VantagePoint Intermarket Analysis Software Accuracy Measurements

VantagePoint Intermarket Analysis Trading Software Version 8.0.01 makes five predictions for the markets listed below:

Additional predicted technical indicators are computed including:

Each VantagePoint 8.0 market was trained and tested using stock and stock futures data provided by Commodity Research Bureau CRB. 

Data from 10/18/2001 to 10/18/2007 were used to train a total of 3,225 neural networks. Correlation analysis was used to select 25 intermarkets for each main market. The best inputs for each neural network were then selected using a multi-pass constructive methodology with dynamic optimization. Advanced statistical methods and heuristic search algorithms developed over more than 15 years of research and development with VantagePoint were also employed in the training process.

The Neural Index predicts whether a three-day moving average of the typical price will be higher or lower two trading days in the future. The typical price is the average of the high, low, and close price for the day. A Neural Index of one forecasts an up trend while a value of zero forecasts a down trend.

The accuracy of the Neural Index was tested using out-of-sample data from 10/18/2007 to 4/18/2008. Since the Neural Index prediction is either correct or incorrect each day, its performance is measured in terms of percent correct. For example, if the Neural Index prediction is correct 85 days out of 100, then the percent accuracy is 85%.

The Neural Index percent accuracy statistic for each VantagePoint Version 8.0 market is as follows:

79.4% 2 Year U.S. Treasury Notes
80.3% 2 Year U.S. Treasury Notes
78.0% 5 Year U.S. Treasury Notes
71.7% 10 Year U.S. Treasury Notes
74.8% 30 Year U.S. Treasury Bonds
76.4% 3M
72.4% A. Schulman
79.5% ABB Limited
74.8% Abbott
70.9% ACE
77.2% Activision
78.0% Adobe
86.6% AES
74.8% Aflac
81.1% Agco
75.6% Agrium
78.0% AIG
74.0% AirTran Holdings
79.5% AK Steel Holding
74.8% Akamai
78.7% Albemarle
73.2% Alberto-Culver
82.7% Alcoa Inc.
78.7% Allegheny Technologies
72.4% Alliance One Intl
76.4% Allstate
74.8% Altria Group
81.9% Aluminum Corp. of China
72.4% Amazon.com
79.5% AMD
72.4% Ameren
76.4% America Movil
81.1% American Axle & Manufacturing
76.4% American Electric Power
75.6% American Express
74.0% American States Water
78.0% AmeriCredit
74.8% AmerisourceBergen
72.4% Amgen
77.2% AMR
70.1% Anadarko Petroleum
75.6% Anheuser-Busch Companies
75.6% Aon
76.4% Apache
73.2% Apple
77.2% Applied Biosystems Group
72.4% Applied Materials
77.2% Aqua America
78.0% Arcelor Mittal
80.3% Arch Coal
79.5% Archer-Daniels Midland
70.9% AsiaInfo Holdings
78.7% AstraZeneca
80.3% ASX All Ordinaries
74.8% AT&T
82.7% Australian Dollar
72.4% Australian Dollar / Canadian Dollar
79.5% Australian Dollar / Japanese Yen
71.7% Australian Dollar / New Zealand Dollar
81.1% Australian Dollar / U.S. Dollar
74.8% Automatic Data Processing
76.4% AutoNation
76.4% Avon
83.5% AXA
76.4% Bank of America
78.0% Bank of New York
77.2% Barclays
76.4% Barrick Gold
83.5% BE Aerospace
76.4% Beacon Roofing Supply
79.5% Beazer Homes
78.7% Bebe Stores
80.3% Best Buy
78.7% BHP Billiton
72.4% Biogen Idec
80.3% BJ Services
73.2% BNSF Railway
78.0% Boeing
75.6% Boston Properties
77.2% BP
81.1% Briggs & Stratton
70.9% Bristol-Myers Squibb
81.1% British Pound
77.2% British Pound / Canadian Dollar
77.2% British Pound / Japanese Yen
80.3% British Pound / Swiss Franc
86.6% British Pound / U.S. Dollar
78.0% Broadcom
74.0% Brown Shoe Company
73.2% Bunge
81.1% Cablevision Systems
78.7% CAC-40 IDX
78.7% Cadence
76.4% Cameco
78.0% Campbell Soup
84.3% Canadian Dollar
81.9% Canadian Dollar / Japanese Yen
83.5% Canadian National Railway
84.3% Canola
78.7% Capital One
79.5% CapitalSource
81.1% Cardinal Health
79.5% CarMax
85.0% Caterpillar
78.7% CDC
75.6% Celgene
77.2% Cemex
79.5% CenterPoint Energy
76.4% Centex
79.5% Century Aluminum
81.1% Cepheid
80.3% CH Robinson Worldwide
81.1% Champion Enterprises
79.5% Charter Communications
74.8% Check Point Software Technologies
76.4% Cheesecake Factory
77.2% Chemtura
78.7% Chesapeake Energy
77.2% Chevron
81.9% Chico's
76.4% China Life Insurance
75.6% China Mobile
75.6% Chubb
76.4% Cintas
81.9% Cisco
80.3% Citigroup
81.1% CNH Global NV
85.0% Coach
79.5% Coca-Cola
74.8% Cocoa
73.2% Coeur d'Alene Mines
80.3% Coffee
74.8% Colgate-Palmolive
80.3% Comcast
78.0% Commercial Metals
77.2% Companhia de Saneamento Basico de Sao Paulo
74.8% Companhia Energetica de Minas Gerais
77.2% Companhia Vale do Rio Doce
74.8% Compass Minerals
77.2% ConAgra Foods
82.7% Conexant
77.2% ConocoPhillips
74.8% CONSOL Energy
77.2% Consolidated Edison
74.8% Constellation Brands
79.5% Consumer Discretionary SPDR
77.2% Consumer Staples Select SPDR
77.2% Continental Airlines
78.0% Continuous Commodity IDX
78.7% Copper
79.5% Corn
78.7% Corning
76.4% Costco Wholesale
76.4% Cotton
80.3% CPFL Energia
81.1% Crown Holdings
77.2% Crystallex Intl
75.6% CSX Corporation
74.0% CVS/Caremark
79.5% D.R. Horton
80.3% Daimler AG
74.8% Danaher
80.3% Darden Restaurants
78.7% Dax IDX
80.3% Deckers Outdoor
77.2% Dell
75.6% Devon Energy
81.1% Diamonds
81.1% Diana Shipping
72.4% Diebold
77.2% DJ Euro Stoxx 50 IDX
77.2% DJ Wilshire REIT ETF
80.3% DJIA
75.6% DJUA
78.0% Dominion Resources
81.9% Dover
77.2% Dow Chemical
73.2% Duke Energy
70.9% DuPont
81.1% Eagle Materials
74.8% EarthLink
76.4% Eastman Chemical
75.6% Eaton
81.9% eBay
81.9% Edison Intl
80.3% Eli Lilly
76.4% EMC
74.8% Emerson
79.5% E-Mini DJIA
81.9% E-Mini Euro FX
75.6% E-Mini Japanese Yen
81.1% E-Mini NASDAQ 100
77.2% E-Mini Russell 2000
81.1% E-Mini S&P 500
77.2% EnCana
70.9% Encore Wire
72.4% Energy Sector SPDR
78.7% Enersis
81.1% Eni SpA
74.8% Ensco Intl
78.7% Entergy
81.9% Equitable Resources
74.8% Equity Residential
81.1% Estee Lauder
77.2% Euro / Australian Dollar
82.7% Euro / British Pound
81.9% Euro / Canadian Dollar
74.8% Euro / Japanese Yen
78.0% Euro / Swiss Franc
81.1% Euro / U.S. Dollar
79.5% Euro Bund
82.7% Euro FX
76.4% Eurodollar
74.0% Exelon
80.3% Expeditors Intl
70.9% Exxon Mobil
75.6% EZCORP
74.0% F5 Networks
78.0% Fannie Mae
78.7% Fastenal
77.2% Federal Signal
78.0% Federated Investors
78.7% FedEx
81.9% Feeder Cattle
78.7% Fidelity National Information Services
76.4% Financial Sector SPDR
82.7% First Marblehead
74.8% FirstEnergy
81.1% Force Protection
81.1% Ford Motor
78.7% Fortune Brands
78.7% FPL Group
78.0% Freeport-McMoRan Copper & Gold
79.5% Frontline
78.0% Frozen Pork Bellies
78.7% FTSE 100 IDX
80.3% Gamestop
78.0% Gannett
76.4% Gap
78.0% Genentech
75.6% General Dynamics
78.0% General Electric
77.2% General Growth Properties
78.0% General Maritime
76.4% General Mills
81.9% General Motors
78.7% Genworth Financial
77.2% Genzyme
77.2% Georgia Gulf
79.5% Gerdau
79.5% Gilead Sciences
76.4% GlaxoSmithKline
79.5% Gold
79.5% Goldcorp
84.3% Golden Star Resources
74.0% Goldman Sachs
72.4% Goodrich
81.9% Google
75.6% H&R Block
79.5% Halliburton
72.4% Hang Seng IDX
81.9% Harley-Davidson
74.0% Harris
79.5% Hartford Financial
84.3% Hasbro
76.4% Hayes Lemmerz Intl
77.2% Headwaters
74.0% Health Care SPDR
78.0% Heating Oil
74.8% Hecla Mining
82.7% Hercules
78.7% Hershey
78.0% Hexcel
77.2% HJ Heinz
75.6% Home Depot
78.0% Honda Motor
74.8% Honeywell Intl
78.0% Hornbeck Offshore Services
80.3% Hot Topic
78.7% Hovnanian Enterprises
75.6% HP
78.7% HRPT Properties Trust
80.3% Humana
79.5% Huntsman
79.5% IBM
76.4% ICICI Bank Ltd
79.5% Iconix Brand Group
78.7% IKON Office Solutions
76.4% ImClone Systems
77.2% Industrial SPDR
77.2% Ingersoll-Rand
74.0% Ingram Micro
74.0% Intel
77.2% Internet HOLDRs
77.2% Interpublic Group
75.6% Intl Paper
76.4% Intuit
79.5% IPE Brent Crude Oil
79.5% IPE Gas Oil
77.2% iShares COMEX Gold Trust
73.2% iShares CS RTY MAJ IDX
74.0% iShares DJ R EST IDX
80.3% iShares DJ Select Dividend Fnd
71.7% iShares DJ TRANS AVG
79.5% iShares Dow US Cns Gds
76.4% iShares FTSE/Xinhua China 25 IDX Fnd
73.2% iShares LEH 1-3Yr T-Bond
74.8% iShares LEH AGG FND
76.4% iShares MSCI Australia IDX Fnd
78.0% iShares MSCI Austria IDX Fnd
82.7% iShares MSCI Brazil IDX Fnd
71.7% iShares MSCI EAFE IDX Fnd
74.8% iShares MSCI Emerg Mkts IDX Fnd
77.2% iShares MSCI EMU IDX Fnd
72.4% iShares MSCI Germany IDX Fnd
75.6% iShares MSCI Hong Kong IDX Fnd
70.1% iShares MSCI Japan IDX Fnd
77.2% iShares MSCI Malaysia Fnd
76.4% iShares MSCI Mexico IDX Fnd
74.8% iShares MSCI South Korea IDX Fnd
82.7% iShares MSCI Switzerland IDX Fnd
71.7% iShares MSCI Taiwan IDX Fnd
76.4% iShares MSCI United Kingdom IDX Fnd
80.3% iShares NASDAQ Biotechnology IDX Fnd
80.3% iShares Russell 1000 Growth IDX Fnd
79.5% iShares Russell 1000 Value IDX Fnd
74.8% iShares Russell 2000 IDX Fnd
74.8% iShares Russell 2000 Value IDX Fnd
73.2% iShares S&P 100 IDX Fnd
75.6% iShares S&P 500 Value IDX Fnd
74.0% iShares S&P Europe 350 IDX Fnd
74.8% iShares S&P Global Energy Sector IDX Fnd
81.9% iShares S&P Latin America 40 IDX Fnd
76.4% iShares S&P SmallCap 600 IDX Fnd
70.1% iShares TR LEH 20+ T-Bond Fnd
78.7% ITT
77.2% J.B. Hunt Transport Services
79.5% J.C. Penney
77.2% Jabil
77.2% Japanese Yen
77.2% JDSU
80.3% JetBlue Airways
81.1% John Deere
76.4% Johnson & Johnson
79.5% Johnson Controls
80.3% Jones Apparel Group
77.2% Joy Global
77.2% JPMorgan Chase
78.0% Kansas City Southern
74.0% Kansas City Wheat
81.9% Kellogg
76.4% Kimberly-Clark
78.0% Kimco Realty
78.7% Knight Transportation
78.0% Korea Electric Power
78.7% Kraft Foods
79.5% Kroger
78.0% Landec
72.4% Landstar System
81.9% Lean Hogs
78.7% Lear
81.1% Lennar
73.2% Leucadia National
73.2% Level 3 Communications
78.0% Lexmark
70.9% Limited Brands
71.7% Lincoln National
74.8% Live Cattle
77.2% Liz Claiborne
73.2% Lockheed Martin
76.4% Loews
80.3% Louisiana-Pacific
81.9% Lowe's
76.4% LSI
79.5% Lumber
78.7% Lumera
81.9% Magna Intl
78.0% Manitowoc
76.4% Marathon Oil
78.0% Martin Marietta Materials
74.0% Marvel Entertainment
74.8% Marvell
74.8% Massey Energy
74.0% Materials SPDR
71.7% Mattel
80.3% McAfee
76.4% McDonald's
79.5% McGraw-Hill
74.0% McKesson
79.5% MeadWestvaco
78.0% Medco
83.5% Merck
76.4% Merrill Lynch
79.5% Methanex
77.2% MetLife
79.5% Mexican Peso
78.0% Micron Technology
76.4% Microsoft
75.6% Midcap SPDR Trust
78.0% Mini Corn
82.7% Mini Gold
79.5% Mini Silver
84.3% Mini Soybeans
77.2% Mini Wheat
79.5% Mitsubishi UFJ
77.2% MMC
79.5% Mobile Telesystems OJSC
81.1% Molson Coors Brewing
74.8% Monsanto
81.9% Morgan Stanley
70.1% Mosaic
79.5% Motorola
74.8% Nabors Industries
81.9% Nalco Holding
78.0% NASDAQ 100 IDX
78.0% NASDAQ Composite IDX
78.0% Nationwide
81.1% Natural Gas
81.1% Network Appliance
77.2% New York Times Company
78.0% New Zealand Dollar / U.S. Dollar
78.0% Newmont Mining
75.6% News Corp.
78.0% Nike
72.4% Nikkei 225 IDX
73.2% NiSource
80.3% Nissan Motor
78.7% Nokia
80.3% Norfolk Southern Corporation
75.6% Nortel Networks
76.4% Northrop Grumman
80.3% Novartis
72.4% Novell
75.6% Nuance
78.0% Nucor
77.2% NutriSystem
78.0% NVIDIA
81.9% NY Light Crude Oil
79.5% NYMEX miNY Light Crude Oil
79.5% NYMEX miNY Natural Gas
74.0% NYSE Composite IDX
78.7% Oats
77.2% Occidental Petroleum
76.4% Oil Services HOLDRs
80.3% Olin
79.5% ON Semiconductor
73.2% Oracle
77.2% Orange Juice
79.5% Orbital Sciences
76.4% Origin Agritech
81.1% Overseas Shipholding
81.1% Owens-Illinois
82.7% Pactiv
83.5% Palladium
74.8% Pan American Silver
77.2% Patterson-UTI Energy
74.8% Peabody Energy
79.5% PepsiCo
74.8% Petrobras Energia
80.3% Petro-Canada
77.2% PetroChina
74.8% Petroleo Brasileiro
78.0% Pfizer
81.9% Pharmaceutical HOLDRs
81.1% Pitney Bowes
78.7% Plains All American Pipeline
83.5% Platinum
76.4% PMC-Sierra
79.5% PNC
87.4% POOLCORP
78.0% PotashCorp
81.9% PPG Industries
75.6% PPL
73.2% Praxair
74.8% Precision Castparts
76.4% Priceline.com
78.0% Procter & Gamble
78.0% Progressive
78.7% Provident Energy
72.4% Prudential Financial
83.5% PS Dyn Bldg & Const.
75.6% PS Gld Drg Haltr USX China
80.3% PS QQQ
76.4% PS Wilderhill Enrgy
78.0% Public Service Enterprise Group
77.2% Pulte Homes
76.4% QUALCOMM
83.5% Quanta Services
76.4% Quiksilver
74.8% Rackable Systems
77.2% RadioShack
76.4% Rayonier
74.0% Raytheon
74.8% RBOB Gasoline
78.0% Red Hat
78.0% Rediff.com India
77.2% Regional Bank HOLDRs
78.0% Reliance Steel & Aluminum
73.2% REPSOL
78.0% Research In Motion
77.2% Retail HOLDRs
76.4% Revlon
73.2% Reynolds America
79.5% RFMD
81.9% Rite Aid
78.0% Rockwell Collins
79.5% Rohm & Haas
84.3% Rough Rice
84.3% Royal Bank of Canada
82.7% RR Donnelley & Sons
77.2% Ryanair Holdings
78.7% S&P 100 IDX
79.5% S&P 500 IDX
72.4% Safeway
80.3% SanDisk
78.7% Santander
84.3% Sara Lee
79.5% Schering-Plough
73.2% Schlumberger
75.6% Sealed Air
79.5% Sears Holding
72.4% Semiconductor HOLDR
78.0% Sempra Energy
74.0% Service Corporation Intl
82.7% Share Price IDX 200
74.8% Sherwin-Williams
78.0% Siemens
76.4% SIGA Technologies
75.6% Sigma Designs
78.0% Silver
73.2% Silver Standard Resources
80.3% Silver Wheaton
74.0% Simon Property Group
79.5% Singapore Straits Times IDX
72.4% Sirius XM Radio
79.5% Skechers U.S.A.
74.0% SLM
81.1% Smurfit-Stone
80.3% Southern Company
78.7% Southern Copper
70.1% Southwest Airlines
76.4% Southwest Water
75.6% Soybean Meal
89.0% Soybean Oil
82.7% Soybeans
76.4% Spartan Motors
77.2% Spartech
76.4% SPDRs
78.0% Spectrum Brands
74.8% Spectrum Pharmaceuticals
75.6% Sprint Nextel
73.2% Starbucks
74.8% Statoil ASA
80.3% Steel Dynamics
76.4% Streettracks Gold Trust
81.9% Sugar #11
77.2% Sunoco
76.4% SunOpta
74.8% SUPERVALU
81.1% Swiss Franc
74.8% Swiss Franc / Japanese Yen
71.7% Symantec
74.8% Sysco
74.0% Taiwan Semiconductor Manufacturing
79.5% Target
81.9% TASER
73.2% Tata Motors Limited
76.4% Technology SPDR
78.0% Teledyne Technologies
70.9% Televisa
81.9% Tellabs
77.2% Temple-Inland
78.0% Tenaris
78.7% Terex
77.2% Terra Industries
75.6% Teva Pharmaceutical Industries
74.8% Texas Instruments
75.6% Textron
70.9% The Andersons
76.4% The Travelers
78.0% Thermo Electron
78.0% Tibco Software
76.4% Time Warner
78.0% TiVo
79.5% TJX Companies
73.2% Tomkins
78.7% TOTAL
78.0% Toyota Motor
78.0% Transocean
73.2% Tyco
74.0% Tyson Foods
85.8% U.S. Dollar / Canadian Dollar
84.3% U.S. Dollar / Japanese Yen
79.5% U.S. Dollar / Swiss Franc
87.4% U.S. Dollar IDX
77.2% U.S. Steel
77.2% UBS AG
78.0% Union Pacific
75.6% United Healthcare Group
74.8% United Parcel Service
71.7% United Technologies
81.9% Unum Group
77.2% Urban Outfitters
79.5% USEC
78.7% USG
74.0% UST
82.7% UTi Worldwide
80.3% Utilities SPDR
74.0% Utilities HOLDRs
81.9% UTStarcom
76.4% Valero Energy
79.5% ValueClick
78.7% Vanguard Emerging Markets ETF
77.2% Vanguard Materials ETF
73.2% Vanguard REIT ETF
80.3% Verizon
85.0% Vertex Pharmaceuticals
77.2% Visteon
75.6% Vodafone
74.0% Vornado Realty Trust
72.4% Votorantim Celulose
75.6% Vulcan Materials
77.4% W.R. Berkley
77.2% Wachovia
78.7% Walgreen
78.7% Wal-Mart Stores
74.8% Walt Disney
76.4% Weatherford Intl
82.7% WellPoint
75.6% Wells Fargo
79.5% Werner Enterprises
81.1% West Pharmaceutical Services
75.6% Weyerhaeuser
80.3% Wheat
81.9% Whole Foods Market
70.9% William Wrigley Jr.
74.8% Williams Companies
75.6% Willis
76.4% Wolverine World Wide
74.0% Wyeth Limited
76.4% Xerox
81.1% Yahoo!
78.7% Yamana Gold
70.1% YRC Worldwide
77.2% Yum! Brands
78.7% Zoltek Companies

This is a legal agreement (the “Agreement”) between you (either an individual or an entity) (“Licensee”) and Market Technologies, LLC, a Florida limited liability company (“Market Technologies”).  Carefully read this Agreement before installing the VantagePoint Intermarket Analysis Software (the “Software”) on your computer.  There is also a hard-copy of this Agreement in the back of the VantagePoint User’s Guide. By clicking the “I Understand and Agree to the Terms” button when presented on the screen with the VantagePoint License Agreement, Licensee indicates its understanding and acceptance of the terms of this Agreement, is intending to create an electronic signature affirming its full understanding and agreement to be legally bound by all of the terms and conditions of this Agreement, agrees to execute this Agreement electronically and agrees that this Agreement is enforceable like any written negotiated agreement signed by Licensee, and is entering into a binding legal contract.This Agreement governs and relates to your license (“License”) and use of certain parts of the Software, including all component market categories (collectively referred to as the “VantagePoint Package”), the VantagePoint Intermarket Analysis Software User’s Guide, and related materials (such parts collectively referred to in this Agreement as the “Licensed Package”). VantagePoint utilizes security procedures to prevent software privacy and protect Licensee’s investment, which require Licensee to activate (“Activate”) the software after installation by performing an initial activation (“Initial Activation”), registration (“Registration”) within twenty-one days (“Registration Period”) following Initial Activation, and subsequent periodic reactivation (“Reactivation”) over the Internet on Licensee’s single computer. The components of Licensed Package are listed on Exhibit A to this Agreement. This Agreement will remain in effect until it is terminated in accordance with Section 18 below.   

 Licensee acknowledges that competing products and services are readily available and that Licensee is free to return the Licensed Package within the timeframe and under the restrictions provided in this Agreement.  Therefore, Licensee waives any right to assert that this Agreement is an unconscionable, improper or illegal contract of adhesion.

 1.         Non-exclusive License.                                          Subject to the terms and conditions of this Agreement, in exchange for the fees paid to Market Technologies by Licensee, Market Technologies hereby grants to Licensee a non-exclusive, non-assignable and non-transferable limited license to use Licensed Package according to the terms and restrictions set forth in this Agreement and subject to the payment by Licensee to Market Technologies of the necessary fees as specified by Market Technologies. 

2.         Use of Product.   

a.         Licensed Package contains all component market categories of the Software.  The specific component market categories for which Licensee has paid the appropriate fees for use is herein referred to as “Licensee’s Portfolio”.  As a courtesy to Licensee, all component market categories (including those component market categories included in Licensee’s Portfolio as well as those not included in Licensee’s Portfolio) will function during the twenty-one (21) day Registration Period following the date of Initial Activation of the Software by Licensee on Licensee’s computer. Licensee understands that this Agreement applies to all component market categories (both those included in Licensee’s Portfolio and those not included in Licensee’s Portfolio) and that Licensee must contact Market Technologies within the twenty-one (21) day Registration Period to complete Registration of Licensee’s Portfolio component market categories enabling the Licensee’s Portfolio to function in the Software past such twenty-one (21) day Registration Period.  If Licensee does not complete Registration of Licensee’s Portfolio within such twenty-one (21) day Registration Period, all component market categories (including the component market categories comprising Licensee’s Portfolio) in the Software will become disabled and will not function.  However, Licensee’s Portfolio component market categories can be enabled by Licensee at any time by contacting Market Technologies to complete Registration of the Licensee’s Portfolio at the prevailing fee set by Market Technologies.

b.         If Licensee thereafter desires to add new component market categories to Licensee’s Portfolio, upon payment of prescribed fees to Market Technologies as Market Technologies may specify, Licensee shall be entitled to a new Registration from Market Technologies similarly enabling the new component market categories to be included in Licensee’s Portfolio.

3.         Restrictions on Use.    Licensee shall not copy, reprint, reproduce, duplicate or modify any part of Licensed Package (electronically or otherwise) or assist any other party in doing so either during or after the term of this Agreement.  Licensee agrees, during the term of this Agreement, not to create or attempt to create, by reverse engineering, reverse assembling, reverse compiling, decompiling or otherwise, source programs or materials that simulate or perform similar functions to those in Licensed Package or information made available to Licensee under this Agreement.  Licensee further agrees not to create derivative works based upon Licensed Package, or any part or component market category thereof, or allow or authorize others to do so.  Licensee shall not rent, lease, or lend Licensed Package, provide commercial hosting services with Licensed Package or use Licensed Package in any form or by any means to provide trading advice or information to any third party for a fee, or post or distribute information based upon or derived from the output of the Licensed Package in any public or private forum including, but not limited to, print, the Internet, online chat, instant message, any form of newsletter (whether electronic or otherwise), radio or television, for any purpose,  including any commercial venture or purpose, in which the Licensee seeks to receive a fee for service. Licensee represents and warrants that Licensee will not participate in any commercial or business venture whatsoever, wherein the use of and reliance on Licensed Package is in any way a part of said commercial business venture. Notwithstanding all of the above, Licensee may make one copy of any software programs contained in Licensed Package for purposes of backup only and may only transfer such copy to one of Licensee’s hard disks.  Any such copy made must include the appropriate copyright notice as contained on the copy in Licensed Package originally provided to Licensee.

4.         Restrictions on Disclosure.     Licensee shall not, at any time, lease, license, transfer, publish, disseminate, or disclose Licensed Package or any part or component market category thereof or any output derived from the use of Licensed Package, in whole or in part, in any form or by any means (including, but not limited to, any form of newsletter whether electronic or printed, public trading forum or website) to any third party for financial gain, except to execute trades in Licensee’s own brokerage account.  Licensee shall not use Licensed Package or any part or component market thereof on more than one computer at any time whether on a network or otherwise.  If Licensee  intends to use Licensed Package in the furtherance of Licensee’s business enterprise or for any commercial business venture, Licensee shall not use Licensed Package without prior written permission from the President of Market Technologies and prior payment of the fee prescribed by Market Technologies for such use.

5.         Liability for Unauthorized Use or Disclosure. Licensee acknowledges that any unauthorized use or disclosure of Licensed Package will diminish the value of Market Technologies and its products and will cause irreparable and continuing damage to Market Technologies for which an adequate legal remedy will not exist. Accordingly, Licensee stipulates that, if it breaches any of its covenants in this Agreement, Market Technologies will be entitled to an entry of a court order granting specific performance or injunctive relief, without requirement of a bond or proof of monetary damage or an inadequate remedy at law, in addition to all other remedies available at law or equity.

6.         Title.    Licensee acknowledges that all title to and ownership rights in Licensed Package and any part or component market category thereof, including, without limitation, all derivative works, customizations, enhancements, modifications, improvements, derivations or other changes thereto (herein collectively referred to as the “Licensed Package & All Derivations”), all Updates (as defined below), and all underlying patent, copyright, trade secret, trademark and other intellectual property rights, are owned and/or exclusively licensed by Market Technologies.  Licensee shall not acquire any rights in Licensed Package & All Derivations of such Licensed Package, or any part or component market category thereof, or in any Update by virtue of this Agreement.  Market Technologies shall retain all title to and rights in physical materials included in Licensed Package and licensed under this Agreement.

7.         Disclaimer of Warranties.       MARKET TECHNOLOGIES’ SOLE AND EXCLUSIVE WARRANTY IS THAT THE CD-ROM DISK FURNISHED TO LICENSEE IS FREE FROM DEFECTS IN MATERIALS AND WORKMANSHIP UNDER NORMAL USE FOR A PERIOD OF NINETY (90) DAYS FROM THE DATE OF INITIAL RECEIPT BY LICENSEE.  If, under normal use, the CD-ROM disk(s) has such a defect within the first ninety (90) days from the date of initial receipt, Licensee is entitled to replacement of the defective disk(s) in accordance with Section 8 of this Agreement.  LICENSEE ACKNOWLEDGES THAT MARKET TECHNOLOGIES HAS NOT REPRESENTED OR WARRANTED THAT THE USE OF, OR ACCESS TO, THE LICENSED PACKAGE WILL BE UNINTERUPTED, ERROR FREE OR WITHOUT INACCURACIES OR DELAY DUE TO ANY NUMBER OF FACTORS INCLUDING WITHOUT LIMITATION NATURAL CATASTROPHIES; GOVERNMENTAL ACTS; POWER FAILURE, BREAKDOWNS OR FAILURE OF COMMUNICATIONS SYSTEMS OR THE INTERNET; PERIODIC SYSTEM MAINTENANCE, SCHEDULED OR UNSCHEDULED; TECHNICAL FAILURE OF THE LICENSED PACKAGE, TELECOMMUNICATIONS INFRASTRUCTURE, OR DELAY OR DISRUPTION ATTRIBUTABLE TO VIRUSES, DENIAL OF SERVICE ATTACKS, INCREASED OR FLUCTUATING DEMAND, AND ACTIONS OR OMISSIONS OF THIRD PARTIES. LICENSEE ACKNOWLEDGES THAT MARKET TECHNOLOGIES MAKES NO REPRESENTATIONS CONCERNING THE SUITABILITY OF LICENSED PACKAGE FOR USE BY LICENSEE, AND THAT LICENSEE SHOULD DETERMINE FOR HIMSELF OR ITSELF WHETHER, AND TO WHAT EXTENT, THE USE OF LICENSED PACKAGE IS SUITABLE FOR LICENSEE. LICENSEE FURTHER ACKNOWLEDGES AND UNDERSTANDS THAT MARKET TECHNOLOGIES MAKES NO CLAIMS, GUARANTEES, PROMISES OR WARRANTIES TO LICENSEE, EITHER EXPRESS OR IMPLIED, OF ANY NATURE WITH RESPECT TO LICENSED PACKAGE, OR ANY PART THEREOF; OR TO THE USE THEREOF OR AS TO THE RESULTS OR OUTPUT OF THE USE OF LICENSED PACKAGE; OR AS TO ANY CONDITION, QUALITY, PERFORMANCE, CORRECTNESS, ACCURACY, PROFITABILITY, PREDICTIVENESS, TIMELINESS, OPERATION, OR RELIABILITY THEREOF; OR TO THE INTERACTION (OR FAILURE TO INTERACT PROPERLY) WITH ANY OTHER HARDWARE OR SOFTWARE WHETHER PROVIDED BY MARKET TECHNOLOGIES OR A THIRD PARTY; OR AS TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF LICENSED PACKAGE WITH RESPECT TO ANY PROPOSED USE BY LICENSEE. MARKET TECHNOLOGIES DOES NOT REPRESENT OR WARRANT THAT THE MARKETS COMPRISING THE COMPONENT MARKET CATEGORIES WILL BEHAVE AS INDICATED BY THE OUTPUT DERIVED FROM THE USE BY LICENSEE OF LICENSED PACKAGE.  MARKET TECHNOLOGIES MAKES NO CLAIMS, GUARANTEES, PROMISES OR WARRANTIES TO LICENSEE WITH RESPECT TO ANY PROFITS FROM TRADING ON THE BASIS OF, OR IN RELIANCE ON, LICENSED PACKAGE OR THE USE THEREOF.   Licensee acknowledges that Market Technologies is not a market data provider, that Licensee will need to obtain and download daily end-of-day data compatible to the Software from an independent, third-party data provider at Licensee’s expense, and that Market Technologies and the Software do not have mechanisms for and do not endeavor to detect errors, omissions, data non-delivery, data mis-delivery or other problems with the data provided by Licensee’s data provider, and that it is the data provider’s, not Market Technologies’, duty to notify Licensee of any such errors, omissions, or other problems with the data provided.  Accordingly, Market Technologies shall not be responsible for any errors, omissions or other problems  in the data used by Licensee in conjunction with Licensed Package or any disruptions in the provision or transmission of such data by the Licensee’s data provider to the Licensee’s computer, which could cause the Licensed Package to generate incorrect, incomplete, or intermittent information that, if relied upon by Licensee, could result in misinformed trading decisions and potentially substantial losses.

8.         Damages.        Market Technologies' entire and maximum liability shall be for replacement of any defective disk.  NEITHER MARKET TECHNOLOGIES NOR ITS EMPLOYEES, OFFICERS, MANAGERS, MEMBERS, OR DIRECTORS SHALL BE LIABLE FOR ANY DAMAGES OR CLAIMS ARISING OUT OF, RELATED TO, OR IN CONNECTION WITH THE USE OR PERFORMANCE OF LICENSED PACKAGE, INCLUDING, BUT NOT LIMITED TO, SPECIAL, DIRECT, INCIDENTAL, LOST PROFITS, DIMINUTION IN VALUE, PROPERTY DAMAGE, CONSEQUENTIAL OR OTHER DAMAGES FOR ANY TYPE OF DAMAGE, INJURY OR LOSS, INVASION OR LOSS OF PRIVACY, OR FOR BREACH OF ANY DUTY (INCLUDING BUT NOT LIMITED TO ANY DUTY OF GOOD FAITH, NEGLIGENCE OR OF WORKMANLIKE EFFORT), HOWEVER CAUSED, OR UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PATENT INFRINGEMENT, TRADEMARK INFRINGEMENT, COPYRIGHT INFRINGEMENT, OR OTHERWISE AND REGARDLESS OF WHETHER EITHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.  THIS EXCLUSION SHALL APPLY DESPITE ANY DEFECT, ERROR, INCOMPLETENESS, OMISSIONS OR INACCURACIES IN THE SOFTWARE, DOCUMENTATION OR OTHER MATERIALS CONTAINED IN LICENSED PACKAGE OR IN ANY PRODUCT OR SERVICE FURNISHED TO LICENSEE BY MARKET TECHNOLOGIES IN CONNECTION THEREWITH, AND THIS EXCLUSION SHALL LIKEWISE APPLY EVEN IF MARKET TECHNOLOGIES HAS BEEN ADVISED OF THE EXISTENCE OR A POSSIBILITY OF ANY DEFECT, ERROR, INCOMPLETENESS, OMISSIONS, INACCURACIES OR SUCH DAMAGES OR CLAIM.  LICENSEE ACKNOWLEDGES THAT LICENSEE BEARS ALL RISK FROM ANY USE BY LICENSEE OF THE LICENSED PACKAGE AND THAT MARKET TECHNOLOGIES IS NOT RESPONSIBLE FOR ANY DAMAGES OR LOSSES SUSTAINED BY LICENSEE, INCLUDING BUT NOT LIMITED TO ANY DAMAGES TO LICENSEE’S COMPUTER, SOFTWARE, MODEM, TELEPHONE, DATA FILES OR OTHER PROPERTY RESULTING FROM LICENSEE’S USE OF LICENSED PACKAGE.

 9.         Updates.          Market Technologies agrees, but is not obligated, to advise Licensee of any modifications, neural network retrainings, enhancements and updates to Licensed Package including the availability of new component market categories (herein referred to collectively as “Updates”) as they are released by Market Technologies provided that Licensee has kept Market Technologies current with updated contact information including email address, mailing address, and daytime telephone number. Upon payment of prescribed fees to Market Technologies, as Market Technologies may specify from time to time for such Updates, Licensee will be entitled to receive and use such Updates in accordance with this Agreement.  If Licensee chooses not to pay for such Updates as they become available, Licensee will still be entitled to continue to use previous versions of Licensed Package that Licensee had paid for. However, it is understood that such previous versions will no longer undergo any further modifications, neural network retrainings, improvements or enhancements by Market Technologies.  Upon receipt of any Updates, if requested by Market Technologies to do so, Licensee agrees immediately to return to Market Technologies all previous versions of Licensed Package then in his or its possession. 

 10.            Mandatory On-Line Activation.

a)      Licensee acknowledges that Licensee, at Licensee’s sole expense, is responsible for and must provide all computer hardware, Internet connection, telephone and other equipment, and operating system software necessary to comply with the requirements needed for Initial Activation, Registration, and Reactivation of the Licensed Package in accordance with the procedures detailed in the VantagePoint Intermarket Analysis Software User’s Guide and that such Initial Activation, Registration, and Reactivation are based on the exchange of information between Licensee’s computer and Market Technologies through an Internet connection.  Licensee acknowledges that there are technological measures in the Software that are designed to prevent unlicensed or illegal use of the Software, and that Market Technologies may use such measures, which may include installing them on Licensee’s computer to verify Licensee’s compliance with the terms of  this Agreement. Licensee agrees to adhere to any requirements regarding such measures.

 b)      Licensee agrees that it will not take any action that imposes an unreasonable or disproportionately large load on Market Technologies’ on-line activation infrastructure. If it is determined that Licensee took action with the malicious intent of disrupting, destroying, or overloading Market Technologies’ on-line activation infrastructure, Licensee will be liable to Market Technologies for any and all available legal and equitable remedies. Such remedies would include but not be limited to reimbursing Market Technologies for all costs associated with returning the infrastructure to its normal operating level and reimbursing Market Technologies for any lost profits resulting from the disruption, destruction, or overload of its infrastructure.

 11.       Customer Support.      Market Technologies agrees to provide Licensee with reasonable telephone customer support (herein referred to as "Initial Support") for a period of twelve (12) months from the date of initial receipt of Licensed Package by Licensee. Non-cancelable, non-transferable, annual prepaid customer support (“Paid Customer Support”) is available upon the expiration of the Initial Support period during the product lifecycle of Licensed Package.  Neither Market Technologies, nor its affiliates, in the performance of providing Initial or Paid Customer Support services, provides or offers trading advice, strategies or systems of any kind. The sole purpose of support services is to assist Licensee in the use of the Licensed Package.

12.       Exchanges.      Licensee is entitled to one (1) exchange of Licensee’s Portfolio’s categories at no charge, with additional exchanges at the then-prevailing prescribed fee set by Market Technologies.

13.       Speculative Nature.     Licensee acknowledges and understands the speculative nature of the commodities futures and financial markets and recognizes the high degree of risk involved in participating in such markets, with or without the use of Licensed Package.  Licensee acknowledges and understands that Licensed Package provides information regarding possible future market movements based upon historical analysis of past market movements, that Licensed Package does not provide specific trade recommendations including buy and sell signals, that the markets comprising the component market categories may not behave as indicated by the output derived from the use by Licensee of Licensed Package and that Licensee bears the sole risk for all orders for trades placed by Licensee as a result of considering such output. Licensee also acknowledges that the Software and documentation furnished by Market Technologies in Licensed Package are an analytic tool only and are not intended to replace Licensee’s individual research or receipt of professional investment advice, and that neither the Licensed Package nor the Initial or Paid Customer Support related to the Licensee’s use of the Licensed Package constitute the provision of trading advice or an endorsement or recommendation by Market Technologies of any trading methods, programs, systems, or routines, based on, or tailored to, any positions or other circumstances or characteristics of Licensee or anyone else, or otherwise. Licensee further acknowledges that individual performance in the financial markets depends upon individual skills and experience at performing technical analysis, knowledge of and familiarity with the markets, effectiveness of individual decision making and decisiveness, and time availability to devote to analyzing and trading the markets. IT IS EXPRESSLY UNDERSTOOD THAT NEITHER THIS LICENSE AGREEMENT, NOR ANY STATEMENT, REPRESENTATION, OR ASSERTION WITHIN THIS LICENSE AGREEMENT OR ANY PROMOTIONAL MATERIALS LICENSEE HAS REVIEWED OR ANY OTHER ORAL OR WRITTEN STATEMENT OR REPRESENTATION MADE BY MARKET TECHNOLOGIES OR ITS AGENTS OR REPRESENTATIVES MAKES OR CONSTITUTES ANY GUARANTEE OF, OR REPRESENTATION RELATING TO, PERFORMANCE OF LICENSED PACKAGE  INCLUDING THAT OF ITS PREDICTIVE ACCURACY AT FORECASTING MARKET PRICES OR TRENDS AND THAT MARKET TECHNOLOGIES ALSO MAKES NO GUARANATEE OF PERFORMANCE EITHER IN THIS AGREEMENT OR OTHERWISE.  IT IS ALSO UNDERSTOOD THAT THE SOFTWARE IS AN ANALYTIC TOOL AND NOT A TRADING SYSTEM AND THAT MARKET TECHNOLOGIES MAKES NO REPRESENTATIONS OR GUARANTEES THAT LICENSEE WILL MAKE PROFITS AND/OR NOT SUFFER ANY LOSSES FROM TRADING BASED ON, OR IN RELIANCE ON, LICENSED PACKAGE OR THE USE THEREOF.   LICENSEE ASSUMES FULL RESPONSIBILITY TO MAKE HIS OR ITS OWN TRADING DECISIONS INVOLVING ENTRIES, EXITS, AND STOP PLACEMENTS, BASED UPON HIS OR ITS OWN ASSESSMENT OF HIS OR ITS TRADING STYLE, OBJECTIVES, RISK PROPENSITY, RISK CAPITAL, EXPERTISE AND EXPERIENCE AS A TRADER ALL OF WHICH CAN INFLUENCE LICENSEE’S TRADING RESULTS SUCH THAT HIS OR ITS  PERFORMANCE RESULTS MAY BE BETTER OR WORSE THAN THAT OF OTHER TRADERS INCLUDING THOSE WHO MAY ALSO BE USING LICENSED PACKAGE AT THE SAME TIME. UNDER NO CIRCUMSTANCES IS MARKET TECHNOLOGIES RESPONSIBLE FOR LICENSEE’S TRADING RESULTS OR PERFORMANCE BASED UPON THE TRADING DECISIONS THAT LICENSEE MAKES.  FURTHERMORE, IT IS UNDERSTOOD THAT HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.  LICENSEE AGREES THAT NO REPRESENTATION IS BEING MADE OR HAS BEEN MADE THAT ANY ACCOUNT OR TRADE WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN IN LICENSED PACKAGE OR IN ANY OF MARKET TECHNOLOGIES’ PROMOTIONAL MATERIALS.  IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.  ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.  IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING.  FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.  THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS, IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS, AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.  MARKET TECHNOLOGIES HAS HAD LITTLE OR NO EXPERIENCE IN TRADING ACTUAL ACCOUNTS FOR ITSELF OR FOR CUSTOMERS.  SINCE THERE ARE NO ACTUAL TRADING RESULTS TO COMPARE TO THE HYPOTHETICAL PERFORMANCE RESULTS, LICENSEE SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THESE HYPOTHETICAL PERFORMANCE RESULTS.

 14.       Hold Harmless; Indemnification; Release; Covenant Not to Sue.     Licensee acknowledges it is fully aware of the hazards and risks, including financial risks, associated with trading in commodity and financial futures, Forex, ETF and equities and the use of Licensed Package.  In part consideration of the license granted herein, Licensee agrees to release, indemnify and hold harmless Market Technologies, its successors, affiliates and assigns, and each of their respective officers, members, managers, directors, employees, contractors, insurers and agents (collectively, the “Releasees”), and waives with respect to each Releasee, and covenants not to sue any Releasee for, any and all liabilities, claims, demands, actions, causes of action, damages, losses and expenses (including, but not limited to, attorneys’ fees and costs) of any nature whatsoever (collectively, the “Liabilities”) arising out of or in connection with Licensee’s use of Licensed Package or trading decisions and payment of any fees associated with the License, Updates or Paid Customer Support. Such hold harmless, release, discharge, waiver and covenant not to sue shall include but not be limited to any Liabilities caused, in whole or in part, by the negligence (of any type) of any Releasee in connection with Licensed Package or the promotion or marketing thereof.  However, such Liabilities shall not include Market Technologies’ obligation, under Section 8 above, to replace a defective CD-ROM Disk. 

 15.       Intended Use. It is agreed by the parties that commodity and financial futures, Forex, ETF and equities traders in the furtherance of their investment pursuits are the intended users of Licensed Package.  Licensed Package is not designed for educational use or uses outside the commodity and financial futures, Forex, ETF and equities fields.  Licensee hereby represents to Market Technologies that Licensee is aware of the risks associated with the commodity and financial  futures,  Forex, ETF and equities fields and any program of trading therein.

 16.       Export Restrictions. Licensee acknowledges that Licensed Package is subject to U.S. export jurisdiction.  Licensee agrees to comply with all applicable international and national laws that apply to Licensed Package, including the U.S. Export Administration Regulations, as well as end-user, end-use, and destination restrictions issued by U.S. and other governments and shall pay all tariffs, duties and fees where applicable.

 17.       Governing Law, Jurisdiction, and Venue.      This Agreement shall be governed, interpreted and construed in accordance with the decisional laws of the State of Florida.  This choice of law provision is intended to operate to the exclusion of (a) any choice of law or other law or provision that would result in this Agreement or any disputes arising out of or related to this Agreement being resolved by the decisional laws of any other state or country and (b) any law or convention that would otherwise apply including, but not limited to, the United Nations Convention on Contracts for the International Sale of Goods.  If awarded, the total of all damages due to Licensee shall be in accordance with Section 8 above. The parties hereby both knowingly, voluntarily, intentionally and irrevocably agree to waive any right to have any issue resolved by a jury and cede to the Court all matters of law and fact for resolution. Licensee and Market Technologies each agree that the exclusive venue for bringing and maintaining any action arising out of, related to, or in connection with this Agreement shall be in Hillsborough County, Florida or federal court for the Middle District of Florida, Tampa Division.  Licensee and Market Technologies agree that, if Licensee brings any action or proceeding against Market Technologies in any other venue in violation of this forum selection clause and Market Technologies is the prevailing party on a motion to dismiss for improper venue or motion to transfer venue, Market Technologies will be immediately entitled to recover its costs and attorney’s fees associated with such motion.  Licensee hereby irrevocably consents to personal jurisdiction in the State of Florida and hereby waives any claim or defense that such venue is not convenient or proper, and consents to service of process by any means authorized by Florida law.

 18.       Term.   This Agreement shall remain in effect until terminated by one or more of the following occurrences:

 a.            Breach by Licensee of any term or condition of this Agreement; provided that, except as set forth below, Market Technologies shall give Licensee written notice of such termination at the last known business address of Licensee.  If Licensee fails to cure such breach within ten (10) days after such notice, Licensee shall immediately cease all use of Licensed Package and immediately return Licensed Package and all versions, parts and component market categories thereof and all Updates in its possession, including any materials and documentation related thereto to Market Technologies without prejudice to any other rights Market Technologies may have.

 b.            Without notice, upon breach by Licensee of any of the conditions set forth in Sections 3 or 4 above.

 Upon termination due to any occurrence enumerated in Subsections 18(a) or 18(b) above, Licensee shall immediately return to Market Technologies all parts and component market categories of Licensed Package & All Derivations and all Updates in its possession, including all copies, documentation, and materials, without refund or credit and without prejudice to any other rights Market Technologies may have.

 19.       Refund.  Licensed Package may be returned at Licensee’s expense for a partial refund (excluding a $500.00 refund fee and Market Technologies’ initial shipping and handling charges) provided that Licensee meets each of the following conditions: (a)  Licensee contacts Market Technologies within fifteen calendar days from the date of initial receipt by Licensee and requests deactivation of the Software; (b) Licensed Package is fully returned (as specified herein) and postmarked by Licensee within fifteen (15) calendar days from the date of initial receipt by Licensee; (c) the Licensee must execute and return a License Termination and Release Agreement (“the Termination Agreement”); and (d) Market Technologies must receive the Termination Agreement executed by Licensee, postmarked within ten (10) days from the date that Market Technologies sent the Termination Agreement to Licensee.  Market Technologies will only issue the refund amount after all four of the foregoing conditions have been met.  If all four of the foregoing conditions have not been met, Licensee shall not be entitled to any refund, notwithstanding Licensee’s completion of one or more of the foregoing conditions.  Upon request by Licensee, at any time either prior to or after Licensee has accepted the Agreement, a copy of the Termination Agreement will be emailed to the Licensee by Market Technologies. A return must include all versions, parts and component market categories of Licensed Package & All Derivations and all Updates then within the care, custody or control of Licensee, including the documentation, User Manual, and related materials, including any promotional offers that were made available to Licensee.  Subsequent licensing of additional Updates, components, or add-ons of any kind by Licensee does not extend the fifteen (15) calendar day window for return eligibility for any previous product or version licensed by Licensee. It is incumbent on Licensee to call Market Technologies at (813) 973-3875, Monday through Friday, 9:00 AM to 5:00 PM Eastern Standard Time to deactivate the Software over the telephone.  It is strongly encouraged for Licensee to use a traceable, overnight carrier to ensure compliance with this provision, as there will be no exceptions should this time frame not be met.       

IF LICENSEE RETAINS LICENSED PACKAGE BEYOND THIS FIFTEEN (15) CALENDAR DAY PERIOD, IT IS UNDERSTOOD THAT LICENSEE WILL NOT BE ENTITLED TO A REFUND OF THE FEE FOR THE ENTIRE LICENSED PACKAGE OR ANY COMPONENT MARKETS THEREOF FOR ANY REASON REGARDLESS OF THE CIRCUMSTANCES. 

20.       Successors.      It is agreed that the benefits and the burdens of this Agreement shall inure to the benefit of and be binding upon Market Technologies, its successors and assigns, and Licensee, his or its successors, heirs, and personal representatives.

21.       Attorney’s Fees.  In the event Market Technologies should be required to take legal action to enforce any of the provisions of this Agreement, Market Technologies may recover its reasonable Attorney’s fees (up to and including any appellate proceedings) and costs from the Licensee whether or not litigation results.  This Section shall be construed as an agreement, independent of any other provision in this Agreement, and the existence of any claim or cause of action on the part of Licensee against Market Technologies, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by Market Technologies of the provisions of this Section. 

22.       Construction.  Section headings and pronouns are included solely for convenient reference and shall not control the meaning or the interpretation of any of the provisions of this Agreement. 

23.       Entire AgreementU. The parties agree that this Agreement is the entire License Agreement between them governing the use of Licensed Package by the Licensee and supersedes any proposal or prior agreement, oral or written, or any other communications between them relating to the subject matter hereof. 

24.       Modifications.  The parties agree that this Agreement cannot be changed by any oral statements, but only by an agreement in writing signed by both of the parties.

25.       Updated and/or Subsequent Versions of Licensed Package.  The parties agree that this Agreement shall govern and control all obligations of Licensee with respect to the current version of the Licensed Package licensed to the Licensee and that any updated and subsequent versions of Licensed Package including new component market categories either added to the Licensee’s Portfolio or otherwise provided to the Licensee by Market Technologies shall be governed by the version of the License Agreement accepted by the Licensee when installing such updated and subsequent versions of the Licensed Package; provided, however, that, this version of the License Agreement shall control if the installation and/or use of such updated and subsequent versions of the Licensed Package are not supported by consideration.

26.       No Fraud or Reliance on Market Technologies Representations.  Licensee further acknowledges and agrees that Licensee entered into this Agreement based solely upon the terms contained within this Agreement and without relying upon any oral or written inducements, statements or representations by Market Technologies or its agents or representatives that are not set forth in this Agreement. 

27.       Severability.  If any provision of this Agreement is held for any reason to be unenforceable by a court of competent jurisdiction, the remainder of this Agreement will, nevertheless, remain in full force and effect in that jurisdiction

28.       Additional Acknowledgements.  LICENSEE FURTHER ACKNOWLEDGES THAT LICENSEE HAS CAREFULLY READ THIS AGREEMENT, HAD SUFFICIENT OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL OF LICENSEE’S CHOICE BEFORE ENTERING THIS AGREEMENT AND/OR CONTINUING WITH THE INSTALLATION OF THE SOFTWARE, UNDERSTANDS LICENSEE’S RIGHTS AND OBLIGATIONS UNDER THE AGREEMENT, AND THAT THE INSTALLATION BY LICENSEE OF THE SOFTWARE ON THE LICENSEE’S COMPUTER IS AN ACCEPTANCE BY THE LICENSEE OF ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

EXHIBIT “A”

LICENSED PACKAGE

VantagePoint Intermarket Analysis Software (includes all component market categories) comprised of 1 CD-ROM Disk enclosed in a CD Package: VantagePoint Intermarket Analysis Software.
VantagePoint Intermarket Analysis Software User’s Guide.
Book - Forex Trading using Intermarket Analysis by Louis B. Mendelsohn
Book - Trend Forecasting with Intermarket Analysis by Louis B. Mendelsohn