HOLDOUT LAB END USER LICENSE AGREEMENT

Copyright (c) 2026 Cameron Gordon. All rights reserved.

This agreement governs your use of the Holdout Lab software — the Docker
images, the downloadable Compose bundle, and the accompanying documentation
(together, the "Software"). By downloading, installing, or running the
Software you agree to these terms. If you do not agree, do not use the
Software.

1. LICENSE GRANT. You are granted a free, non-exclusive, non-transferable
   license to download, install, and run the Software on machines you
   control, for your own personal, non-commercial research and education.

2. RESTRICTIONS. You may not, except with prior written permission:
   (a) redistribute, publish, sell, rent, lease, or sublicense the Software
       or make it available to third parties, including as a hosted or
       managed service;
   (b) remove or alter copyright, license, or attribution notices; or
   (c) misrepresent the origin of the Software.

3. THIRD-PARTY SOFTWARE. The Software includes third-party components under
   their own licenses, listed in THIRD-PARTY-NOTICES.md (including
   components under the GNU LGPL v3). Those licenses govern the respective
   components, and NOTHING IN THIS AGREEMENT LIMITS THE RIGHTS THEY GRANT
   YOU. Your use of Interactive Brokers' API components and of any data
   vendor or AI provider you connect (e.g. Interactive Brokers, Tiingo,
   Databento, Anthropic) is additionally governed by your own agreements
   with those parties.

4. YOUR DATA AND CREDENTIALS. The Software runs on your machine; the
   accounts, API keys, and data you use with it are yours and remain your
   responsibility, including their security and their providers' terms.

5. NOT INVESTMENT ADVICE. The Software is research and education software.
   It is not financial, investment, or trading advice, and the copyright
   holder is not a broker-dealer or investment adviser. Backtested and
   simulated (paper) results do not predict real trading results. Trading
   involves substantial risk of loss. Any trading decisions you make are
   yours alone.

6. UPDATES. Updated versions may be made available from time to time under
   these terms (or updated terms accompanying the new version). There is no
   obligation to provide updates or support.

7. TERMINATION. This license ends automatically if you breach it. Upon
   termination you must stop using the Software and delete your copies.
   Sections 3, 5, 8, and 9 survive termination.

8. NO WARRANTY. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY
   KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF
   MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, AND
   NONINFRINGEMENT.

9. LIMITATION OF LIABILITY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO
   EVENT SHALL THE COPYRIGHT HOLDER BE LIABLE FOR ANY CLAIM, DAMAGES, OR
   OTHER LIABILITY — INCLUDING ANY TRADING LOSSES, LOST PROFITS, LOST DATA,
   OR INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES — ARISING FROM
   OR IN CONNECTION WITH THE SOFTWARE OR ITS USE.

10. GOVERNING LAW. This agreement is governed by the laws of the United
    States and of the state in which the copyright holder resides, without
    regard to conflict-of-laws rules.

Questions and permission requests: support@holdoutlab.com
