Data & API License Schedule

• "Cached Data" — any copy of Valuein Data stored outside the Service, including files, databases, dataframes, vector stores, caches and model contexts.
• "Derived Work" — output you create from Valuein Data that does not let a recipient reconstruct a substantial part of Valuein Data. Examples include:
  • research results, conclusions and written analysis;
  • model specifications, features, parameters and trained weights;
  • signals, scores, factor values and rankings you compute;
  • backtest results and performance statistics;
  • risk and attribution reports;
  • audit and validation records;
  • charts of your own derived metrics;
  • investment decisions and their outcomes.
• "Display" — showing Valuein Data to anyone who does not hold a Seat, in any medium, including a website, app, dashboard, report, presentation, feed or AI-agent response.
• "EDGAR-Derived Data" — Valuein Data derived from filings on the SEC's EDGAR system, together with Valuein's selection, arrangement, standardisation, mappings and calculations applied to them.
• "Enterprise Agreement" — a signed agreement for an organisation and its team: a Master Subscription Agreement with one or more Order Forms. It covers multi-seat use of the whole dataset across the organisation and, where the Order Form says so, Display in the organisation's own products and in client deliverables, with attribution. It does not include Redistribution.
• "Insubstantial Excerpt" — a limited number of individual EDGAR-Derived Data values that meets all of these conditions:
  • no more than 50 values in any one work;
  • quoted within your own analysis or commentary;
  • attributed "Source: Valuein (valuein.biz)";
  • not a substitute for the Service;
  • cannot reasonably be used to reconstruct any table, time series or dataset.

Market Data is never an Insubstantial Excerpt (see §8).

• "Internal Use" — use by a Seat holder for that Seat holder's own research, analysis, models, investment decisions and internal work product. This includes work for an organisation that employs the Seat holder, if every person who sees Valuein Data holds a Seat.
• "Market Data" — historical security price, volume and related trading records licensed to Valuein by third-party vendors, and any field computed from them.
• "Model Training" — training, fine-tuning, pre-training or distilling a model, or creating embeddings, vector stores, or evaluation or benchmark datasets, from Valuein Data, for:
  • any general-purpose model; or
  • any model or system that is made available to third parties or that substitutes for the Service.
• "Redistribution" — giving, selling, licensing or otherwise making Valuein Data or Service responses available to any third party, in any form, including through an API, file, feed, database, model or AI agent.
• "Redistribution Licence" — a separate signed licence for data vendors and platforms that permits Redistribution of Valuein Data: passing raw or bulk data to third parties, reselling it, or white-labelling it. No Plan includes Redistribution, including Enterprise.

Other capitalised terms are defined in the Terms.

While your Plan is active and you comply with the Terms, Valuein grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable licence to access the Service and use Valuein Data within the rights for your Plan in §3. All other rights are reserved. Valuein's rights in EDGAR-Derived Data are limited to what §10 describes.

Export controls and sanctions. The licence does not extend to a Restricted Party, to anyone in a place described in Terms §28.2(a), or to a use described in Terms §28.2(c), and you may not give or show Valuein Data (including Cached Data) to any of them. Whenever you pass Valuein Data on, as an Enterprise Agreement, a Redistribution Licence or this Schedule allows, you will first screen the recipient as Terms §28.4 requires. You will also bind the recipient in writing to this restriction and to the same screening and flow-down duty, so that it passes on to each further recipient. You remain responsible for any recipient's breach.

Seats and Agents. Every person who sees Valuein Data under Internal Use holds a Seat. Agents may act only for the single human Seat holder who controls them (Terms §5).

No transition period. On every self-serve Plan, including Institutional, Display and client deliverables beyond Insubstantial Excerpts require an Enterprise Agreement, and Redistribution, resale and white-label use require a Redistribution Licence. No earlier Plan, paid term or Data License Agreement carries those rights forward.

Enterprise Agreement and Redistribution Licence. Pro and Institutional are single-seat internal-use Plans. Multi-seat use across your organisation, and Display in your organisation's own products and client deliverables with attribution, need an Enterprise Agreement whose Order Form says so. Passing Valuein Data on to third parties, reselling it or white-labelling it needs a separate Redistribution Licence; no Plan includes Redistribution, including Enterprise. Training a model others will use needs an Enterprise Agreement or a Redistribution Licence that expressly permits it. Contact sales@valuein.biz.

Every Plan may:

• Work locally. Download, cache and query Valuein Data locally while your Plan is active, including as Parquet, Arrow, DuckDB or a dataframe, for your own point-in-time research, backtests and AI-assisted analysis. This is the intended way to use the data, not a tolerated exception.
• Build your own models. Research, train, validate, backtest and run your own quantitative, factor, risk and machine-learning models and strategies on Valuein Data for Internal Use, and act on their outputs, including to manage your own or your clients' money. You may not distribute the Valuein Data inside them.
• Use AI at query time. Let the Workspace AI Features, or your own AI model through the MCP Server or SDK, read Valuein Data at query time to answer your questions. That is not Model Training.
• Quote. Publish Insubstantial Excerpts with attribution.
• Keep your Derived Work. Own, keep, publish and commercialise your Derived Work, forever, including after your Plan ends. Published Derived Work in which Valuein is a material source credits "Source: Valuein (valuein.biz)".

Unless an Enterprise Agreement or a Redistribution Licence expressly allows it, you may not:

• (a) Display Valuein Data beyond Insubstantial Excerpts; an Enterprise Agreement can allow Display in your organisation's own products and client deliverables, with attribution, where its Order Form says so;
• (b) Redistribute Valuein Data, including passing it to others through an API, feed, file, database or dataset, reselling it or white-labelling it; only a Redistribution Licence can allow this, and no Plan includes it, including Enterprise;
• (c) carry out Model Training;
• (d) use Valuein Data as a primary or substantial input to an index, benchmark or investable product;
• (e) use Valuein Data to build or improve a financial-data aggregation, normalisation or distribution product that competes with the Service;
• (f) keep Cached Data after the period in §9.

Where you publish Insubstantial Excerpts or Derived Work in which Valuein is a material source, credit "Source: Valuein (valuein.biz)" where readers will see it:

• Reports: in a footnote or the data-sources section.
• Dashboards and apps: in a visible footer or an "About the data" panel.
• Social posts: in the post itself.
• Academic work: in the references, with the date you accessed the data.

S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC; Russell® indexes are trademarks of FTSE Russell; Nasdaq-100® is a trademark of Nasdaq, Inc. Valuein is not affiliated with, sponsored, endorsed or licensed by any index provider.

Valuein's index membership data (the index_membership table and any field or filter derived from it) is reconstructed independently by Valuein from public sources: publicly available constituent lists, public reports of index changes, the portfolio holdings disclosed by funds that track each index (on their websites and in their filings with the U.S. Securities and Exchange Commission), and other filings made with the SEC. Valuein does not receive, license or redistribute index constituent data from any index provider.

Membership dates are Valuein's best reconstruction and may differ from an index provider's official records; recent changes may be revised as later disclosures arrive, and no row records an index provider's announcement date. Customers who need official constituent data for benchmarking, fund administration or other licensed uses should obtain it directly from the index provider.

8.1 Different in kind. Market Data is not derived from SEC filings and is not public-domain material. It is licensed to Valuein by third-party vendors. We claim no rights in the raw price series themselves.

8.2 Your rights depend on our upstream licence. You receive Market Data only to the extent Valuein's upstream licence permits. Within that limit, Pro and Institutional subscribers may use Market Data for Internal Use, including research, modelling and backtesting. On Sample and Benchmark, you receive only measures derived from Market Data, such as valuation multiples, and coarse period-end and month-end observations.

8.3 No reproduction. You may not Display, Redistribute or reproduce Market Data, or build a price feed, price-history service or price dataset from it, on any Plan. You may publish conclusions that do not reproduce a price series. An Enterprise Agreement or a Redistribution Licence can grant more only if the vendor has cleared it.

8.4 Not for execution or valuation of record. Market Data is indicative, not real-time, and not an official exchange feed. Do not use it for trade execution, order routing, client statements, NAV, valuations of record, margin, or regulatory filings. Exchange and vendor obligations that apply to your own use are your responsibility.

8.5 Change. If an upstream licence requires it, we may restrict or withdraw Market Data for some or all Plans, with as much notice as that licence allows. EDGAR-Derived Data is not affected.

9.1 While active. You may keep Cached Data while your Plan is active. Do not use it to keep a persistent mirror for anyone other than your Seat holders.

9.2 After your Plan ends. Within 30 days after your paid Plan ends, or after your Account ends, whichever comes first, you will either delete the Cached Data you obtained under that Plan or permanently stop accessing it. That includes downloaded Parquet files, databases built from them, and vector stores. You may keep it longer only to comply with a legal or regulatory record-keeping duty, and only for that purpose. If you move to a free Plan, you may keep Cached Data within that free Plan's coverage.

9.3 Certification. On request, you will confirm in writing within 10 business days that you have complied with §9.2.

9.4 What you keep. Your Derived Work. It is not Cached Data, even if it was built from Cached Data.

9.5 Display after the end. A chart or report created from Valuein Data during your Plan may continue to exist as Derived Work. You may not refresh it with Valuein Data obtained after your Plan ends.

10.1 Public filings. Filings on SEC EDGAR are public. Anyone may obtain them directly from the SEC. This Schedule does not restrict your independent use of filings or facts you obtain from the SEC or other lawful sources.

10.2 Our compilation and work. We claim rights in:

• the selection, arrangement and coordination of Valuein Data;
• our standardisation, taxonomy and concept mappings;
• point-in-time timestamps design, amendment and restatement tracking;
• quarterly derivations;
• entity and security-identifier mappings with validity windows;
• provenance hashes;
• validation rules;
• schemas, software and Documentation.

We also claim trade-secret protection for our non-public methods.

10.3 What the restrictions protect. The restrictions in this Schedule govern your access to the Service and your use of what you obtain through it. They are a condition of that access and its technical measures. They do not claim ownership of facts.

10.4 Identifiers and marks.

• Security identifiers: our security reference data uses FIGI, an open standard (OpenFIGI, MIT licence). We do not publish CUSIP, CINS or ISIN values. If you need those, licence them from their administrators.
• Index membership: our index-membership records are our own derivation from public sources. No index provider sponsors, endorses or licenses them.

11.1 What we use. Access to Valuein Data is protected by authentication, Credentials tied to one Account, rate limits, quotas and download controls.

11.2 Envelope identifiers. Authenticated responses, and files delivered through the Bulk API gateway, may carry a per-account envelope identifier in response headers or file metadata. It is a non-numeric code derived from your Account, the dataset and the period, used to trace copies of Valuein Data. It never changes a data value, a row or row order.

11.3 Do not interfere. Do not remove, alter or obscure envelope identifiers, attribution metadata or technical measures in Valuein Data you hold or share.

12.1 Acceptance timestamps. Every fact carries accepted_at, derived from the time the SEC's EDGAR system accepted the filing that reported it. It is the SEC's timestamp, not our processing time, and we do not edit it in place: a correction is a reprocessing under §12.4. Where EDGAR publishes only a date, or an older stamp needs time-zone normalisation, accepted_at is the later, conservative bound and the row's precision and source fields say so. Derived rows carry the latest accepted_at of their inputs, and Market Data rows carry the market close. Filtering on accepted_at reconstructs what had been filed by a given moment.

12.2 Amendments and restatements. When an issuer amends or restates a value, we do not overwrite the earlier record. Each value keeps the acceptance time of the filing that reported it. We carry the as-first-filed value and the latest value side by side.

12.3 Coverage.

• Pro and Institutional: include delisted, bankrupt and merged companies.
• Sample and Benchmark: cover the large-cap US benchmark universe within each Plan's history window, as the pricing page describes. That universe includes companies that later left the index: every company with a membership spell in the covered years is included, so these Plans support survivorship-bias-free research on that universe. The full SEC universe, including delisted companies, is on the paid Plans.

12.4 Reprocessing. We may reprocess historical data to correct our own extraction or derivation. Reprocessing creates a new snapshot, visible as a new snapshot date and, where the schema changes, a new schema version in the manifest served with each Plan's data. It is not an issuer restatement and never changes an acceptance timestamp.

12.5 No warranty of accuracy. We do not warrant that Valuein Data is free of errors. Filings themselves can be wrong. Verify any figure that matters to an investment, trading, regulatory, tax or business decision against the original filing on EDGAR (Terms §20).

13.1 Compliance checks. On reasonable written request, and no more than once in any 12 months unless we have reasonable grounds to suspect a breach, you will tell us in writing how you use Valuein Data and confirm your compliance with this Schedule. Audits of records and systems apply only under an Enterprise Agreement or a Redistribution Licence.

13.2 If you exceed your rights. If you Display, Redistribute or carry out Model Training without the Enterprise Agreement or Redistribution Licence this Schedule requires:

• you will stop immediately;
• you will pay the fees that the Enterprise Agreement or Redistribution Licence covering that use would have charged for the period of the unlicensed use, at our then-current rates;
• if you are a Business User, you will reimburse our reasonable costs of investigating and enforcing, including reasonable legal fees.

13.3 Injunctions. Unlicensed Display, Redistribution or Model Training, or circumventing technical measures, may cause harm that money cannot fully repair. We may seek an injunction in court under Terms §25.3(b), without posting a bond where the court permits. This is in addition to suspension or termination under Terms §23.

Changes to this Schedule follow Terms §24.2: 30 days' notice and re-acceptance for material changes. Changes never apply retroactively.