STRAIGHTHOLD INVESTMENT GROUP, INC.
LITEFOREX AFFILIATE AGREEMENT
This Affiliate Agreement (the "Agreement") sets forth the terms and
conditions regarding the Affiliate Program (the "Program") of Straighthold
Investment Group, Inc. ("LiteForex").
BY CLICKING ON THE "APPLY FOR AFFILIATE" BUTTON AT THE END OF THE AFFILIATE
APPLICATION, YOU (IF YOU ARE ACTING ON BEHALF OF YOURSELF AS AN INDIVIDUAL) OR
YOUR COMPANY (IF YOU ARE ACTING ON BEHALF OF YOUR COMPANY) (THE "AFFILIATE")
AGREE(S) TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT. PLEASE READ
THIS ENTIRE AGREEMENT CAREFULLY BEFORE ACCEPTING ITS TERMS.
1. Definitions: Capitalized terms in this Agreement will have the meanings set
forth below or attributed to them in various sections of the Agreement.
"Affiliate-Driven Visitor" means a unique end-user who accesses the LiteForex
Portal through an Affiliate Link on the Affiliate Site, or a unique end-user who
specifies an Affiliate Coupon during the account-opening process at LiteForex
Portal.
"Affiliate-Driven New Client" means an
Affiliate-Driven Visitor who opened a LiteForex account for the first time and
such account is not older than one (1) year, and who trades on LiteForex Trading
Desk and purchases LiteForex's services.
"Affiliate Activity" means number of Affiliate-Driven New Clients per one (1)
calendar year.
"Affiliate Coupon" means an alphanumeric
code allocated to the Affiliate by LiteForex, which the Affiliate can distribute
to potential clients by e-mail allowing LiteForex to track Affiliate-Driven Visitors.
"LiteForex Portal" means the web site owned and operated by LiteForex, which
provides market-related services and products, and which is located primarily at
http://www.LiteForex.org/, and any successors thereto.
"LiteForex Trading Desk" means the live, non-virtual trading desk(s) owned and
operated by LiteForex, where clients can trade market instruments through a
software application provided by LiteForex.
"Intellectual Property Rights" means all rights in and to trade secrets,
patents, copyrights, trademarks, know-how, as well as moral rights and similar
rights of any type under the laws of any governmental authority, domestic or
foreign, including rights in and to all applications and registrations relating
to any of the foregoing.
"Link" means a URL hidden behind a formatting option that may take the form of a
colored item of text (such as a URL description), logo or image, "button" or
graphic box, and which allows a user to automatically move to or between WWW
pages, WWW sites or within a WWW document.
"Market Position" is a market position
held by an Affiliate-Driven New Client on LiteForex Trading Desk. "Open
Market Position" is a Market Position that is
still active (open). "Closed Market Position" is a Market Position
that is closed (exited).
"Point Value" means an amount equal to
the profit or loss in US dollars (excluding interest) on a Closed Market Position
of an Affiliate-Driven New Client, divided by the profit or loss in Points on
the same Closed Market Position. One Point is the smallest increment in price
of a market instrument. If such profit or loss in Points is less than or equal
to three (3), the Point Value is zero (0) for the purpose of this Agreement.
2. Links and Coupons: The affiliate agrees
to promptly post at least one Link (the
"Affiliate Link(s)") to the LiteForex Portal at one (or more) web sites
owned or operated by the Affiliate (the "Affiliate Site") in no event
later than five (5) business days following the receipt by Affiliate of an Acceptance
Notice (as defined in Section 3 below). LiteForex will make available to the
Affiliate the Affiliate Link. The Affiliate acknowledges that the Affiliate Link
provided by LiteForex for inclusion in the Affiliate Site will include the LiteForex
tradename, trademark, service mark and / or logo (the "LiteForex Brand
Features"), and the Affiliate has no right to alter, remove, or customize
the LiteForex Brand Features. The Affiliate will not use or display the Affiliate
Link(s) or the LiteForex Brand Features in a manner that is defamatory, misleading,
libelous, obscene or otherwise potentially damaging to the reputation of
LiteForex, or the goodwill associated with the LiteForex Brand Features.
LiteForex's Portal utilizes cookie technology to recognize Affiliate-Driven
Visitors. Because visitors can delete or otherwise remove the cookie, LiteForex
will provide a number of Affiliate Coupons to the Affiliate. The Affiliate
can distribute the Affiliate Coupons to potential clients, who will
be asked to specify these during the account-opening process on LiteForex
Portal, making sure LiteForex Portal recognizes the Affiliate-Driven Visitor.
3. No Obligation to Accept; Effectiveness of Agreement: LiteForex may refuse to enter into this Agreement for any reason, including, without limitation (a) if the Affiliate Site promotes a product or service competitive to LiteForex ("Improper Promotion"); (b) if Affiliate Site (i) contains or links to any pornographic material, (ii) encourages illegal activity or discrimination, (iii) is regarded by LiteForex as inappropriate, or (iv) could result in liability or adverse publicity to LiteForex (collectively, "Improper Content"); or (c) if to do so would violate any applicable law, regulation or third party right. This Agreement will only become effective upon receipt by the Affiliate of an e-mail confirmation from LiteForex that LiteForex has accepted the Affiliate into the Program (the "Acceptance Notice"). Following acceptance, LiteForex reserves the right to terminate this Agreement immediately upon notice to the Affiliate if the Affiliate Site contains any Improper Content or Promotions.
4. Affiliate Obligations: The Affiliate will be solely responsible for the development, operation and maintenance of the Affiliate Site and for all materials that appear on the Affiliate Site, including but not limited to: (a) the accuracy and appropriateness of materials posted on the Affiliate Site; (b) ensuring that materials posted on the Affiliate Site do not violate or infringe upon the rights of any third party; (c) ensuring that the Affiliate Site does not contain any Improper Content; and (d) ensuring that the Affiliate Site does not engage in any Improper Promotion. The Affiliate hereby agrees to indemnify and hold LiteForex harmless from any and all claims, damages and expenses (including, without limitation, attorneys' fees) arising from the development, operation, maintenance and contents of Affiliate Site.
5. Payments: LiteForex shall pay to the Affiliate one (1) Point Value for each Closed Market Position for each Affiliate-Driven New Client. The applicable amounts payable to the Affiliate by LiteForex pursuant to this Section shall be referred to as "Commissions" for purposes of this Agreement. No Commissions shall be payable if an Affiliate-Driven Visitor leaves the LiteForex Portal without opening a LiteForex account and later returns to the LiteForex Portal to open LiteForex account via any method other than through an Affiliate Link or by using an Affiliate Coupon. Within forty-five (45) days following the end of each calendar month, LiteForex will provide the Commissions for such month to the Affiliate, along with a summary report showing the calculation of the Commissions for a specific month; provided, however, that no payment shall be due any month for which the total Commissions owed the Affiliate is less than 25.00 US dollars, and such amount will be carried over and paid the next month in which the aggregate Commissions owed equals or exceeds 25.00 US dollars.
6. License Grant: LiteForex hereby grants the Affiliate a limited, non-exclusive,
royalty-free, non-transferable, worldwide license, without the right to
sublicense, to use, reproduce, publicly perform, distribute and display the
LiteForex Brand Features at the Affiliate Site, solely as incorporated into the
Affiliate Link(s) and solely in the form delivered by LiteForex.
7. Reservation of Rights: LiteForex reserves all rights other than those
expressly granted in this Agreement, and no licenses are granted except as
expressly set forth herein. LiteForex retains all right, title, and interest in
and to the LiteForex Brand Features, LiteForex Trading Desk and the LiteForex
Portal, together with all Intellectual Property Rights thereof.
8. Program Information: LiteForex will own all right, title and interest in and to all information that is created or collected in the operation of the LiteForex Portal and LiteForex Trading Desk including, and without limitation to: (i) any contact information collected from any Affiliate-Driven Visitors, (the "Contact Information"); and (ii) any information collected about click-through rates and service and product sales at the LiteForex Portal, generated through the Affiliate Link(s) (the "Sales Information"); and (iii) any information collected about trading on LiteForex Trading Desk, generated by any Affiliate-Driven Visitors (the "Trading Information"). LiteForex will make certain Sales Information available online to the Affiliate from time to time. The Affiliate will not disclose any Sales Information to any third party without LiteForex's prior approval. Subject to the terms and conditions of this Agreement, LiteForex grants to the Affiliate a worldwide, non-exclusive, royalty-free license to use Sales Information solely in the manner and subject to the restrictions set forth in this Section.
9. Termination: This Agreement will begin upon the acceptance of the Affiliate application and will end on the date this agreement is terminated by either party. Except as otherwise explicitly provided in this Agreement, this Agreement may be terminated by either party upon two (2) days written notice to the other party. Upon termination or expiration of the Agreement: (i) all licenses granted herein shall terminate; (ii) the Affiliate shall immediately remove any Affiliate Links(s) from the Affiliate Site; (iii) LiteForex will pay the Affiliate any accrued and unpaid Commissions; and (iv) Sections 11, 12, 14, and 15, and this sentence will survive. Without limiting the foregoing, the Affiliate acknowledges that LiteForex will, once per each calendar year, evaluate Affiliate Activity and if the Affiliate Activity is not satisfactory, according to criteria set forth by LiteForex in LiteForex's sole discretion, LiteForex will terminate this Agreement.
10. Modification: At any time and in LiteForex's sole discretion, LiteForex may modify any of the terms and conditions contained in this Agreement, with or without notice to the Affiliate, by posting such changes on the LiteForex Portal. The Affiliate is responsible for regularly reviewing these terms and conditions for any modifications and agrees to be bound by the same. IF ANY MODIFICATION IS UNACCEPTABLE TO THE AFFILIATE, THE AFFILIATE'S ONLY RECOURSE IS TO TERMINATE THIS AGREEMENT. THE AFFILIATE'S CONTINUED PARTICIPATION IN THE PROGRAM FOLLOWING ANY MODIFICATION OF THIS AGREEMENT WILL CONSTITUTE BINDING ACCEPTANCE OF THE MODIFICATION.
11. Disclaimer: UNDER NO CIRCUMSTANCES WILL LITEFOREX BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES ARISING FROM ANY PROVISION OF THIS AGREEMENT. WITHOUT LIMITING THE FOREGOING, LITEFOREX'S AGGREGATE LIABILITY ARISING WITH RESPECT TO THIS AGREEMENT WILL NOT EXCEED 5% OF THE TOTAL COMMISSIONS PAID OR PAYABLE TO THE AFFILIATE UNDER THIS AGREEMENT.
12. Limitation of Liability: If the person entering into this Agreement is acting on behalf of his or her company, such person represents to LiteForex that he or she has all requisite corporate power and authority to enter into this Agreement on behalf of the Affiliate, that this Agreement has been duly authorized by the Affiliate and that this Agreement will constitute the legal, valid and binding obligation of the Affiliate. Such person hereby agrees to indemnify and hold LiteForex harmless from any and all claims, damages and expenses (including, without limitation to, attorneys' fees) arising from any breach of this Section.
13. Authority: If the person entering into this Agreement is acting on behalf of
his or her company, such person represents to LiteForex that he or she has all
requisite corporate power and authority to enter into this Agreement on behalf
of Affiliate, that this Agreement has been duly authorized by Affiliate and that
this Agreement will constitute the legal, valid and binding obligation of
Affiliate. Such person hereby agrees to indemnify and hold LiteForex harmless
from any and all claims, damages and expenses (including, without limitation,
attorneys' fees) arising from any breach of this Section.
14. Miscellaneous:Both parties hereby submit to the jurisdiction of the courts in the Seychelles. This Agreement shall be interpreted in accordance with the laws of the Seychelles without reference to conflicts of laws, provisions, and any legal proceeding arising out of this Agreement will occur within the geographical location LiteForex chooses, at its sole discretion. This Agreement will be binding on and will inure to the benefit of the legal representatives, successors and valid assigns of the parties hereto. This Agreement contains the entire agreement between LiteForex and the Affiliate with respect to the subject matter hereof, and supersedes all prior and / or contemporaneous agreements or understandings, written or oral, between LiteForex and the Affiliate with respect to the subject matter hereof. The Affiliate may not assign all or any part of this Agreement without LiteForex's prior written consent. If one or more provisions of this Agreement are held to be unenforceable under applicable law, then such provision(s) shall be excluded from this Agreement, and the balance of the Agreement shall be enforceable in accordance with its terms.
15. Notice: Any notice or other communication to be given hereunder will be in
writing and given by facsimile, postpaid registered or certified mail return
receipt requested, or electronic mail. The date of receipt shall be deemed the
date on which such notice is given. Notice hereunder will be directed to the
parties at their respective e-mail addresses.
ADDITIONAL DISCLAIMERS
a) No Churning: The Affiliate agrees and acknowledges that the Program provided by LiteForex to the Affiliate hereunder prohibits the practice commonly known as "churning" ("Churning"). Churning is the practice of executing trades through a misrepresented Affiliate-Driven New Client account and / or for benefit of a misrepresented Affiliate account in order to generate Commissions. In the event of the Affiliate employs the Churning practice, the Affiliate agrees and acknowledges that LiteForex may in LiteForex's sole discretion take one or more, or any portion of, the following actions: (i) close the Affiliate's account; (ii) suspend the Affiliate's account for an indefinite period of time; (iii) carry out an investigation on the Affiliate's account for an indefinite period of time; (iv) charge a penalty fee to the Affiliate in the same or greater amount of money that resulted from usage of Churning practice.
b) Related Trader: The Affiliate agrees and acknowledges that LiteForex may remove an Affiliate-Driven New Client ("Related Trader") from the Affiliate's group of Affiliate-Driven New Clients and stop considering the Related Trader as an Affiliate-Driven New Client for purposes of this Agreement, in the following cases: (i) The related Trader accesses LiteForex's services using the same computer as the Affiliate; (ii) The related Trader is a close relative of the Affiliate; (iii) The related Trader is creating an excessive number of Closed Market Positions generating unusually high Commissions for the Affiliate; (iv) The related Trader is in breach of LiteForex's Service Agreement.
c) Zero Activity: The Affiliate agrees and acknowledges that LiteForex shall terminate this Agreement without notice if ninety (90) days after this Agreement commenced the Affiliate does not have at least one (1) Affiliate-Driven New Client. LiteForex shall consider that the Affiliate abandons the Affiliate's account and such Affiliate's account shall be deleted.
d) Anti-Spam policy: The Affiliate agrees and acknowledges that any engagement in any form of unsolicited marketing commonly known as spamming is prohibited on LiteForex. Spamming consists of but not exclusively to sending unsolicited e-mails, chat messages, ICQ. In the event that the Affiliate employs the Spamming or Cheating practice, the Affiliate agrees and acknowledges that LiteForex may at LiteForex's sole discretion take one or more, or any portion of, the following actions: (i) close the Affiliate's account; (ii) suspend the Affiliate's account for an indefinite period of time; (iii) carry out an investigation on the Affiliate's account for an indefinite period of time; (iv) charge a penalty fee to the Affiliate in the same or greater amount of money that resulted from usage of the Spamming practice.
At LiteForex we take pride in our reputation and we work hard to maintain a respectable presence on the internet. Thus Spamming and other illegal advertising are not tolerated and we reserve the right to decide on the outcome of any Affiliate’s account, which we may close or suspend without prior notice.
REMEMBER: LITEFOREX HAS ZERO TOLERENCE FOR SPAM.