SOFTWARE LICENSE AGREEMENT This software is licensed to you by Ronin Software ("Publisher" herein) for use on a single computer. Copying restrictions on this software depend on whether you are using the evaluation (shareware) or a copy of the Registered (Commercial) Version that you have purchased from the Author or an authorized distributor, and are as follows: REGISTERED (COMMERCIAL) VERSION. You may copy the commercial (registered, paid) version of this software for archive purposes, to protect your investment. Once it is installed, any subsequent attempt to install the Evaluation (Shareware) Version on your computer is a violation of this license and will terminate your license to use the Registered Version. EVALUATION (SHAREWARE) VERSION. You may freely make and distribute copies of the evaluation (shareware) version of this software, provided that you may not sell the evaluation copy, and if you include it on any shareware CD compilation, or make it available on the Internet or in connection with any commercial activity or enterprise, you must disclose that it is shareware and that the product is not free. Installing the Evaluation (Shareware) Version on a computer system on which you have previously installed the registered version is a violation of this license and will terminate your license to use the Registered Version. This software is protected by U.S. and international copyright law and cannot be copied or otherwise used on more than one computer by more than one person at the same time without violating the law, other than pursuant to a site license from Publisher. Site licenses may be purchased from Publisher. Giving or otherwise transferring all of your rights to the software to someone else will not violate copyright law, if you give all of the software and documentation (including this license) to that person. Remember, once you transfer your rights, you cannot continue to use the software or keep any copies of the software. MORE USERS To use this software on more than one computer you can purchase additional software for each computer. OTHER LIMITS ON YOUR USE Except as described in this license, you may not transfer, rent, lease, lend, copy, modify, translate, sublicense, time-share, electronically transmit or receive, or decompile or reverse engineer this software or the media and documentation. Publisher does not allow inclusion of any type of ADWARE, SPYWARE, or OTHER THIRD- PARTY SOFTWARE PRODUCTS with this product. Addition of any such adware, spyware or other other third-party software products to this product is strictly prohibited and any individual, corporation or other entity that attaches or adds any such adware, spyware or third-party software to this product will be prosecuted to the full extent of the copyright law and other applicable laws, including but not limited to contract, tort, and criminal laws. SITE LICENSES FOR EDUCATIONAL USE Educational institutions, including all levels from home school to graduate schools, may obtain an inexpensive 5-year site license from Publisher to reproduce the Registered Version of Speculator: The Stock Trading Simulation ("Speculator" herein) for use by their students. Site Licensees may make copies for their students, but may not sell copies of the software or make it available on a web site that is accessible by other than students and faculty of the institution. Contact Publisher for details, pricing, and to obtain a site license agreement. LIMITED WARRANTY The media for this product, if any, provided by Publisher are guaranteed to be free of defects in materials and workmanship for 120 days from the date this product was originally purchased. If a defect occurs within this 120-day period, simply notify Publisher along with a dated proof of purchase, and Publisher will replace it free of charge. Publisher makes no representation or warranty regarding the content of this product, including its software and documentation. For example, Publisher does not warrant that the software or documentation are "error-free" or will meet the needs and requirements of a particular user. All information in the software and documentation is subject to change without notice. In addition, Publisher makes no representation or warranty regarding products, media, software or documentation manufactured or supplied by others. All other warranties, representations, conditions, express or implied, including any implied warranty or condition of merchantibility or fitness for a particular purpose are disclaimed by Publisher. All other implied terms are excluded. LIMITATION OF LIABILITY The only remedy under this limited warranty or guarantee is replacement of the defective media or refund of the actual amount paid. Publisher disclaims any liability for damages arising from the use of this product or any other damages, including (though not limited to) lost profits or data, special, incidental, or other claims, even if Publisher has been specifically advised of the possibility of such claims. Regardless of the form of the claim, the only liability Publisher will have to you or any other person will be limited to the amount actually paid for the product. MISCELLANEOUS This license and limited warranty can only be modified in writing signed by you and an authorized officer of Publisher. If any part or provision is found to be unenforceable or void, the remainder shall be valid and enforceable. If any remedy provided is determined to have failed of its essential purpose, all limitations of liability and exclusions of damages shall remain in effect. Use, duplication or disclosure of this software and documentation by the U.S. Government is subject to the restricted rights applicable to commercial computer software (under FAR 52.227-19 and DFARS 252.227-7013). Sale of this software is subject to the U.S. Commerce Department export restrictions. This software is intended for use in the country in which Publisher sold it (or the EEC if first sold in the EEC). This license and limited warranty shall be construed under the laws of the State of Utah in the United States. You have specific legal rights under this document, and you may have other rights that vary from state to state and country to country. Publisher reserves all rights not specifically granted. Publisher may have patents and/or pending patent applications covering subject matter in this document. The furnishing of this document does not give you any license to these patents.