Last Updated: December 5, 2015

Welcome to the website located at http://www.reorg-research.com and http://www.reorg-research.co.uk (collectively, with the Reorg Research mobile application, the "Site"). The Site is a service provided by Reorg Research, Inc., and Reorg Research Limited (together, “Reorg Research” or "we, us, our").

PLEASE READ THESE TERMS OF USE CAREFULLY AS THEY CONTAIN IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEMDIES AND OBLIGATIONS.

Except as otherwise provided below, these Terms & Conditions (the "Terms") govern your use of the Site, and its contents, including any text, statements, opinions, analyses, information, data, or other media available through the Site (the “Service” or “Services”)These Terms constitute a binding and enforceable agreement between you ("You" and "Your" refer to the person who is agreeing to these Terms and the user of the Site, individually and in your individual capacity as an employee, officer, agent, partner, etc. of each organization you represent in connection with any use of this Site) and us. By accessing the Site or using the Services, You acknowledge and agree that You have fully read and agree to be bound by the provisions of these Terms.

1. Registration and Acceptance

The Site is available only to entities and persons at least eighteen (18) years of age who can form legally binding agreements under applicable law. If You do not qualify, You are not permitted to use the Site. The Site is available for Your use only on the condition that You agree to the Terms. If You do not agree to the Terms, do not register, agree to these terms, access the Site or use the Services.

Where You are accessing the Site and/or Services during the course of your employment by an organization which has validly entered into an agreement to contract with us for the use of the Service (“User Agreement”), You will also be deemed to have accepted, and be bound by, these Terms. To the extent any provision of your organization’s User Agreement conflicts with these Terms, the provision of the User Agreement shall prevail.

2. Changes and Termination to Usage of Reorg Research

We have the right, but not the obligation, to take any of the following actions in our sole discretion at any time and for any reason without giving You any prior notice: (a) restrict, suspend or terminate Your access to all or any part of the Site; (b) change, suspend or discontinue all or any part of the Services; (c) refuse, move, or remove any content that is available on the Site; (d) modify the pricing of features or services (except for users subject to separate pricing agreements where changes will be in accordance with the terms therein); (e) deactivate or delete your accounts and all related information and files in your account; and (f) establish general practices and limits concerning access to the Site and use of the Services. You agree that we will not be liable to You or any third party for taking any of these actions.

3. Proper Use of This Site

You agree not to use the Services for any unlawful purpose and may use the Site only in ways consistent with the law. You may not use any program, spider or "bot" to gather or "harvest" information from this Site. You may not engage in any activity that interferes with or disrupts (in our sole discretion) the Services or the servers and networks which are connected to the Services, or access (or attempt to access) any of the Services by any means other than through the interface that is provided by Reorg Research. You agree to not use other users' accounts and to not let others use your account; violation of this will result in immediate termination of your access to the Site.

4. Changes to the Terms

These Terms may change and be updated at any time and we will post a notice to the Site of any changes. After we post a notice of any changes to the Site, Your continued use of the Site means that you accept any new or modified Terms. You can review the most current version of the Terms by clicking on the Site's "Terms & Conditions.”

5. Electronic Delivery Statement and Your Consent

You agree that we may provide to you notices and other information concerning Reorg Research or the Site electronically, including notice to any email address that You may provide.

6. PACER Usage

Certain features of the Site will allow You to access information and documents from the U.S. government's court electronic records system known as Public Access to Court Electronic Records ("PACER"). You agree and hereby acknowledge that we have an unrestricted right to use any data obtained on the Site via PACER, royalty free and without limitation.

7. Fees and Payments

You may elect to subscribe to Reorg Research by entering into a User Agreement with us.. We may change the usage and services charges in effect or add new fees or charges, by giving you notice in advance. Access to the Services is contingent upon full payment of Your services fees ("Fees") as agreed to in the User Agreement. Trial and beta users ("Trial Users") may access the Services at no cost as determined by us. We reserve the right to cancel any Trial Users at our discretion.

8. User Provided and 3rd Party Content

You agree that we are not liable for content on the Site that is provided by others. We reserve the right to remove any content for any reason at any time, though this right shall not place an obligation on us to monitor the Site and the Services.

You understand that all information, data, text, photographs, graphics, messages or other materials posted on the Site ("Content"), are the sole responsibility of the person from which such Content originated. We do not control the Content posted via the Site and, as such, do not guarantee the accuracy, integrity or quality of such Content. Under no circumstances will we be liable in any way for any Content, including, but not limited to, for any errors or omissions in any Content, or for any loss or damage of any kind incurred as a result of the use of any Content posted, emailed, transmitted or otherwise made available via the Site.

9. Disclaimer of Warranties

We provide this Site and its contents "AS IS." We and our suppliers make no express warranties or guarantees about this Site. TO THE EXTENT PERMITTED BY LAW, WE AND OUR SUPPLIERS DISCLAIM IMPLIED WARRANTIES INCLUDING ANY WARRANTY THAT THE SITE OR THE SERVICES ARE OR WILL BE MERCHANTABLE, OF SATISFACTORY QUALITY, ACCURATE, TIMELY, FIT FOR A PARTICULAR PURPOSE OR NEED, OR NON-INFRINGING. WE DO NOT GUARANTEE THAT THIS SITE OR THE SERVICES WILL MEET YOUR REQUIREMENTS, ARE ERROR-FREE, RELIABLE, OR WILL OPERATE WITHOUT INTERRUPTION. Because some jurisdictions do not permit disclaimer of implied warranties, you may have additional consumer rights under your local laws.

You acknowledge and agree that the Services are provided as general information only. Any opinions, estimates and probabilities presented in the Services constitute the judgment of the author as of the date indicated and are subject to change without notice. While all the information in the Services is believed to be accurate, we make no guarantee as to the completeness or accuracy of, nor can we accept any responsibility for, errors appearing in the Services. Other events which were not taken into account may occur, and any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. YOU ACKNOWLEDGE AND AGREE THAT NO INFORMATION AVAILABLE THROUGH THE SERVICES IS TO BE RELIED UPON, AND YOU FURTHER AGREE TO INDEPENDENTLY VERIFY ANY INFORMATION PROVIDED AS PART OF THE SERVICES AND WHICH YOU INTEND TO RELY UPON, AND, IF REASONABLY NECESSARY, YOU SHOULD SEEK THE ASSISTANCE OF AN ATTORNEY IN DOING SO.

The Services contain certain “forward-looking statements,” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, without limitation, estimates with respect to financial condition, market developments, and the success or lack of success of particular investments (and may include such words as “crash” or “collapse”). All are subject to various factors, including, without limitation, general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors that could cause actual results to differ materially from projected results.

The Services are provided to you on a confidential basis and are intended solely for the use of the person to whom it is provided. The Services may not be modified, reproduced or redistributed in whole or in part without our prior written consent.

We obtain information from a wide variety of publicly available sources. We do not have, nor do we claim to have, sources of inside or private information. The information set forth in the Services has been obtained from sources that we believe to be reliable; however, these sources cannot be guaranteed as to their accuracy or completeness. The delivery of the Services shall not, under any circumstances, create any implication that the information contained therein is correct, and we do not undertake an obligation to update such information at any time after the date noted therein.

The information we provide is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities. We do not act as a broker, dealer or investment adviser. The intelligence and news reporting, if any, constituting part of the information contained herein, must be construed solely as statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. In presenting information, Reorg Research is not expressing an opinion or making any recommendation as to the creditworthiness of any entity for which information is requested. Information provided by Reorg Research is not a substitute for the information assembled, verified and presented to creditors or investors by the entity named herein in connection with the extension of credit or the sale of the securities. The decision whether or not to extend credit or purchase securities is an individual one based on many factors including, but not limited to, financial and operating results, personal relationships and experience.

10. Limitation of Liability

You may not assert claims for money damages arising from the Site or the Services. We and our suppliers shall not be liable for any indirect, special, incidental, consequential or exemplary damages. Because some jurisdictions do not allow the exclusion or the limitation of liability for consequential or incidental damages, in such jurisdictions our liability, and the liability of our company and suppliers, shall be limited to the extent permitted by law.

Under no circumstances shall Reorg Research have any liability to any person or entity for any loss or damage in whole or in part due to any error (negligent or otherwise) within or outside the control of Reorg Research or any of its directors, officers, employees or agents in connection with any such information.

11. Indemnification

You agree to defend, indemnify, and hold harmless us and our parent and other affiliated companies, and our respective employees, contractors, officers, directors, and agents from all liabilities, claims, and expenses, including attorney's fees, that arise from your use or misuse of the Site. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event You will cooperate with us in asserting any available defenses.

12. Governing Law

Without limitation to Your consent to binding arbitration set forth below, any claim relating to the Reorg Research shall be governed by the laws of the United States of American and the State of New York without regard to its conflict of law provisions. You agree that the forum for any claim arising thereunder will be in the U.S. District Court for the Southern District of New York or the appropriate New York state court.

Federal or state law may require that we notify You of certain events. You hereby acknowledge and consent that such notices will be effective upon our posting them on our website or sending them to You via email. If you do not provide us with an up-to-date email, we cannot be liable if we fail to notify You.

13. Binding Arbitration

You agree that any disputes or claims that You may have against us will be (except as stated below) finally and exclusively resolved by binding arbitration. Any election to arbitrate by one party shall be final and binding on the other. The arbitration shall be commenced and conducted under the Commercial Arbitration Rules of the American Arbitration Association ("AAA") and, where appropriate, the AAA's Supplementary Procedures for Consumer Related Disputes ("AAA Consumer Rules"), both of which are available on the AAA web site www.adr.org. The determination of whether a dispute is subject to arbitration shall be governed by the Federal Arbitration Act and determined by a court rather than an arbitrator. Your arbitration fees and your share of arbitrator compensation shall be governed by the AAA Rules and, where appropriate, limited by the AAA Consumer Rules. If such costs are determined by the arbitrator to be excessive, Reorg Research will pay all arbitration fees and expenses. The arbitration may be conducted in person, through the submission of documents, by phone or online. The arbitrator will make a decision in writing, and will provide a statement of reasons if requested by a party. Except as otherwise provided in this Agreement, You and Reorg Research may litigate in court to compel arbitration, stay proceeding pending arbitration, or to confirm, modify, vacate or enter judgment on the award entered by the arbitrator. YOU UNDERSTAND THAT ABSENT THIS PROVISION, YOU WOULD HAVE THE RIGHT TO SUE IN COURT AND HAVE THE RIGHT TO A JURY TRIAL.

14. Severability and Integration

Except as otherwise provided, these Terms and any supplemental terms, policies, rules and guidelines posted on this Site constitute the entire agreement between You and us and supersede all previous written or oral agreements. If any part of the Terms is held invalid or unenforceable, that portion shall be construed in a manner consistent with applicable law to reflect, as nearly as possible, the original intentions of the parties, and the remaining portions shall remain in full force and effect.

15. Termination

We reserve the right to terminate your use of this Site if You violate the Terms or any rules or guidelines posted on the Site or for any other reason in our discretion.

16. Confidentiality

You shall keep confidential, shall not use for any purpose not permitted in these Terms and shall not disclose any password employed by You in Your use of the Site.

17. Audit

You grant us the right to audit Your use of the Site, so as to ensure compliance by You with these Terms.

18. Links

The Site may contain links to other websites, including, but not limited to, sites owned and operated by the U.S. Government, including but not limited to PACER. We do not have any control over these sites, and we are not liable for any loss or damage which may be incurred by You as a result of the availability of those external sites or resources, or as a result of Your reliance on the completeness, accuracy or existence of any advertising, products or other materials on, or available from, such sites or resources.