire understanding of the parties in relation to its subject matter, and that no other agreement or understanding, oral or otherwise,
relative to its subject matter exists between the parties at the time of execution of this Agreement.
 18.3    Each Addendum attached hereto is by this reference made a part of this Agreement and the terms of these Addenda shall be fully binding on the parties.
 18.4    If any court of competent jurisdiction finds any part or provision of this Agreement to be invalid or
unenforceable, such finding shall have no effect on any other part or provision of this Agreement.
 18.5    Either party may choose not to enforce its rights under some part or provision of this Agreement at a particular time. Such choice shall have no effect on their right to enforce that same part or
provision at another time,
 
 

  or to enforce any other part or provision at any time.
 18.6    The section titles in the Agreement are for convenience only and shall have no effect on the interpretation of any part or provision regardless of the
title heading under which the part of provision is located. Some words in this Agreement may be used as singular or as plural depending upon the context in which the word is used each time.

19.       SURVIVAL OF RIGHTS AND OBLIGATIONS.
 The rights and obligations of the parties under paragraphs 7, 8, 10, 11, 13, and 17 of this Agreement shall survive any termination hereof.
 20.       ACCEPTANCE.
   

	  
 	 Contract No. 870246
 
 Accepted for Equifax Inc.
 	  
 	  
 	 For Fair, Isaac and Company, Incorporated
 
	  
 	 
 /s/ MICHAEL W. CAHOON
 	  
 	 By: 
 	 
 /s/ JOHN D. WOLDRICH
 
	  
 	 
 	  
 	  
 	 
 
	  
 	 (Signature)
 	  
 	  
 	 (Signature)
 
	 Name: 
 	 Michael W. Cahoon
 	  
 	  
 	 John D. Woldrich
 
	 Title: 
 	 Vice President
 	  
 	  
 	 Executive Vice President
 
	 Date:
 	 December 15, 1988
 	  
 	  
 	 Date: December 12, 1988

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