Terms and Conditions Project Aiur

The following Terms and Conditions (“Terms“) govern your (“you” or the “Purchaser”) purchase of cryptographic tokens (“C20”) from Iris.ai BG EOOD, a limited liability company incorporated under the laws of Bulgaria, with UIC 205032559, (the “Company”). Each of you and the Company is a “Party” and, together, the “Parties” to these Terms. This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. This document describes the AIUR token (“AIUR”) sale.

The Terms describe the initial sale of AIUR tokens (the “Initial coin offering” or “ICO”) as well as the rights and obligations arising for AIUR token owners. Please read the Terms carefully before using the services described by the Company or making offers to purchase AIUR tokens. By using the website of the Company used for the ICO or making offers to purchase AIUR tokens, you acknowledge that you have read these Terms and you agree to be bound by them. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT PURCHASE OR MAKE OFFERS TO PURCHASE AIUR TOKENS FROM THE COMPANY. IF YOU HAVE ANY QUESTIONS REGARDING THESE TERMS, PLEASE CONTACT THE COMPANY DIRECTOR, GEORGI DIMITROV, AT georgi@iris.ai.

By purchasing AIUR tokens, and to the extent permitted by law, you are agreeing not to hold any of the Company and its respective past, present and future employees, officers, directors, contractors, consultants, advisors, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Team”) liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of AIUR tokens, including losses associated with the terms set forth below.

DO NOT PURCHASE AIUR TOKENS IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS. PRIOR TO PURCHASING AIUR TOKENS, YOU SHOULD CAREFULLY CONSIDER THE TERMS BELOW AND CONSULT AN APPROPRIATE TECHNICAL EXPERT, LAWYER, ACCOUNTANT, OR TAX PROFESSIONAL.

PURCHASES OF AIUR TOKENS SHOULD BE UNDERTAKEN ONLY BY INDIVIDUALS, ENTITIES, OR COMPANIES THAT HAVE SIGNIFICANT EXPERIENCE WITH, AND UNDERSTANDING OF, THE USAGE AND INTRICACIES OF CRYPTOGRAPHIC TOKENS, INCLUDING ETHEREUM TOKENS, AND BLOCKCHAIN BASED SOFTWARE SYSTEMS.

Purchasers should have an expertise and experience with storage and transmission mechanisms of cryptographic tokens. The Company WILL NOT be responsible in any way for loss of cryptocurrency, Ethereum, AIUR tokens or any other funds resulting from the conduct of a Purchaser. If you DO NOT have relevant experience or expertise, then you should not purchase AIUR tokens. Your participation in the AIUR token sale is deemed as your acknowledgement that you satisfy the requirements mentioned in this paragraph.

THE COMPANY RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE THE PROVISIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. ALTHOUGH WE AIM AT INFORMING KNOWN USERS OF SUCH CHANGES, THIS MAY NOT BE POSSIBLE. THUS IT REMAINS AS YOUR OBLIGATION TO REVIEW THESE TERMS PERIODICALLY. ANY CHANGES SHALL BE EFFECTIVE IMMEDIATELY UPON POSTING AT OUR WEBSITE.

PURCHASER AGREES TO BUY, AND COMPANY AGREES TO SELL, AIUR TOKENS IN ACCORDANCE WITH THE FOLLOWING TERMS:

I. GENERAL

1. The AIUR token is a cryptographic token to be issued by the Company. The AIUR token is based on Ethereum, and purchase and future handling of AIUR tokens requires access to generally accepted storage and transmission systems of Ethereum.

2. The AIUR token is intended for testing and verifying the Aiur business model and its features as contemplated by the Company (as defined in Iris.ai’s project Aiur ICO White Paper (the “White Paper”) provided at https://projectaiur.com/ (the “Website”) as of the date the Purchaser acquires AIUR tokens) and provide the Purchasers with early and preferential access to the related products and services to be provided by the Company and/or other ecosystem participants. To the extent they do not contradict these Terms, the rights connected to AIUR tokens are subject to the limitations set out in the White Paper, but this should in no case create obligations for the Company in addition to the ones contained in these Terms.

3. AIUR tokens can be held and used at the sole discretion of the holder to the extent this does not contradict these Terms. AIUR tokens are utility tokens and cannot perform or have a particular value outside the AIUR business platform. Therefore, the AIUR tokens shall not be used or purchased for speculative or investment purposes.

4. In respect of the tasks described in 1.3 above, the Company has only such obligations and duties as expressly described in these Terms. Other obligations and duties are excluded.

5. The AIUR token is not a security. AIUR tokens are not shares and do not give any right to participate to the General meetings of Iris.ai BG EOOD. AIUR tokens are not a digital currency, commodity, or any other kind of financial instrument and they have not been registered under the securities laws of any country, including the securities laws of any jurisdiction in which a potential token holder is a resident. The Company is not an investment advisor and does not give investment advice to you.

6. Iris.ai BG EOOD is not a financial intermediary according to Bulgarian law and general EU regulations, and it is not required to obtain any authorisation for Anti Money Laundering purposes. However, good practices imposed by compulsory guidelines issued by financial regulators in certain countries require the verification of buyers identity and residency.

II. CONDITIONS OF THE AIUR TOKEN SALE

7.1. You are not eligible and are not permitted to participate in the AIUR token sale (as referred in these terms) if you are citizen or legal entity, resident or incorporated (with address, tax or otherwise) or green card holder of the USA or a resident of the Peoples Republic of China, South Korea or Iran. The same pertains for residents of the Republic of Singapore and Canada.

7.2. Such Restricted Persons refer to any firm, company, partnership, trust, corporation, entity, government, state or agency of a state or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of the restricted jurisdictions, listed above.

8. When you purchase, or otherwise receive, an AIUR token, you may only do so by accepting the following conditions and, by doing so, you warrant and represent that the following are a true and accurate reflection of the basis on which you are acquiring the AIUR tokens:

8.1. Neither the Company nor any member of our Team has provided you with any advice regarding whether the AIUR token is suitable for you to buy;

8.2. You have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, such as Bitcoin and Ether, as well as blockchain-based software systems generally;

8.3. You are legally permitted to receive and hold and make use of AIUR tokens in your and any other relevant jurisdictions;

8.4. You will supply us with all information, documentation or copy documentation that we require in order to allow us to accept your purchase of AIUR tokens and allocate them to you;

8.5. The whole information relating to your acquisition of AIUR tokens or otherwise is not inaccurate or misleading;

8.6. You will provide us with any additional information which may be reasonably required in order that we can fulfil our legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligation;

8.7. You will notify us promptly of any change to the information supplied by you to us;

8.8. You will comply with our Anti-Money Laundering and Know Your Customer Policy (“KYC policy” or “AML” or “KYC”) as made available on the Website and as amended, when necessary, at our discretion;

8.9. You are of a sufficient age to legally obtain AIUR tokens, and you are not aware of any other legal reason to prevent you from obtaining AIUR tokens;

8.10. You take sole responsibility for any restrictions and risks associated with receiving and holding AIUR tokens;

8.11. By acquiring AIUR tokens, you are not making a regulated investment, as this term may be interpreted by the regulator in your jurisdiction;

8.12. You are not obtaining or using AIUR tokens for any illegal purpose, and will not use AIUR tokens for any illegal purpose;

8.13. You waive any right you may have / obtain to participate in a class action lawsuit or a class wide arbitration against any entity or individual involved with the sale of AIUR tokens;

8.14. Your acquisition of AIUR tokens does not involve purchase or receipt of shares, ownership or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;

8.15. To the extent permitted by law and provided we act in good faith, the Company makes no warranty whatsoever, either expressed or implied, regarding the future success of the Company, the AIUR token, the Ethereum network and/or achieving any of the aspirations set forth in the White Paper;

8.16. You accept that the AIUR token is created and you obtain AIUR token on an “as is” and “under development” basis. Therefore, provided the Company acts in good faith, you accept that the Company is providing AIUR tokens without being able to provide any warranties in relation to them, including, but not limited to, title, merchantability or fitness for a particular purpose;

8.17. You accept that you bear sole responsibility for determining if (i) the acquisition, the allocation, use or ownership of AIUR tokens, (ii) the potential appreciation or depreciation in the value of the AIUR token over time, if any, (iii) the sale and purchase of AIUR tokens, and/or (iv) any other action or transaction related to AIUR tokens has tax implications. You are solely responsible for performing any and all obligations related to relevant tax implications, including, among other, declaring and paying applicable taxes.

III. STRUCTURE OF THE ICO

9. The sale will target raising EUR 10,000,000 (more specifically its ETH equivalent at the time of opening the sale) in overall sale proceeds, with a minimum floor for completion set at 60% and a hard cap of 500%. The sale will run until the earlier of: (1) oversubscription is reached related to the hard cap; or, (2) time for the sale has expired.

10. The ongoing development of the AIUR Knowledge Validation Engine and the Validated Repository will be funded by 75% of the amount raised through this initial token sale. These funds will be placed in an Escrow smart contract and will be released subject to the achievement of milestones, in an open, competitive environment, subject to Community scrutiny and ultimate decision-making. Any such decision shall be made through the automated voting system which is integrated with the smart contract.

11. The remaining 25% will be allocated to Iris.ai BG EOOD as payment for the service provision on account of the ideation, design and planning of Project AIUR, the formation and initial organization of the Community, and to cover other expenses required to successfully kick-off the project.

12. The Company reserves its right to grant initial access to the sale the Community of existing Contributors and Users and other whitelisted early backers referred to in the White Paper.

13. All tokens will be sold to purchasers at the same price, solely as a factor of time-to-closing.

14. Buying orders for, indicatively, more than 0.01% of the sale cap will require full identity disclosure via KYC and AML procedures.

15. The following limits apply on quantity of AIUR offered for purchase during the ICO:

15.1. There will be a maximum number of 8,000,000 AIUR sold through this sale;

15.2. The minimum purchase quantity is 5 AIUR and the maximum is 2% of the total token pool outstanding post sale.

16. Funds will be returned to token buyers automatically both if the sale does not complete or if there are unfulfilled or scaled back orders. In all fund returns a deduction of up to 3% will be applied to cover estimated direct third party transaction costs, whereas the exchange rate risk is borne by the Purchaser.

17. Consideration received during the sale will be provisionally exchanged for AIUR tokens. The sale will be followed by a lockup period of up two months post sale completion. During the lockup period additional KYC and AML procedures will be put in place. The Company reserves the right to adjust the final distribution of AIUR tokens.

18. Purchaser must have an Ethereum wallet that supports the ERC20 token standard in order to receive any AIUR purchased from the Company.

19. The Company’s founders will not receive any direct monetary compensation, in either fiat, crypto currency or AIUR tokens.

IV. PRICE OF AIUR

20. During the ICO, AIUR will be allocated in exchange for Ethereum at the pre discount rate of ETH 0.01 per token. The value of payments in Euros or in cryptocurrencies other than Ether, and the amount of AIUR to be allocated in exchange for such payments will be calculated based on exchange rates applicable at the time the payment has been confirmed by the network (in case the payment is made by transferring a cryptocurrency) or at the time the payment is credited to the Company’s current account (in case the payment is made in Euros). The Company is not liable for any changes in the exchange rate and the Purchaser accepts that the changes may decrease the number of AIUR to be allocated. The Company shall determine at its sole discretion which cryptocurrencies are acceptable for acquiring AIUR.

21. The sale will be divided into weekly tranches and stepped price increases will be introduced for each successive tranche.

22. Any third party which supports our token sale through the issuance of tokens at a discounted rate will be fully transparent before the token sale kicks off.

V. TIMING OF AIUR SALE

23. The pre-sale is targeted to start end of June, 2018, with initial access granted only to the Community of existing Contributors and Users and other whitelisted early backers as per article 12 above. After this initial pre-sale period, the sale will be opened to the public.

24. The sale will run until the earlier of: (i) the time four times oversubscription relative to the hard cap is reached; or, (ii) a four weeks public sale period.

25. The Company shall regularly publish the total number of AIUR subject to purchase orders and the notional distribution of all AIUR tokens between the participating Ethereum accounts.

26. The AIUR purchase may differ during the various phases of the sales period. Only purchase requests that are received by the Company during the relevant period and accepted by the Company under these Terms, entitle the Purchaser to relevant benefits arising from the relevant purchase order.

27. The Company reserves the right to change the dates defined in article 22 above or extend the sale duration for any reason, including any commercial, security, regulatory or procedural reason or issue.

28. Bulgarian time (UTC/GMT +2) shall apply to any dates and deadlines stipulated in these Terms.

VI. PURCHASE OF THE AIUR

29. During the ICO, the Purchaser can acquire AIUR tokens via the Website according to the procedure thereunder. In order to complete the purchase of AIUR, the Purchaser must comply with the Company’s KYC procedures.

30. In order to purchase AIUR tokens during the ICO, the Purchaser:

30.1. Creates a personal account on the Website;

30.2. Specifies the method and (crypto)currency for making the payment for acquiring AIUR;

30.3. Makes the payment for acquiring AIUR according to the instructions on the Website and these Terms. In case of non-compliance with the instructions and the Terms, the Company may either (a) return the payment to the Purchaser in the currency of the original payment after deducting relevant costs and charges the Company has incurred in connection with processing such payment (in which case no AIUR will be allocated to the Purchaser), or (b) require additional information from the Purchaser.

31. Making a payment for acquiring AIUR in accordance with article 28.3 is considered an irrevocable, unconditional and binding purchase order for acquiring AIUR tokens for the Purchaser.

32. The Purchaser is aware that due to processing time of payments and fluctuations of the exchange rates, the Ethereum equivalent of the payment made by the Purchaser may be different from the Ethereum equivalent of the payment received by the Purchaser. The exact quantity of the AIUR tokens allocated to the Purchaser depends on the exact Ethereum equivalent of the payment received by the Company from the Purchaser for relevant AIUR tokens.

33. Within two months from the end of the Token Sale Period, the Company will process all purchase orders received in the course of the ICO and shall allocate AIUR (in the amount calculated in accordance with article 19) to the wallet address provided by each Purchaser.

34. The Purchaser is entitled to allocation of the AIUR subject to compliance with the Company’s AML and KYC policy. The Company may require additional information from the Purchaser for KYC purposes. Non-compliance with the said policy results in consequences stipulated in the same policy.

VII. RIGHTS AND OBLIGATIONS ARISING OF AIUR OWNERS

39. The participants of the ICO automatically become members of the Community. Members of the Community have the following rights and obligations:

39.1. Each Community member has the right to:

39.1.1. Use the service of AIUR at any time without the need to host the system (R1).

39.1.2. Download and host AIUR on their own premises (R2).

39.1.3. Download, see, comment and modify the code of AIUR (R3).

39.1.4. Submit code changes in pull requests for approval to the Community (R4).

39.1.5. Report issues and express opinion about the design, implementation and execution of the system (R5).

39.1.6. Contribute in decision making for accepting issues and pull requests (R6).

39.1.7. Propose publication of authored or third party open access scientific research, in whatever form that may take in the future(R7).

39.1.8. Submit annotations to the system for their potential selection (R8).

39.1.9. Transparently scrutinize annotated datasets (R9).

39.1.10. Challenge the system’s individual components, such as research papers or annotations (R10).

39.2. Each Community member is obligated to:

39.2.1. Pay the usage contribution fee set for the use of AIUR services. This contribution fee could be reduced if the person is actively hosting an instance of AIUR on their own premises (see the White Paper) (O1).

39.2.2. Allow bandwidth of usage to anyone in the Community whenever hosting the service on their own premises, with rate discounts based on serviced requests (O2).

39.2.3. Disallow direct access to non-members of the Community, enabling access exclusively through service layers that guarantee payment by the non-members of the contribution fee set (O3).

39.2.4. Make authored research available open access, also publishing failed results with scientific value (O4).

39.2.5. Always behave and specifically vote with the Community’s best interest in mind (O5).

39.2.6. Respect and uphold the AIUR constitution in the face of identified threats (O6).

39.2.7. respect the efforts made by other Community members for building, maintaining and supporting the AIUR platform (O7).40. The Company will make public an official, regular and updated report on the status, financial situation and product development status of Project Aiur. Through this report, you will be able to track and confirm that the Company maintains its legal standing and progresses coordinating the product development process as described in the White Paper (as updated in the course of development of the Knowledge Validation Engine).

40. Irrespective of the above, the Purchasers are not regarded as shareholders, bondholders of anything similar and thus have no legal or financial expectation of influence over governance of the Company.

VIII. NO INVESTMENT ADVICE, NO TAX ADVICE

41. Although the Company has taken reasonable steps to ensure the integrity and accuracy of information communicated, the Company nor any of its agents owe any duty of care to you, nor make any express or implied representation or warranty, and no responsibility or liability is accepted by any of them with respect to the adequacy, accuracy, completeness or reasonableness of the facts, opinions, estimates, forecasts, projections or other information in the White Paper or any further information, written or oral notice, or other document at any time provided in connection with AIUR, the Company or any other aspect of the activities of the Company. Nothing shall be relied upon as a promise or representation regarding any historic or current position or future events. The opinions, descriptions, plans and intentions expressed by the Company are those held by the authors at the date of the relevant communication and may be subject to change.

42. Any materials and information published by the Company, inter alia the White Paper, are intended for informational purposes only. It may not be considered investment advice, investment research, recommendation, solicitation of any kind or an endorsement, nor will it form a part of any investment decision or any other decision regarding AIUR. You are solely responsible for determining whether acquisition of AIUR is appropriate or suitable for you based on your investment objectives and financial situation. Any decisions or actions taken on the basis of information presented by the Company, inter alia in the White Paper, the Website or other content is done at your own risk and discretion.

43. There is no guarantee that the Company will be successful. Similarly, there is no guarantee for the value of the AIUR tokens. You are advised to thoroughly assess the risks and uncertainties involved before making any decisions. No promises in terms of AIUR value or future performance are made.

44. The Purchaser bears the sole responsibility to determine if the purchase of AIUR or the potential appreciation or depreciation in the value of AIUR over time has tax implications for the Purchaser in the Purchaser’s home jurisdiction. By purchasing AIUR, and to the extent permitted by law, the Purchaser agrees not to hold any of the Company or the Team liable for any tax liability associated with or arising from the purchase of AIUR.

IX. EXCLUSION OF LIABILITY

45. The Company intends to operate in a highly regulated business area which requires a number of licenses and authorizations. The Company might not succeed in obtaining any or all of the necessary licenses and may therefore have to change its business plan. The Company disclaims all liability and responsibility to the maximum extent of the law for any statement or informative material communicated.

46. The sale of AIUR is not registered or otherwise approved by any regulatory authority in any jurisdiction. The White Paper does not constitute an offer to sell or a solicitation of an offer to acquire AIUR in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements, or undue burden, on the Company. Among other, AIUR may not at any time be offered, sold, pledged or otherwise transferred or delivered, directly or indirectly, within the People’s Republic of China, the Republic of Singapore, the United States of America, or to, or for the account or benefit of, US Persons (as defined in Regulation S under the US Securities Act). AIUR are being offered and sold solely outside the United States to non-US Persons.

47. In addition to other considerations and limitations, the AIUR tokens are only suitable for individuals and entities (i) who have significant experience with and understanding of the usage and intricacies of cryptographic tokens, (ii) who understand and are willing to assume the potential risk of loss and who understand that there may be limited liquidity and/or usage for AIUR; and (iii) who understand and are willing to assume the risks involved.

48. These Terms are subject to copyright with all rights reserved. They may not be published, distributed or transmitted by any other person by any means or media, directly or indirectly, in whole or in part.

X. DISCLAIMER OF WARRANTIES

49. THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING AIUR AT THE PURCHASER’S SOLE RISK AND THAT AIUR IS PROVIDED ON AN “AS IS” AND “UNDER DEVELOPMENT” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW).

XI. LIMITATIONS AND WAIVER OF LIABILITY

50. THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO (i) USE OF, OR INABILITY TO USE, AIUR OR (ii) THE TEAM UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NOT THE COMPANY OR NONE OF THE TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, AIUR, OR ARISING OUT OF ANY INTERACTION WITH THE SMART CONTRACT IMPLEMENTED IN RELATION TO AIUR. THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT THE COMPANY OR THE TEAM IS NOT LIABLE FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF AIUR TOKENS, AND THAT THE RISK OF PURCHASING AND USING AIUR TOKENS RESTS ENTIRELY WITH THE PURCHASER. TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL THE COMPANY OR ANY OF THE TEAM BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER HAS PAID TO THE COMPANY FOR THE PURCHASE OF AIUR TOKENS. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS ARTICLE AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO A PURCHASER. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILLFUL MISCONDUCT OR FRAUD OF THE COMPANY OR THE TEAM.

XII. COMPLETE AGREEMENT

51. These Terms (together with the Privacy Policy and Anti-Money Laundering and Know Your Customer Policy referred herein) set forth the entire understanding between the Purchaser and the Company with respect to the purchase and sale of AIUR tokens. For facts relating to the sale and purchase, the Purchaser agrees to rely only on these Terms in determining purchase decisions and understands that the Terms govern the sale of AIUR and supersede any public statements about the AIUR sale made by third parties or by the Company or the Team or individuals associated with any of the Team, past and present and during the AIUR sale.

XIII. SEVERABILITY

52. The Purchaser and the Company agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

XIV. NO WAIVER

53. The failure of the Company to require or enforce strict performance by the Purchaser of any provision of these Terms or the Company’s failure to exercise any right under these Terms shall not be construed as a waiver or relinquishment of the Company’s right to assert or rely upon any such provision or right in that or any other instance. The express waiver by the Company of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set forth in these Terms, no representations, statements, consents, waivers, or other acts or omissions by the Team shall be deemed a modification of these Terms nor be legally binding.

XV. UPDATES AND CHANGES TO THE TERMS

54. The Company reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the sale by posting the amended Terms on the Website. Any Purchaser will be deemed to have accepted such changes by purchasing AIUR. The relationship between the Company and the Purchaser is regulated by the version of the Terms in effect at the time of deciding on relevant right or obligation.

XVI. COOPERATION WITH LEGAL AUTHORITIES

55. The Company will cooperate with all law enforcement enquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions.

XVII. INDEMNIFICATION

56. To the fullest extent permitted by applicable law, the Purchasers will indemnify, defend and hold harmless the Company and the Team from and against all claims, demands, actions, damages, losses, costs and expenses (including attorneys’ fees) that arise from or relate to: (i) your purchase or use of AIUR; (ii) your responsibilities or obligations under these Terms; (iii) your violation of these Terms; or (iv) your violation of any rights of any other person or entity.

XVIII. SECURITY

57. You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold AIUR tokens purchased from the Company, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your Tokens. The Company is not responsible for any losses, costs or expenses relating to lost access credentials.

XIX. FORCE MAJEURE

58. The Company or the Team shall not be held responsible for non-compliance with these Terms, if the non-compliance is caused by a Force Majeure event which separately of in combination with other similar risks is beyond the reasonable control of the Company.

XX. APPLICABLE LAW AND DISPUTES

59. The ICO as well as any other rights and obligations arising from AIUR are governed by the laws of the Republic of Bulgaria.

60. The Company, any reader of this document and any person who intends to or has acquired AIUR shall make good faith efforts to amicably resolve any dispute, controversy or claim between them relating to AIUR and their respective rights and obligations hereunder.

61. In case a settlement is not reached between the parties, the dispute shall be resolved in accordance with applicable legislation of the Republic of Bulgaria with the Bulgarian Chamber of Commerce and Arbitration as the court of first instance.

XXI. PRIVACY

62. The Privacy Policy available on the Website is part of these Terms, and any interaction by the Company with its Community and Purchasers and vice versa shall comply with that policy.

XXII. LANGUAGE

63. Currently, only English versions of any communications with the Company is considered official. The English version shall prevail in case of differences in translation.

Last updated: June 21st 2018