Document:

Exhibit 10.20

 

RESEARCH AND DEVELOPMENT COLLABORATION AGREEMENT

 

This Research and Development Collaboration
Agreement (the “Agreement”) dated as of 14 December 2021, is made by and between:

 

		(1)	TeleSign Corporation, a corporation organised and existing under the laws of California (USA),
having its registered office at 13274 Fiji Way, Suite 600, Marina del Rey, CA 90292 registered with State of California under number C2716106
(“TeleSign”); and

 

		(2)	Proximus SA de droit public/NV van publiek recht, a limited liability company (société
anonyme/naamloze vennootschap) organised and existing under the laws of Belgium, having its registered office at Koning Albert II-laan
27, 1030 Brussels, Belgium, registered with the Register of Legal Entities (Brussels) under number 0202.239.951 (“Proximus”).

 

In the presence of, for acknowledgment
purposes:

 

		(3)	SFPI SA d’intérêt public/FPIM NV van openbaar nut, a limited liability company
of public interest organised and existing under the laws of Belgium, having its registered office at, registered with the Register of
Legal Entities (Brussels) under number 0253.445.063 (“SFPI/FPIM”).

 

TeleSign and Proximus are hereafter
referred to as the “Parties” and each a “Party”.

 

WHEREAS:

 

		(A)	On or around the date of this Agreement, a Business Combination Agreement (as amended and/or restated
from time to time), will be entered into by and among BICS SA, a Belgian limited liability company, Torino Holding Corp., a Delaware corporation,
North Atlantic Acquisition Corporation, a Cayman Islands exempted company(“NAAC”) and certain other parties affiliated
with NAAC (the “BCA”).

 

		(B)	Proximus and its affiliates play a leading role in the connectivity and digital solutions of many citizens
and companies in Belgium and around the globe. Proximus has accumulated an expertise in artificial intelligence (“AI”)
and cybersecurity; an expertise it wishes to further develop as a Belgium innovation hub supporting its internal needs as well as the
needs of its affiliates.

 

		(C)	By connecting communities and investing in digitization, the Proximus Group creates opportunities and
helps transforming ideas into innovation, a role Proximus wishes to expand beyond its own group, in support of other areas of Belgian
society. Hereto, Proximus intends to set the Proximus Innovation Hub (as defined below).

 

		(D)	TeleSign is active in authentication and mobile identity with a particular focus on fraud prevention and
securing digital transactions, with a growing international ambition outside of the US. TeleSign has a growing R&D activity which
today is essentially located in the US and Serbia. Going forward and supportive of its innovative roadmap and its international expansion
outside of the US, TeleSign plans to focus some
of its expansion plan in Belgium with a focus on R&D activity.

 

     

     

    

 

		(E)	In the framework of the BCA, the Parties have agreed that TeleSign will source some of its research and
development with Proximus leveraging the latter’s center of excellence in AI and cybersecurity.

 

Now, therefore, in consideration of the
foregoing and of the mutual covenants and agreements contained herein, the receipt and sufficiency of which is hereby acknowledged, and
subject to the Condition Precedent, the Parties agree as follows:

 

		1	Definitions and Interpretation

 

		1.1.1	As used herein, the following terms shall have the respective meanings set forth below:

 

“Affiliated Company”
means an affiliated company (“verbonden vennootschap”) as defined in Article 1:20 of the Belgian Companies and Associations
Code;

 

“Agreement” means
this Research and Development Collaboration Agreement;

 

“AI” has the meaning
given to it in Recital (B);

 

“BCA” has the meaning
given to it in Recital (A);

 

“Condition Precedent”
has the meaning given to it in Clause 3;

 

“Proximus Group” means
Proximus and its Affiliated Companies; and

 

“Proximus Innovation Hub”
has the meaning given to it in Clause 2.1.2.

 

		1.1.2	The descriptive headings contained in this Agreement are included for convenience of reference only and
shall not affect in any way the meaning or interpretation of this Agreement. Wherever this Agreement uses “it”, “its”
or derivations thereof to refer to a natural person, such references shall be deemed references to “her”, “him”
or “his”, as applicable.

 

		2	Proximus and TeleSign R&D collaboration in Belgium

 

		2.1	Proximus Innovation Hub

 

		2.1.1	Proximus currently has an AI center of excellence that serves the internal AI needs of its business units,
with application areas ranging from customer value management, network monitoring and design, and energy management to process efficiency.
Proximus has furthermore developed a strong cybersecurity capability to protect its critical infrastructure and the data of its customers,
while complying with an increasingly stringent legal framework.

 

		2.1.2	Proximus is in the process of creating a new high-tech legal entity, fully owned and controlled by Proximus,
combining AI and cybersecurity expertise (hereafter the ”Proximus Innovation Hub”). The Proximus Innovation Hub will
cluster an existing pool of *** highly qualified full time equivalent experts employed by Proximus. Proximus has the intention to expand this population
to a Belgian employed population of *** full time equivalent high tech professionals over a 3 years’ period.

 

    	TeleSign Corporation – Confidential	Page 2

     

    

 

		2.1.3	The future ambition of the Proximus Innovation Hub is threefold:

 

		(i)	Leverage existing AI and cybersecurity talents and expertise within the broader Proximus Group, enabling
state-of-the art digital and international companies such as TeleSign to further enhance its products and services, launch and develop
new use cases and fuel their growth both in Belgium and internationally.

 

		(ii)	By establishing an independent legal entity, (i) be recognized as a reference center of excellence in
Europe in the AI and cybersecurity domains, (ii) build strong collaborations and partnerships with universities and research institutes
and (iii) attract, train and retain highly skilled local talent.

 

By continuously focusing on capability
building of both people and technology and a cross-pollination between the Proximus Group, its ecosystem and other collaborators, the
Proximus Innovation Hub will be able to attract the best talent to work on the most exciting challenges of today’s rapidly digitizing
world.

 

Within this context, the Proximus
Innovation Hub will promote technology education and establish collaboration with universities and secondary schools through lectures,
hackathons, internships, etc. It will also drive collaboration and exchange of expertise in the AI and cybersecurity domains, for instance
by steering the Cyber Security Coalition and leading international cooperation through ETIS (European platform of Telcos).

 

		(iii)	Use and make available its digital, AI and cybersecurity competencies to do good for Belgian society.
Proximus and TeleSign see plenty of opportunities to leverage their expertise to enhance digital penetration within society, use data
analytics in service of humanity, better safeguard people’s privacy and prevent fraud and malicious activity in several fields of
application.

 

		2.2	Societal impact through a culture of co-creation.

 

		2.2.1	Through the Proximus Innovation Hub, Proximus wishes to create a center of excellence, aiming to:

 

		(i)	play a leading role in the field of AI and cybersecurity;

 

		(ii)	help create innovative solutions and positively contributing to develop the Belgian ecosystem, incl. research
institutes and universities; and

 

		(iii)	do good for society, by positively contributing to initiatives of digital inclusion and digital society,

 

by making available its digital, AI
and cybersecurity capabilities with a dedicated team of *** of its total team employed, solely on sustainable initiatives benefitting
the Belgian society.

 

    	TeleSign Corporation – Confidential	Page 3

     

    

 

		2.2.2	The Proximus Innovation Hub will operate as a new legal entity operating in a high-tech start-up environment,
with values of co-creation, inclusion, collaboration, empowerment, and transparency. It will introduce attractive and competitive human
resource practices focused on the AI/cybersecurity community.

 

		2.2.3	Physical location of the employees of the Proximus Innovation Hub will at the l be the Proximus’
headquarter premises in Brussels *** fit to host the growing Proximus Innovation Hub’s population over time.

 

		2.3	TeleSign collaboration with Proximus Innovation Hub in Belgium to support its growth plans

 

		2.3.1	Aligning with its future growth plans consistent with its international expansion outside of the US, TeleSign
intents, based on its current business plan, to spend €25M – €30M over the next 5 years as investment in Belgium with
a focus on R&D activity ***.

 

		2.3.2	TeleSign’s investment in Belgium will progressively increase by gradually shifting part of its R&D
activity to Belgium, through (i) growing its Belgian located headcount and (ii) collaborating closely with the *** for the further development
of its roadmap.

 

The following growth
of FTE is expected as Belgium-based headcount supporting TeleSign:

 

	 	Year	2022	2023	2024	2025	2026	 
	 	# FTEs	***	***	***	***	***	 

 

		2.4	Collaboration with national authorities in the fight against fraud & Cyber criminality and ***.

 

The Proximus Innovation Hub, leveraging
its expertise, and TeleSign, building on its score and authentication capabilities, express the intention to reinforce collaboration with
the Belgian national authorities where useful, including with the Centre for Cyber Security Belgium to:

 

		2.4.1	help fight against fraud and cyber criminality, and

 

		2.4.2	to support *** in enhancing its digital authentication solution by building an advanced identity scoring
mechanism leveraging AI to secure not only onboarding but also the account lifecycle and Itsme secured transactions, providing advanced
early detection support.

 

		3	Condition Precedent

 

		3.1.1	The obligations of the Parties under this Agreement are subject to closing of the transactions between
BICS SA, Torino Holding Corp., NAAC and certain other parties affiliated with NAAC pursuant to and as defined in the BCA (the “Condition
Precedent”).

 

		3.1.2	The Condition Precedent is for the benefit of Proximus only and may be waived by Proximus at its sole
discretion by giving written notice to TeleSign (a copy of which will also be sent to SFPI/FPIM for information purposes).

 

    	TeleSign Corporation – Confidential	Page 4

     

    

 

		3.1.3	Notwithstanding Article 1179 of the old Belgian Civil Code (Burgerlijk Wetboek/Code Civil), the
satisfaction of the Condition Precedent shall have no retroactive effect.

 

		4	Miscellaneous

 

		4.1	Entire Agreement

 

This Agreement constitutes the entire
agreement among the Parties with respect to the subject matter hereof and supersede all prior agreements and undertakings, both written
and oral, among the Parties, or any of them, with respect to the subject matter hereof.

 

		4.2	Assignment and Amendments

 

		4.2.1	This Agreement shall not be assigned (whether pursuant to a sale, a contribution, a donation or any other
transaction, including the sale or contribution of a division (“bedrijfstak”) or of a business as a whole (“algemeenheid”),
a merger or a split, by operation of law or otherwise) by any Party without the prior express written consent of the other parties hereto.

 

		4.2.2	This Agreement may be amended in writing by all Parties hereto by an instrument in writing signed by each
of the Parties hereto, a copy of which will be sent to SFPI/FPIM for information purposes.

 

		4.3	Further Assurances

 

Each of the Parties agrees to execute
and deliver hereafter any further document, agreement or instrument of assignment, transfer or conveyance as may be necessary or desirable
to effectuate the purposes hereof and as may be reasonably requested in writing by the other Party.

 

		4.4	Parties in Interest

 

This Agreement shall be binding upon
and inure solely to the benefit of each Party, and nothing in this Agreement, express or implied, is intended to or shall confer upon
any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

		4.5	Counterparts

 

		4.5.1	This Agreement may be executed and delivered (including by facsimile or portable document format (pdf)
transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall
be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

		4.5.2	Advanced electronic signatures which comply with the requirements of European Union Regulation (EU) No
910/2014 shall constitute original signatures and shall have the same probative value as handwritten signatures between the parties.

 

		4.6	Severability

 

		4.6.1	If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being
enforced by any rule of law, or public policy, then such provision or part of it shall be deemed not to form part of
this Agreement, and all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect.

 

    	TeleSign Corporation – Confidential	Page 5

     

    

 

		4.6.2	Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible
in a mutually acceptable manner in order that the obligations of the parties be consummated as originally contemplated to the fullest
extent possible.

 

		4.6.3	If the invalid, illegal or unenforceable provision affects the entire nature of this Agreement and if
the Parties are unable to reach an agreement on such replacement provision within thirty (30) days following the start of the negotiations,
then any Party shall have the right to terminate the Agreement by giving fifteen (15) days’ advance notice to the other Party.

 

		4.7	Governing Law and Jurisdiction

 

		4.7.1	This Agreement shall be governed by, and construed in accordance with, the laws of Belgium (without application
of the conflict of law rules thereunder).

 

		4.7.2	The courts of Brussels shall have exclusive jurisdiction to settle any dispute arising out of or in connection
with this Agreement (including a dispute relating to non-contractual obligations arising out of or in connection with this Agreement).

 

		4.7.3	Each Party irrevocably waives any objection to the jurisdiction of any court in which proceedings are,
whether on grounds of inconvenient forum or otherwise, as regards proceedings arising out of or in connection with this Agreement, and
further irrevocably agrees that a judgement or order of any such court shall be conclusive and binding on it and may be enforced against
it in the courts of any other jurisdiction.

 

		4.8	Notices

 

All notices, requests, claims, demands
and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by
delivery in person, by email or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties
at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section
4.8):

 

		4.8.1	if to TeleSign:

 

TeleSign Corporation

*** 

Attention: ***

Email: ***

 

		4.8.2	if to Proximus:

 

Proximus SA/NV

*** 

Attention: ***

Email: ***

 

Attention: ***

Email: ***

 

		4.8.3	if to SFPI/FPIM :

 

SFPI SA 

*** 

Attention: ***

Email: ***

 

    	TeleSign Corporation – Confidential	Page 6

     

    

 

		4.9	No Partnership, Agency or Joint Venture

 

		4.9.1	This Agreement is intended to create a contractual relationship between the Parties and nothing contained
herein is intended to create, and does not create, any agency, partnership, joint venture or any like relationship between or among any
of the Parties.

 

		4.9.2	Without in any way limiting the rights or obligations of any Party under this Agreement:

 

		(i)	no Party is by virtue of this Agreement authorized as an agent, employee or legal representative of any
other Party;

 

		(ii)	no Party shall have the power by virtue of this Agreement to control the activities and operations of
any other; and

 

		(iii)	no Party shall have any power or authority by virtue of this Agreement to bind or commit any other Party,

 

[Signature Page Follows]

 

    	TeleSign Corporation – Confidential	Page 7

     

    

 

IN WITNESS WHEREOF, the Parties and SFPI/FPIM
have executed this Agreement on the date first written above in three (3) originals, each of Proximus, TeleSign and SFPI/FPIM confirming
it has received its own original.

 

	TELESIGN CORPORATION	 
	 	 	 
	By:	***	 
	Name:	***	 
	Title:	***	 

 

	PROXIMUS NV/SA	 
	 	 	 
	By:	***	 
	Name:	***	 
	Title:	***	 

 

	For acknowledgement:	 
	 	 
	FPIM/SFPI NV/SA	 
	 	 	 
	By:	***	 
	Name:	***	 
	Title:	***	 

 

	By:	***	 
	Name:	***	 
	Title:	***	 

 

    	TeleSign Corporation – Confidential	Page 8Exhibit 10.21

 

Reseller Master Services Agreement

 

This RESELLER MASTER SERVICES AGREEMENT
(this “Agreement”) is made and entered into as of the Effective Date by and between TeleSign and Channel Partner (each
as defined below).

 

	“TeleSign”	TeleSign
    Corporation, a California corporation
	having
    its principal place of business at	13274
    Fiji Way Suite 600, Marina del Rey, CA  90292
	with
    notices to be delivered to:	Same
    as above, marked for the attention of the Legal Department 
	 	E-mail:
    legal@telesign.com
	“Channel
    Partner”	Belgacom
    International Carrier Services sa/nv (Company Registration No. 0866.977.981)
	having
    its principal place of business at	boulevard
    du Roi Albert II, 27, 1030 Brussels, Belgium
	with
    notices to be delivered to:	Same
    as above:
	 	E-mail:
    ***
	Invoices
    to be submitted to:	Name:

     

    Email: ***

	“Effective
    Date”	On
    the closing date of the Project Token transaction, such date to be confirmed by TeleSign to BICS in writing.
	“Channel
    Partner Order”	The
    ordering document, and any replacements or amendments thereof, for Channel Partner’s purchase(s) of Services, as defined in
    a Channel Partner Order.  The initial Channel Partner Order is attached hereto as Exhibit A and made a part of this Agreement
    by this reference.

 

		1.	DEFINITIONS.

 

Unless the context requires otherwise, the following
terms shall have the meaning set out in this section 1 when used in this Agreement or any Channel Partner Order:

 

“Acceptable Use Policy”
or “AUP” means the Channel Partner’s and Users’ obligations regarding use of the Services and Licensed Data
as set out in https://www.telesign.com/acceptable-use-policy, as may be updated by TeleSign from time to time at its discretion.
Any references to Client or Client Data in the Acceptable Use Policy shall be deemed to be references to the Channel Partner and Channel
Partner Data respectively.

 

“Additional Feature”
means any product feature which is not defined within the description of the Services, but which is introduced or made available
to Channel Partner by TeleSign (including but not limited to the *** features), regardless of whether TeleSign charges for such feature.

 

“Affiliate” means
a company, person or entity that is owned or controlled by, that owns or controls or is under common ownership or control with a Party.
Ownership shall mean direct or indirect ownership of more than 50% of the shares in a company or entity, and control shall mean any power
to appoint persons to the board of directors of a company or entity.

 

“API” means ***.

 

“Applicable Law” means any statute,
statutory instrument, regulation, order and other legislative provision, including any delegated or subordinate legislation, and any
judgment of a relevant court of law or decision of a tribunal or competent authority, to the extent any of the foregoing applies to a
Party’s performance of obligations under this Agreement in the relevant jurisdiction.

 

“Channel Partner Data”
means any information transmitted by or on behalf of Channel Partner, a Channel Partner Affiliate, or a Customer during the execution
of an electronic request to the Services.

 

“Channel Partner Portal”
means a web portal maintained by TeleSign for all TeleSign’s customers where they can securely login using their credentials
to access information regarding their TeleSign account such as their billing and recent account activity.

 

“Content” means
personalized or specialized content or other information.

 

    	TeleSign Corporation – Confidential	Page 1 of 8

     

    

 

“Customer” means
a customer or client of Channel Partner that uses Channel Partner’s services, of which the Services and/or Licensed Data form part.

 

”DPA” means the
Data Processing Agreement executed by the Parties on ***, and the SCCs entered into on ***.

 

“Fees” means the
fees and charges payable to TeleSign pursuant to this Agreement, as defined in the Agreement or each Channel Partner Order.

 

“Inappropriate Content”
means any content which (a) is unsolicited, including without limitation, unauthorized “bulk” or “spam” messages;
(b) contains or introduces “viruses”, “worms”, “Trojan Horses”, “e-mail bombs”, “cancel
bots” or other similar computer programming routines; (c) is in any way unlawful; (d) infringes the intellectual property or privacy
or other rights of any person, including without limitation the Intellectual Property Rights of TeleSign; or (e) executes, initiates
or causes ”phishing” or social engineering activities.

 

“Initial Term”
means ***.

 

“Intellectual Property Rights”
means all trade secrets, patents and patent applications, trademarks, services marks, trade names, internet domain names, copyrights
(including copyrights in computer software), moral rights, rights in knowhow and any renewals or extensions of the foregoing, and all
other proprietary rights, and all other equivalent or similar rights which may subsist anywhere in the world, including any renewals
or extensions thereof.

 

“Licensed Data”
means the results returned to Channel Partner by or on behalf of TeleSign in response to the Channel Partner submitting Channel Partner
Data as part of the Services.

 

“Party” means TeleSign
or Channel Partner, as the case may be.

 

“Personal Information”
means any information about an identified individual, or an individual whose identity may be inferred or determined from the information.

 

“Proprietary Marks”
has the meaning given in section 2.4.

 

“Renewal Term” means
any renewal term of any Channel Partner Order, as defined in that Channel Partner Order.

 

“SDK” means ***.

 

“Services” means
the service specified in the Channel Partner Order. Any references to Client in the Services description shall be deemed to be references
to the Channel Partner respectively.

 

“SLA” means ***.
Any references to Client or Client Data in the SLA shall be deemed to be references to the Channel Partner and Channel Partner Data respectively.
If the Order contains SLA terms agreed between the Parties, such SLA shall prevail on the one referred to above.

 

“SMS Content” means
Channel Partner Content to be sent via SMS Services.

 

“Term” means the
term of this Agreement or of any Channel Partner Order as the case may be, as defined in section 2.1 of the Agreement and in any Channel
Partner Order.

 

“Territory” means
the territory in which Channel Partner is entitled to resell the Services, as set out in a Channel Partner Order.

 

“Transaction” means
***.

 

“User” means any
customer, client or other user of Channel Partner’s services in respect of whom Channel Partner Data is submitted (including any
Customer and any customer, client or other user of any services of a Customer).

 

		2.	SCOPE
                                            OF SERVICES & AGREEMENT

 

		2.1	Scope
                                            of the Agreement. This Agreement, and more specifically its Exhibits 1 to 3, have been
                                            negotiated between TeleSign and Channel Partner in:

 

-      
***,

 

-      
***.

 

		2.2	Term.
                                            Subject to the terms in Exhibit B, this Agreement will enter into force on *** (the “Term”).
                                            The Term of any Channel Partner Order shall be defined in such Channel Partner Order, and
                                            notwithstanding any other provision herein, this Agreement shall continue for the duration
                                            of any Channel Partner Order until such Channel Partner Order is terminated in accordance
                                            with the terms of this Agreement.

 

		2.3	Services.
                                            Subject to the terms and conditions of this Agreement, in particular Exhibit B, and effective
                                            upon the Effective Date as set out in each Channel Partner Order, TeleSign shall make the
                                            Services available to the Channel Partner as set forth on such Channel Partner Order(s),
                                            during the Term of each such Channel Partner Order. Such Services will be provided via ***
                                            or via such other methods as agreed upon by the Parties. 

 

		2.4	Service
                                            Levels. The Services will materially comply with the Service definition set out in this
                                            Agreement and any associated documentation, and TeleSign shall provide the Services in compliance
                                            with the SLA, provided that the Services may be affected in the following circumstances:
                                            

 

		(a)	TeleSign
                                            may temporarily suspend or discontinue the Services, with advance notice if practicable,
                                            at any time if TeleSign has reasonable cause to suspect that the Services are being used
                                            to transmit Inappropriate Content or to commit fraud, or if TeleSign reasonably believes
                                            such action is necessary to avoid an imminent material threat of harm to TeleSign, its Affiliates,
                                            clients, Users, or any third party.
	 	 	 
		(b)	TeleSign
                                            may, upon *** business days’ prior written notice, suspend provision of the Services
                                            if (i) any undisputed Fees are due and unpaid; or (ii) upon *** days’ if Channel Partner
                                            or any Users fail to comply with the Acceptable Use Policy.
	 	 	 
		(c)	TeleSign
                                            may immediately and without notice suspend the Services in whole or in part if TeleSign reasonably
                                            suspects the Channel Partner’s account is being used in breach of the SPAM Policy as
                                            set out in the Acceptable Use Policy.

 

    	TeleSign Corporation – Confidential	Page 2 of 8

     

    

 

		2.5	Intellectual
                                            Property Rights. Except as specifically set forth herein, TeleSign retains all right,
                                            title, and interest, including all Intellectual Property Rights, relating to or embodied
                                            in the Services, including without limitation all technology, hardware, software, systems
                                            and copies of the foregoing relating to the Services, including without limitation any upgrades,
                                            updates, or modifications thereof or otherwise. Such Intellectual Property Rights are licensed,
                                            not sold, solely for use by Channel Partner under the terms of this Agreement. All graphics,
                                            logos, service marks, and trade names, including third party names, product names, and brand
                                            names relating to products or services of each Party (collectively and respectively, each
                                            Party’s “Proprietary Marks”) are the trademarks of such Party. Except as
                                            set out in this Agreement, neither Party may alter, add to or remove from the other Party’s
                                            products or services, any of the other Party’s Proprietary Marks, copyright notices
                                            or other proprietary rights markings, or use any of the other Party’s Proprietary Marks
                                            without the prior written permission of the other Party, which shall be at the exclusive
                                            discretion of the other Party.

 

		2.6	Fees
                                            and Payment Terms. All payments by Channel Partner hereunder shall be made only in United
                                            States Dollars. TeleSign reserves the right to change the Fees and/or formulae by which the
                                            Fees are calculated by notifying Channel Partner at least *** days in advance of any such
                                            change(s) or as mutually agreed between the Parties. 

 

		2.7	Invoice
                                            Terms. TeleSign shall issue invoices on a monthly basis, promptly following the end of
                                            each month for the total amount of Fees due for Services during that month. The invoice is
                                            due and payable *** calendar days from invoice date. If Channel Partner has a reasonable
                                            basis to dispute any invoice, it may do so by notifying TeleSign of the dispute prior to
                                            the invoice due date. If Channel Partner disputes any invoice, the parties will reasonably
                                            negotiate to resolve the dispute. Channel Partner shall be deemed to be in default hereunder
                                            if payment of any undisputed Fees are not received by TeleSign within *** days of the invoice
                                            date. 

 

		2.8	Taxes.
                                            All Fees paid by Channel Partner under this Agreement are exclusive of any taxes levied by
                                            any duly constituted taxing authority, including but not limited to withholding taxes, any
                                            sales, gross receipts, value-added taxes, tax surcharges, direct or indirect government assessment
                                            fees (other than taxes on TeleSign’s income) and shall be made free and clear of any
                                            deduction such as commissions, clearing charges and payment charges imposed by intermediate
                                            banks (collectively “Taxes and Costs”). All such Taxes and Costs shall be borne
                                            by Channel Partner. For the avoidance of doubt, in the event any government or other authority
                                            or intermediary imposes any deduction or fee on TeleSign’s Fees, Channel Partner shall
                                            increase the amount of Fees payable to TeleSign in a manner such that TeleSign receives the
                                            full amount of Fees due as stated on the respective invoice. 

 

		2.9	Additional
                                            Features:

 

		(a)	For
                                            the avoidance of doubt, any Additional Feature used by the Channel Partner is deemed to form
                                            part of the Services. Any insights or other information provided to Channel Partner by TeleSign
                                            as part of an Additional Feature shall be considered to be Licensed Data, as defined in this
                                            Agreement.
	 	 	 
		(b)	Channel
                                            Partner’s use of any Additional Feature and such Licensed Data is subject to all terms
                                            and conditions set out in this Agreement, including the Acceptable Use Policy.
	 	 	 
		(c)	Except
                                            to the extent expressly stated herein, TeleSign provides no warranty or commitment in relation
                                            to any Additional Feature, including but not limited to the accuracy, timeliness or quality
                                            of any Licensed Data provided as part of such feature.
	 	 	 
		(d)	TeleSign
                                            reserves the right at any time to immediately suspend or cease providing any Additional Feature
                                            without notice.

 

		3.	USE
                                            OF SERVICES & DATA

 

		3.1	Acceptable
                                            Use Policy. Channel Partner shall, and shall ensure that its employees, Agents, contractors,
                                            Affiliates and any Users, abide at all times with TeleSign’s Acceptable Use Policy.
                                            Channel Partner is solely responsible for payment of all charges and fees for requests submitted
                                            from Channel Partner’s TeleSign account used to access the Services, and any damages
                                            or other consequences that may result from any misuse of, or Inappropriate Content transmitted
                                            from, Channel Partner’s TeleSign account. 

 

		3.2	SMS
                                            Content. Some destination countries of the SMS Services have compliance restrictions,
                                            policies or applicable country SMS regulations related to the type of Content sent via a
                                            route or provider and while some countries require content whitelisting. As such, notwithstanding
                                            anything to the contrary in the Agreement, all proposed SMS Content must first be approved
                                            by TeleSign to ensure delivery in that country. Channel Partner agrees to provide the SMS
                                            Content necessary for review by TeleSign. In some cases, TeleSign may need to seek additional
                                            approvals from the respective provider/operator and/or regulatory authorities. Channel Partner
                                            will promptly provide and complete all necessary documentation for submission to such provider/operator.
                                            Only TeleSign approved SMS Content shall be allowed to be sent as part of SMS Services. Any
                                            proposed changes by Channel Partner to its previously approved user interface and SMS Content
                                            must be resubmitted for approval to TeleSign and if appropriate, from the respective provider/operator
                                            and/or regulatory authorities. In the event such proposed SMS Content shall incur any or
                                            additional costs not previously covered by the Fees, including but not limited to fees or
                                            charges charged by the provider/operator and/or regulatory authorities, Channel Partner shall
                                            agree to bear the same or reimburse TeleSign accordingly.

 

		3.3	Phone
                                            Numbers.  If it is required for the destination country of the Services or
                                            upon request by Channel Partner, TeleSign shall ***. Except as otherwise set out in this
                                            Agreement or a Channel Partner Order, Channel Partner may, at any time during a billing cycle
                                            (monthly, every 3 months or annually (as applicable)), provide TeleSign with prior written
                                            notice to terminate the use of the ***. Nevertheless, Channel Partner shall continue to be
                                            responsible for *** during that billing cycle. 

 

		3.4	Affiliates.
                                            Channel Partner’s Affiliates shall be entitled to use the Services, subject at all
                                            times to all terms and conditions set out in this Agreement, including all obligations, warranties,
                                            undertakings and indemnities of the Channel Partner. Such use by Channel Partner’s
                                            Affiliates shall be subject to the following terms and conditions:

 

    	TeleSign Corporation – Confidential	Page 3 of 8

     

    

 

		(a)	TeleSign’s
                                            contractual relationship remains with Channel Partner, and TeleSign shall have no legal or
                                            other responsibility towards any Channel Partner Affiliate.
	 	 	 
		(b)	Channel
                                            Partner shall be fully liable and responsible for all acts and omissions of all Affiliates,
                                            including making payment for use of Services and all obligations, warranties, undertakings
                                            and indemnities of the Channel Partner that relate to Affiliate use of the Services as set
                                            out in this Agreement.
	 	 	 
		(c)	Channel
                                            Partner shall ensure that no Affiliate shall make any claim against TeleSign, and shall instead
                                            bring any claim against TeleSign for alleged breach of this Agreement directly in the name
                                            of the Channel Partner. 
	 	 	 
		(d)	If
                                            any Channel Partner Affiliates wish to bring claims against TeleSign and/or TeleSign’s
                                            Affiliates in relation to the same or similar alleged breach, such claims must be raised
                                            solely by Channel Partner and heard as a single claim.
	 	 	 
		(e)	TeleSign
                                            may, on written notice to Channel Partner, determine that a specific Affiliate or Affiliates
                                            shall not be entitled to use the Services if such use would, in TeleSign’s reasonable
                                            opinion, be likely to result in material harm to TeleSign, the Services, or TeleSign’s
                                            other customers.

 

		3.5	Resale
                                            of the Services. TeleSign appoints Channel Partner to act as a non-exclusive authorised
                                            reseller of the Services in the Territory, and Channel Partner hereby accepts such appointment,
                                            subject to the following terms and conditions:

 

		(a)	In
                                            the resale of the Services, Channel Partner shall: (i) act dutifully and in good faith; (ii)
                                            not do anything to disparage, impede or jeopardise TeleSign’s goodwill or reputation
                                            or Services; (iii) not accept orders on TeleSign’s behalf, or bind or commit TeleSign
                                            in any other way; (iv) resell the Services in accordance with any brochure, guide, device,
                                            description or instructions relating to the Services published by or on behalf of TeleSign,
                                            or such reasonable operating guides or instructions as may be notified by TeleSign to Channel
                                            Partner from time to time; and (v) comply with all applicable Laws relating to anti-bribery
                                            and anti-corruption (the “Relevant Requirements”),
                                            and have and shall maintain in place throughout the term of this Agreement its own policies
                                            and procedures to ensure compliance with the Relevant Requirements, and will enforce them
                                            where appropriate.

 

		(b)	TeleSign’s
                                            contractual relationship remains with Channel Partner, and TeleSign shall have no legal or
                                            other responsibility towards any Customer. Channel Partner shall be solely responsible for
                                            its terms of service with Customers, provided that in respect of the use of the Services
                                            and Licensed Data, Channel Partner shall impose equivalent terms on Customers as are imposed
                                            on Channel Partner herein (including all obligations, responsibilities, representations,
                                            warranties, restrictions, and limitations on liability), and Channel Partner shall procure
                                            that all Customers comply with such terms.

 

		(c)	Channel
                                            Partner shall be fully liable and responsible for all acts and omissions of all Customers,
                                            including making payment for use of Services and all obligations, warranties, undertakings
                                            and indemnities of the Channel Partner that relate to Customer use of the Services as set
                                            out in this Agreement. To the extent that performance of any of Channel Partner’s obligations
                                            or responsibilities is dependent upon performance by a Customer (for example obtaining User
                                            consent), Channel Partner shall ensure that Customers perform so as to enable Channel Partner
                                            to comply with its obligations and responsibilities under this Agreement. Without limiting
                                            the foregoing, if any Customer fails to comply with any of the AUP, Channel Partner shall
                                            immediately cease reselling all Services to that Customer.

 

		(d)	Channel
                                            Partner must pay TeleSign the Fees as and when they fall due, irrespective of whether Channel
                                            Partner receives payment for its services from any Customer. Channel Partner shall be solely
                                            responsible for setting appropriate Customer tariffs, and for the billing and collection
                                            of all monies due to it from its Customers.

 

		(e)	TeleSign
                                            will not deal directly with Customers and TeleSign will not provide any customer support
                                            to Customers. Channel Partner must deal with all Customer queries. If TeleSign receives queries
                                            from Customers, TeleSign needs to inform Channel Partner to enable it to contact Customers
                                            directly .

 

		(f)	Channel
                                            Partner shall ensure that no Customer shall make any claim against TeleSign, and shall instead
                                            bring any claim against TeleSign for alleged breach of this Agreement directly in the name
                                            of the Channel Partner.  Channel Partner shall indemnify, defend and hold harmless TeleSign,
                                            its Affiliates, and their respective officers, directors, agents and employees against all
                                            liabilities, costs, expenses, damages and losses arising out of any claim made by any Customer
                                            arising from the performance or non-performance of the Services.

 

		(g)	If
                                            Channel Partner wishes to bring any claims against TeleSign and/or TeleSign’s Affiliates
                                            in relation to the same or similar alleged breach affecting multiple Customers, such claims
                                            must be raised solely by Channel Partner and heard as a single claim.

 

		(h)	Channel
                                            Partner does not have exclusivity in respect of any Customer or any area within the Territory.
                                            TeleSign is free to market and sell products and services in the Territory through any sales
                                            channel of TeleSign other than through Channel Partner, whether directly or indirectly via
                                            introducers, partners, resellers or other kind of representative or channel partner.

 

		(i)	Channel
                                            Partner is not entitled to appoint third parties as resellers of the Services without TeleSign’s
                                            prior written consent, which TeleSign may withhold in its sole discretion.

 

 

		(j)	Channel
                                            Partner shall, upon reasonable request from TeleSign, notify TeleSign of any anticipated
                                            material increase in volume of transactions in the following month, and shall give as much
                                            longer notice as is reasonably possible in the event of any anticipated significant increase
                                            in volume of transactions.

 

		3.6	Marketing
                                            Guidelines: 

 

		(a)	In
                                            the event that TeleSign agree in writing to allow Channel Partner to resell TeleSign branded
                                            Services, Channel Partner shall be entitled to use TeleSign’s Proprietary Marks as part of such resale of TeleSign branded Services only,
provided that Channel Partner shall:

 

    	TeleSign Corporation – Confidential	Page 4 of 8

     

    

 

		(i)	strictly
                                            abide by any marketing guidelines and other instructions issued by TeleSign regarding the
                                            use of TeleSign’s Proprietary Marks at all times;

 

		(ii)	obtain
                                            TeleSign’s prior written consent before issuing or publishing any new marketing materials,
                                            publications, or product documentation that uses any TeleSign Proprietary Marks;

 

		(iii)	only
                                            use any approved marketing materials, publications or product documentation for the purpose
                                            approved by TeleSign; and

 

		(iv)	cease
                                            using any marketing materials, publications or product documentation immediately upon request
                                            by TeleSign.

 

		(b)	Other
                                            than as set out in section 3.7(a), Channel Partner shall not, without TeleSign’s prior
                                            written permission, which TeleSign may withhold in its sole discretion:

 

		(i)	use
                                            TeleSign’s Proprietary Marks, order forms or other TeleSign collateral for any purpose;

 

		(ii)	market
                                            or sell its services as “TeleSign” services to its Customers. Channel Partner
                                            shall market or sell the Services under its own brand to Customers;

 

		(iii)	hold
                                            itself out as a representative of TeleSign or related to TeleSign in any capacity; or

 

		(iv)	identify
                                            TeleSign as the supplier of the Services to any person.

 

		4.	PRIVACY
                                            & DATA PROTECTION

 

		4.1	Data
                                            Protection Laws. The Parties have entered into a DPA on *** and EU SCCs on *** and commit
                                            to comply therewith.

 

		4.2	Channel
                                            Partner Data. TeleSign shall use Channel Partner Data only to provide, maintain, and
                                            improve the Services, and in accordance with the Data Processing Addendum. Channel Partner
                                            Data, including any Personal Information therein, may be stored and processed in ***. Channel
                                            Partner consents to any such transfer and appoints TeleSign to conduct such a transfer on
                                            Channel Partner’s behalf in order to provide the Services. Channel Partner acknowledges
                                            that as part of the Services, for every Transaction, an assessment is carried out as to the
                                            fraud risk of a particular Transaction. Channel Partner consents to the results of each such
                                            Transaction, including the telephone number to which such Transaction relates, being re-used
                                            by TeleSign for the purposes of future fraud identification and prevention as part of the
                                            Services, provided applicable laws allow.

 

		4.3	Consent.
                                            Channel Partner shall provide all Users with any disclosure or explanation required by Applicable
                                            Laws concerning the Channel Partner’s use of the Services, and obtain, maintain and
                                            secure any necessary consent and authorizations from Users that may be required by Applicable
                                            Laws in order to authorize TeleSign’s provision of the Services, or otherwise ensure
                                            a lawful basis for TeleSign’s provision of the Services and processing of Channel Partner
                                            Data, including any Personal Information. 

 

		5.	CONFIDENTIALITY

 

		5.1	Confidential
                                            Information. As used herein, “Confidential Information” means all
                                            confidential and proprietary information of a Party (“Disclosing Party”)
                                            disclosed to the other Party (“Receiving Party”) that (a) if disclosed
                                            orally is designated as confidential at the time of disclosure, (b) if disclosed in writing
                                            is marked as “Confidential” and/or “Proprietary”, or (c) reasonably
                                            should be understood to be confidential given the nature of the information and the circumstances
                                            of disclosure, including, the terms and conditions of this Agreement (including pricing and
                                            other terms reflected in all Channel Partner Orders) and/or of provision of the Services,
                                            screen shots of the Services, pricing in proposals, business and marketing materials, technology
                                            and technical information, product designs, and business processes. Notwithstanding the foregoing,
                                            each Party may disclose the existence and terms of this Agreement, in confidence on terms
                                            no less strict than as set out herein, to a potential purchaser of or successor to any portion
                                            of such Party’s business resulting from the reorganization, spin-off, or sale of all
                                            or a portion of all of the assets of any business, division, or group of such Party. Confidential
                                            Information shall not include any information that: (i) is or becomes generally known to
                                            the public without breach of any obligation owed to the Disclosing Party; (ii) was known
                                            to the Receiving Party prior to its disclosure by the Disclosing Party without breach of
                                            any obligation owed to the Disclosing Party; (iii) was independently developed by the Receiving
                                            Party without breach of any obligation owed to the Disclosing Party, which can be demonstrated
                                            with clear and convincing evidence; or (iv) is received from a third party without breach
                                            of any obligation owed to the Disclosing Party.

 

		5.2	Confidentiality.
                                            The Receiving Party shall not disclose or use any Confidential Information of the Disclosing
                                            Party for any purpose outside the scope of this Agreement, except with the Disclosing Party’s
                                            prior written permission. Notwithstanding the foregoing, the Receiving Party may disclose
                                            such Confidential Information to those of its employees, contractors and Affiliates who need
                                            to know such information for purposes of performing or receiving the Services and certifies
                                            that such employees and contractors have agreed, either as a condition of employment or in
                                            order to obtain the Confidential Information, to be bound by terms and conditions substantially
                                            similar to those in this Agreement. The Receiving Party shall use the same degree of care
                                            to protect the Confidential Information as it uses to protect its own information of a confidential
                                            and proprietary nature, but in no event shall it use less than a commercially reasonable
                                            degree of care. 

 

		5.3	Compelled
                                            Disclosure. If the Receiving Party is compelled by Applicable Law to disclose Confidential
                                            Information of the Disclosing Party, it shall provide the Disclosing Party with prior notice
                                            of such compelled disclosure (to the extent legally permitted) and reasonable assistance,
                                            at Disclosing Party’s cost, if the Disclosing Party wishes to contest the disclosure.

 

    	TeleSign Corporation – Confidential	Page 5 of 8

     

    

 

		6.	WARRANTIES,
                                            INDEMNITIES, LIABILITY AND TERMINATION

 

		6.1	TeleSign
                                            Warranties. TeleSign warrants that the Services will perform materially as described
                                            at https://www.telesign.com/services. Channel Partner’s only remedy, for any breach
                                            of this warranty will be, at TeleSign’s option and expense, to either (a) repair the
                                            Service; (b) replace the Service; or (c) terminate this Agreement with respect to the defective
                                            Service, and refund the unused, prepaid Fees for the defective Service during the then-current
                                            Term.

 

		6.2	Channel
                                            Partner Warranties. Channel Partner warrants and represents that, in the use of the Services,
                                            it and every Customer will: (a) comply with the Acceptable Use Policy; (b) use the Services
                                            and the Licensed Data in compliance with all Applicable Laws; and (c) obtain and maintain
                                            all necessary licenses, consents and permissions necessary for TeleSign to perform its obligations
                                            under this Agreement, including the provision of the Services.

 

		6.3	Disclaimers
                                            of Warranty. EXCEPT AS PROVIDED FOR HEREIN, THE SERVICES ARE SUBSCRIBED TO CHANNEL PARTNER
                                            “AS IS” AND WITH ALL FAULTS. EXCEPT AS PROVIDED FOR HEREIN, TELESIGN DOES NOT
                                            MAKE ANY REPRESENTATION AND/OR WARRANTY OF ANY KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED,
                                            IN CONNECTION WITH THE SERVICES, OR THE HARDWARE OR SOFTWARE UTILIZED OR ACCESSED IN CONNECTION
                                            WITH THE SERVICES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY,
                                            FITNESS FOR A PARTICULAR PURPOSE, AND/OR ANY WARRANTY THAT PROVISION OF THE SERVICES WILL
                                            BE UNINTERRUPTED OR ERROR FREE. CHANNEL PARTNER ACKNOWLEDGES THAT TELESIGN SECURES INFORMATION
                                            FROM THIRD PARTY SOURCES AND NEITHER TELESIGN NOR ANY OF ITS THIRD PARTY SOURCES WARRANT
                                            THAT THE INFORMATION WILL BE ACCURATE OR ERROR FREE. TELESIGN FURTHER DISCLAIMS ALL WARRANTIES
                                            NOT EXPRESSLY SET FORTH HEREIN. CHANNEL PARTNER AGREES THAT TELESIGN WILL NOT BE LIABLE FOR
                                            ANY CONTENT, INCLUDING BUT NOT LIMITED TO CONTENT THAT IS SENT, RECEIVED, HELD, RELEASED
                                            OR OTHERWISE CONNECTED IN ANY RESPECT TO THE SERVICES, CONTENT THAT IS SENT BUT NOT RECEIVED,
                                            AND CONTENT SENT USING AND/OR INCLUDED IN THE SERVICES (INCLUDING WITHOUT LIMITATION ANY
                                            THREATENING, DEFAMATORY, OBSCENE, OFFENSIVE, OR ILLEGAL CONTENT), OR ANY ACCESS TO OR ALTERATION
                                            OF CONTENT.

 

		6.4	TeleSign
                                            Indemnity. TeleSign (the “Indemnifying Party”) will defend Channel Partner
                                            (the “Indemnified Party”) against any claim brought by an unaffiliated third
                                            party to the extent it alleges Channel Partner’s authorized use of the Services infringes
                                            a copyright, patent, or trademark or misappropriates a trade secret of an unaffiliated third
                                            party.

 

		6.5	IPR
                                            Claim. In the defense or settlement of any Claim relating to section 6.4, TeleSign may
                                            obtain for Channel Partner the right to continue using the Services, replace or modify the
                                            Services so that they become non-infringing or, if such remedies are not reasonably available,
                                            terminate this Agreement without liability to Channel Partner. Section 6.4 and this section
                                            6.5 set out the entire liability of TeleSign and the sole remedy of Channel Partner with
                                            respect to any such infringement or violation relating to the Services.

 

		6.6	No
                                            fault. If the Services are found to violate the Intellectual Property Rights of a third
                                            party, TeleSign will have no obligation under section 6.4 for any infringement or violation
                                            claim that arises as a result of: (i) Channel Partner’s or any Customer’s use
                                            of the Services in breach of the Acceptable Use Policy; (ii) the combination, operation or
                                            use of the Services with equipment, software, content, services or data not supplied or recommended
                                            by TeleSign in writing; and/or (iii) Channel Partner’s or any Customer’s failure
                                            to use updated or modified software provided by TeleSign to avoid an infringement claim or
                                            failure to install upgrades or patches in a timely manner.

 

		6.7	Channel
                                            Partner Indemnity. Channel Partner (the “Indemnifying Party”) will defend
                                            TeleSign (the “Indemnified Party”) against any claim brought by an unaffiliated
                                            third party arising from Channel Partner’s use of the Services in breach of this Agreement
                                            and/or the Acceptable Use Policy.

 

		6.8	Indemnification
                                            procedure. The Parties will defend each other against third-party claims as and to the
                                            extent set forth in sections 6.4 and 6.7 (each a “Claim”) and will pay the amount
                                            of any resulting adverse final judgment or approved settlement. If any third party makes
                                            a Claim, or notifies an intention to make a Claim, the Indemnified Party shall:

 

		(a)	as
                                            soon as reasonably practicable, give written notice of the Claim to the Indemnifying Party,
                                            specifying the nature of the Claim in reasonable detail;

 

		(b)	not
                                            make any admission of liability, agreement or compromise in relation to the Claim without
                                            the prior written consent of the Indemnifying Party (such consent not to be unreasonably
                                            conditioned, withheld or delayed);

 

		(c)	give
                                            the Indemnifying Party and its professional advisers access at reasonable times (on reasonable
                                            prior notice) to its premises and its officers, directors, employees, agents, representatives
                                            or advisers, and to any relevant assets, accounts, documents and records within the power
                                            or control of the Indemnified Party, so as to enable the Indemnifying Party and its professional
                                            advisers to examine them and to take copies (at the Indemnifying Party’s expense) for
                                            the purpose of assessing the Claim; and

 

		(d)	subject
                                            to the Indemnifying Party providing security to the Indemnified
                                            Party’s reasonable satisfaction against any claim, liability, costs, expenses, damages
                                            or losses which may be incurred, take such action as the Indemnifying Party may reasonably
                                            request to avoid, dispute, compromise or defend the Claim.

 

    	TeleSign Corporation – Confidential	Page 6 of 8

     

    

 

		6.9	Limitation
                                            of Liability. OTHER THAN IN RESPECT OF ***, EACH PARTY’S AGGREGATE LIABILITY TO
                                            THE OTHER PARTY ARISING FROM OR RELATING TO THIS AGREEMENT OR THE SUBJECT MATTER HEREOF,
                                            UNDER ANY LEGAL THEORY (WHETHER IN CONTRACT, TORT, OR OTHERWISE), WILL IN NO EVENT EXCEED
                                            THE TOTAL OF ALL AMOUNTS PAID BY CHANNEL PARTNER TO TELESIGN FOR THE *** PERIOD IMMEDIATELY
                                            PRECEDING THE MONTH IN WHICH THE LIABILITY AROSE. IN NO EVENT SHALL EITHER PARTY BE LIABLE
                                            FOR ANY INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING, WITHOUT
                                            LIMITATION, LOST INCOME, LOST PROFITS, PRESENT AND FUTURE, REGARDLESS OF WHETHER SUCH LIABILITY
                                            IS BASED ON BREACH OF CONTRACT, BREACH OF WARRANTY (EXPRESS OR IMPLIED), ACTIVE OR PASSIVE
                                            NEGLIGENCE, INTENTIONAL OR UNINTENTIONAL TORT, STRICT LIABILITY, VIOLATION OF STATUTE, ORDINANCE
                                            OR REGULATION, FAILURE OF CONSIDERATION, OR OTHER BASIS, ARISING OUT OF THE PROVISION OF
                                            THE SERVICES. NOTWITHSTANDING THE FOREGOING, NEITHER PARTY EXCLUDES OR LIMITS LIABILITY TO
                                            THE OTHER PARTY FOR: (I) FRAUD OR FRAUDULENT MISREPRESENTATION; (II) DEATH OR PERSONAL INJURY
                                            CAUSED BY NEGLIGENCE; (III) INTENTIONAL MISCONDUCT OR GROSS NEGLIGENCE; AND/OR (IV) IF SUCH
                                            EXCLUSION OR LIMITATION WOULD BE IN BREACH OF ANY APPLICABLE LAW.

 

		6.10	Termination.
                                            

 

		(a)	Without
                                            affecting any other right or remedy available to it, either Party may terminate this Agreement
                                            or any Channel Partner Order with immediate effect by giving written notice to the other
                                            Party if the other Party commits a material breach of any term of this Agreement which breach
                                            is irremediable or (if such breach is remediable) fails to remedy that breach within a period
                                            of *** calendar days after being notified in writing to do so;

 

		(b)	Either
                                            Party may terminate this Agreement or any Channel Partner Order for any or no cause with
                                            *** days prior written notice.

 

		(c)	The
                                            termination of this Agreement shall not release Channel Partner from its obligations and
                                            liability to TeleSign with respect to any Fees incurred up to and including the date of termination
                                            (whether or not such Fees have been invoiced). Any such amounts shall become immediately
                                            due and payable upon termination.

 

		(d)	On
                                            termination of this Agreement or any Channel Partner Order for any reason, all licenses granted
                                            under this Agreement or such Channel Partner Order shall immediately terminate. Any rights,
                                            remedies, obligations or liabilities of the Parties that have accrued up to the date of termination,
                                            including the right to payment of Fees incurred and to claim damages in respect of any breach
                                            of the Agreement which existed at or before the date of termination shall not be affected
                                            or prejudiced.

 

		7.	MISCELLANEOUS
                                            PROVISIONS

 

		7.1	Force
                                            Majeure. Neither Party shall be liable for any delay or failure in performance due to
                                            Force Majeure, which shall mean acts of God, earthquake, labor disputes, changes in law,
                                            regulation or government policy, riots, war, fire, flood, insurrection, sabotage, embargo,
                                            epidemics, acts or omissions of vendors or suppliers, transportation difficulties, unavailability
                                            or interruption or delay in telecommunications or third party Services (including DNS propagation),
                                            failure of third party software or hardware or inability to obtain raw materials, supplies,
                                            or power used in or equipment needed, or any other event beyond the Parties’ reasonable
                                            control, whether similar or dissimilar to the foregoing. 

 

		7.2	Assignment
                                            & Subcontracting:

 

		(a)	This
                                            Agreement may not be transferred or assigned, in whole or in part, by any Party without the
                                            prior written authorization of the other Party, which shall not be unreasonably withheld.
                                            Notwithstanding the foregoing sentence, either Party may assign and/or novate this Agreement
                                            to a successor in interest in the event of a reorganization, merger, consolidation or sale
                                            of all of such Party’s assets or stock, except that neither Party may assign this Agreement
                                            to any entity that competes, directly or indirectly, with the non-assigning Party without
                                            the non-assigning Party’s written prior consent. A Party properly assigning this Agreement
                                            will provide notice of such assignment within *** days of the effective date of the assignment.

 

		(b)	Either
                                            Party may subcontract its obligations under this Agreement to an Affiliate, provided that
                                            the Party remains fully responsible for all acts and omissions of its Affiliates, and for
                                            any failure of its Affiliates to comply with all obligations and responsibilities of the
                                            Party under this Agreement and any applicable Channel Partner Orders. Nothing in this Agreement
                                            creates any contractual relationship between a Party and any Affiliate of the other Party.

 

		7.3	Use
                                            of Proprietary Marks. Each Party may use the other Party’s Proprietary Marks on
                                            its website and in promotional materials, solely to refer to the Channel Partner’s
                                            use of the Services, and only in accordance with any usage guidelines provided by the other
                                            Party.

 

		7.4	Waiver
                                            and Amendments. No waiver, amendment, or modification of any provision of this
                                            Agreement shall be effective unless agreed to by both parties in writing. No failure or delay
                                            by either Party in exercising any rights, power, or remedy under this Agreement shall operate
                                            as a waiver of any such right, power, or remedy.

 

		7.5	Severability.
                                            Should any term of this Agreement be finally determined by a court of competent jurisdiction
                                            to be invalid, unenforceable or otherwise contrary to law or equity, the parties agree that
                                            such provision shall be construed, limited, modified or, if necessary, severed, to the extent
                                            necessary to eliminate its invalidity or unenforceability, and that the other provisions
                                            of this Agreement shall remain unaffected. If any part of this Agreement is determined to
                                            be invalid or unenforceable pursuant to Applicable Law then the invalid or unenforceable
                                            provision will be deemed superseded by a valid, enforceable provision that most closely matches
                                            the intent of the original provision and the remainder of this Agreement shall continue in
                                            effect.

 

    	TeleSign Corporation – Confidential	Page 7 of 8

     

    

 

		7.6	Third
                                            Party Beneficiaries. Except as expressly provided for herein, the provisions of
                                            this Agreement are solely for the benefit of the parties hereto and not for the benefit of
                                            any third parties. 

 

		7.7	Governing
                                            Law; Forum. The laws of Belgium shall exclusively govern this Agreement, without regard
                                            to any contrary conflicts of laws principles. In event of a dispute arising under this Agreement,
                                            each Party will make reasonable, good-faith efforts to resolve such dispute informally. The
                                            parties agree to waive jury trial as to any claim, controversy or dispute arising under or
                                            related to this Agreement. All legal disputes arising from this Agreement shall be resolved
                                            in the courts of Brussels.

 

		7.8	Headings;
                                            Attachments. Headings used in this Agreement are provided for convenience only and shall
                                            not be used to construe meaning or intent. The exhibits and attachments attached hereto are
                                            incorporated and made a part of this Agreement by this reference. 

 

		7.9	Independent
                                            Contractor. Each Party is an independent contractor as to each other and no agency,
                                            partnership, joint venture or any legal relationship other than that of independent contractor
                                            is established by this Agreement.

 

		7.10 	Entire
                                            Agreement. This Agreement represents the entire Agreement between the parties and supersedes
                                            all prior and contemporaneous Agreements and understandings, both oral and written in nature,
                                            between the parties relating to the matters contained and set forth within the terms and
                                            conditions of this Agreement. The Parties hereby agree to the execution of this Agreement
                                            in one or more counterparts, and/or by electronic signature, including the use of the platform
                                            and processes of DocuSign, Inc. as may be updated from time to time.

 

		7.11	No
                                            impact on other remedies. Except as otherwise expressly provided in this Agreement, each
                                            Party’s remedies herein are in addition to any and all rights and remedies available
                                            to such Party at law or in equity.

 

		7.12 	Notices.  Notices
                                            shall be in writing and shall be personally delivered, delivered via courier or via certified
                                            mail, or by email to the other Party at the address first set forth above, or such new address
                                            as may from time to time be designated in writing by a Party. Notices shall be deemed effective
                                            upon receipt, or if delivery is not effected by reason of some fault of the addressee, when
                                            tendered.

 

		7.13 .	Survival Sections
                                            *** shall survive the termination of this Agreement.

 

		7.14 	Agreement Terms
                                            and Priority. This Agreement
                                            shall consist of this Agreement, the Channel Partner Order and all other exhibits, attachments,
                                            addenda and amendments hereto. If there is an inconsistency between any of the provisions
                                            in those documents, the provisions in the Channel Partner Order shall prevail over all others
                                            in respect of the Services governed by such Channel Partner Order, and the provisions in
                                            any exhibit (in particular Exhibit B), attachment or addenda shall prevail over the main
                                            body of the Agreement. Notwithstanding the foregoing, all provisions in the main Agreement
                                            relating to confidentiality, warranties, indemnities, limitation of liability and termination
                                            shall apply to all Channel Partner Orders and all exhibits, attachments, addenda and amendments
                                            hereto.

 

IN WITNESS WHEREOF, the parties have executed
this Agreement through their authorized representatives.

 

	CHANNEL PARTNER	 	TELESIGN CORPORATION

	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	        	 	Title:	              
	Date:	 	 	Date:	 

 

    	TeleSign Corporation – Confidential	Page 8 of 8

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