THIS IS A LEGAL AGREEMENT BETWEEN YOU AND NETWORK FOR TEACHING ENTREPRENEURSHIP, INC. ("NFTE") in connection with your use of NFTE's proprietary products and services, including but not limited to the innovation.nfte.com website (collectively "the Services"), to create a business plan and participate in a marketplace of business ideas, and other features of the Services, as set forth in this Agreement.

BEFORE DOWNLOADING OR UPLOADING ANY CONTENT FROM OR TO NFTE'S SERVICES, YOU SHOULD READ THIS AGREEMENT CAREFULLY. BY DOWNLOADING OR UPLOADING ANY CONTENT FROM OR TO NFTE'S SERVICES, AND FOR OTHER GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH YOU ACKNOWLEDGE, YOU ARE AGREEING TO BE BOUND BY THE TERMS OF THIS AGREEMENT.

YOU MAY USE THIS SERVICE IF YOU ARE AT LEAST 11 YEARS OF AGE. HOWEVER, YOU MUST BE AT LEAST 18 YEARS OLD TO ENTER INTO THIS AGREEMENT. IF YOU ARE UNDER 18 YEARS OLD, YOU MUST HAVE A PARENT OR LEGAL GUARDIAN CAREFULLY READ AND ENTER INTO THIS AGREEMENT ON YOUR BEHALF.

By submitting an idea, each team member acknowledges that he/she has read and hereby agrees to the rules and regulations of this challenge as listed here.

ELIGIBILITY: Any team of one, two, three, or four young people ages 11 to 24 (at least 11 years old but no more than 24 years ) can participate. It's completely free to participate and participants do not need to be U.S. citizens.

DEADLINE FOR SUBMISSIONS: The submission period for the first round of competition opens at 9:00am Eastern Time (ET) on September 13, 2023 and closes at 11:59pm Eastern Time (ET) on December 10, 2023. Entries must be submitted via the online entry form and this can be done at any time during the submission period as long as entries are received no later than 11:59pm Eastern Time (ET) on December 10 2023. Late or incomplete entries will not be accepted. There is an additional submission period for the final round of competition, but this only involves teams that have been selected to advance to the final round: the "Top Ten" teams in each category (Finalists). Finalists are asked to record video pitches in support of their entries and upload them to the competition website during the final round submission period. The final round submission period opens at 9:00am on February 9, 2024 and closes at 11:59pm Eastern Time (ET) on February 24, 2024.

SELECTION OF FINALISTS: Submissions will be reviewed and scored by a panel of judges. The judges' scores determine the top ten entries in each challenge category. The teams submitting those entries are named finalists and advance to a final round of judging after submission of a supporting video. Entries will be evaluated by judges based on criteria including:

• Innovative idea for a product, service, or initiative relevant to the category entered
• Clear and convincing description of the product, service, or initiative
• Meaningful description of target market for the product, service, or initiative
• Marketable name for the product, service, or initiative
• Plausible identification of market opportunity and competitive advantage

The judges' decisions are final, including interpretation of the rules. Participants may not make appeals or complaints against the judges, organizers, or sponsors of the Challenge.

SELECTION OF WINNERS: The top ten (10) finalists in each category will be selected by a panel of judges, then finalists will be asked to submit a one-minute video. Judges from the sponsoring organizations will then score entries including videos to determine the top three finishers in each category. Cash prizes are awarded to the 1st place, 2nd place and 3rd place winners in each challenge category.

By entering the challenge and/or accepting a prize at any level, participants grant permission to sponsors and their agencies to use winners' names and/or likenesses for advertising and/or trade purposes without further compensation unless prohibited by law.

All federal, state and local taxes are the sole responsibility of winners. All federal, state and local laws and regulations apply. The winnings are non-transferable.

Winners must be available for publicity and promotional purposes during and for a reasonable period after the Challenge competition, including media interviews with newspapers, radio and TV. NFTE and Challenge sponsors may provide the media with each winner's details, photographs and/or video footage for publication or broadcast.

INTELLECTUAL PROPERTY RIGHTS: All Submitters retain ownership of all intellectual and industrial property rights (including moral rights) in their Submissions, including their videos.

Definitions. "Submission" means an entry consisting of the original beverage concept material submitted to the Challenge submitted by the Submitter. "Developer IP" means any and all Intellectual Property contained or embodied in the Submission. "Intellectual Property" means copyrights, design rights, patents, designs, registered designs, trade marks, service marks (or an application for any of these), inventions (whether patentable or not), invention disclosures, discoveries, improvements, processes, test and qualification processes, schematics, specifications, formulae, procedures, proprietary information, know-how, technology, trade secrets, technical data, works of authorship (whether copyrightable or not), mask works, software (in source code and object code forms), databases, data collections and documentation and all copies and tangible embodiments of any of the foregoing throughout the world in whatever form or medium.

Representations and Warranties Regarding Third Party IP. The Submitter represents and warrants to Sponsors and Organizer that Submitter has not submitted any Submission that infringes any third party proprietary rights, intellectual property rights, industrial property rights, personal or moral rights or any other rights, including without limitation, copyright, trademark, patent, trade secret, rights of privacy or publicity, or confidentiality obligations of another.

Representations and Warranties Regarding Developer IP. Submitter represents and warrants that the Submission including all content and material used in the Submission is the original work of the Submitter and that Submitter is the sole owner of all copyright and other Intellectual Property in the Submission.

Other Representations and Warranties. Submitter represents and warrants that:

1. The Submission does not violate applicable U.S. law or the law of the Submitter's country of residence; and
2. The Submission has not been entered in previous contests or won previous awards; and
3. The Submission has not been published or distributed previously in any media; and
4. The Submission does not contain any claims that are not and cannot be substantiated or that would be false and/or misleading to a reasonable consumer.

RELEASE: To the maximum extent permitted by the law, the Submitter hereby releases, waives and forever discharges Sponsors and Organizer and any and all of their respective affiliates, officers, employees, members or agents of and from any and all claims, obligations, debts, causes of action, and liabilities whatsoever, wheresoever arising, of every name and nature, both in law and in equity, which the Submitter ever had or may later have in relation to the World Series of Innovation or Submitters participation in the World Series of Innovation.

CONSENT: The Submitter hereby consents to use of the Submitter's name, images, photo, city, state, likeness, Submission and prize information worldwide, in perpetuity, for all purposes (including advertising, marketing, promotion, in any media outlet including wireless/mobile devices and the exploitation of any and all ancillary and subsidiary rights) and the same may be edited, in all media now known or hereafter created, throughout the world, without limitation and without further payment or consideration, except where otherwise required by law. The Submitter additionally consents to the release of all Personal Data collected by the Organizer and the Organizer's agents, to the Sponsors.

INDEMNITY: To the maximum extent permitted by law, the Submitter agrees to defend, indemnify and hold harmless the Sponsors and the Organizer, and their affiliates and their respective directors, officers, employees and agents from and against any and all claims, actions, suits or proceedings, as well as any and all losses, liabilities, damages, costs and expenses (including reasonable attorneys' fees) arising out of or accruing from (a) any act, default or omission on the part of the Submitter; (b) Submitter's breach of any warranty set forth herein; (c) any material uploaded or otherwise provided by the Submitter that infringes any copyright, trademark, trade secret, trade dress, patent or other intellectual property right of any person or defames any person or violates their rights of publicity or privacy, (d) any misrepresentation made by the Submitter in connection with the Challenge; (e) any non-compliance by the Submitter with the Rules applicable to the Challenge; and (f) claims brought by persons or entities other than the parties to this Agreement arising from or related to the Submitter's involvement with the Challenge or use or acceptance of any prize or prize-related activity including any responsibility for travel or accommodation associated with the Challenge.

LIMITATION OF LIABILITY: With the exception of the prizes as described on the PRIZES page, the sponsors and organizer's liability for any and all claims arising in connection with this challenge, under any legal theory (including negligence and strict liability), shall not exceed one hundred dollars ($100). In no event shall the sponsor or the organizer be liable for any loss of data, lost profits, business interruption, or other special, incidental, consequential, punitive, indirect, or speculative damages under any legal theory (including negligence and strict liability).

EQUITABLE REMEDIES: The Submitter hereby acknowledges and agrees that any breach of this Agreement may not be adequately compensated by monetary damages. Accordingly, in the event of such a breach, the Submitter recognizes that Sponsors shall have the immediate right to secure an order from any competent court enjoining such breach, without posting bond or other security. This undertaking shall be enforceable without prejudice to any other rights or remedies that Sponsors may have at law or in equity.

WAIVER OF BREACH: The Submitter acknowledges that any failure by Sponsors to exercise any available rights at any time with respect to any breach shall not constitute a waiver of those rights with regard to that breach, or to any subsequent breach. The exercise of any right or remedy shall not exclude the current or subsequent exercise of any other available right or remedy. Any waiver by Sponsors must be in writing signed by Sponsors.

Last updated: September 8, 2023