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Refund Policy

STENO, LLC

END USER LICENSE AND SUBSCRIPTION AGREEMENT

Effective Date: 09/05/2026

This End User License and Subscription Agreement (this “Agreement”) is a binding agreement between Steno, LLC, a Pennsylvania limited liability company (“Steno,” “we,” “us,” or “our”), and the individual financial professional in whose name the subscription is purchased (“you” or “Subscriber”). This Agreement is accepted by checking the acceptance box at checkout. If the person completing checkout is not the Subscriber (for example, an administrative assistant purchasing on the Subscriber’s behalf), that person represents that they are authorized to accept this Agreement on the Subscriber’s behalf, and this Agreement binds the Subscriber upon acceptance. If you do not agree to this Agreement, do not complete your purchase or use the Software.

Every subscription must be held in the name of the financial professional who will hold the Advisor Seat. You represent that the subscription is purchased in connection with your work as a financial professional. If you use the Software to conduct business for or under an advisory firm, broker-dealer, or similar entity, you represent that you are authorized to accept this Agreement in connection with that work, and you agree that the restrictions and responsibilities in this Agreement apply to your use of the Software in that capacity. This Agreement incorporates by reference the Steno Website Terms of Service and Privacy Policy. If this Agreement conflicts with the Terms of Service with respect to the Software or your subscription, this Agreement controls.

1. Definitions

  • “Software” means the Steno desktop software application for automated form filling, in object code form, together with its documentation and all updates provided under this Agreement.
  • “Seat” means the right of one named individual to install and use the Software as described in Section 2. Each subscription includes one Advisor Seat for you and, at your option and at no additional charge, one Administrative Assistant Seat for one named administrative assistant who supports your work.
  • “Subscription Year” means each annual period of your subscription, beginning on the date of purchase or renewal.
  • “Subscription Month” means each successive one-month period within a Subscription Year, measured from the monthly anniversary of the start of that Subscription Year.
  • “Form Data” means information entered into or imported into the Software by a Seat holder, including any personal or financial information of the Subscriber’s clients, and any form output the Software produces from it.

2. License Grant

Subject to your timely payment of subscription fees and your compliance with this Agreement, Steno grants you a limited, non-exclusive, non-transferable, non-sublicensable license during your subscription to install and use the Software, solely for your own internal business purposes, by the named holder of each Seat. Each Seat holder may install the Software on computers used solely by that Seat holder. The Administrative Assistant Seat may be assigned to one named individual at a time; you may reassign it to a replacement assistant by notifying Steno. The Software is licensed, not sold, and Steno reserves all rights not expressly granted.

3. License Restrictions

You will not, and will not permit anyone else to:

  • Share, rent, lease, lend, sell, sublicense, distribute, or transfer the Software, any Seat, or your license credentials to any person other than the named Seat holders;
  • Use the Software to process forms or provide services for or on behalf of any person other than you, your advisory firm, and your own clients, or otherwise operate the Software as a service bureau;
  • Copy the Software except as reasonably necessary for installation and one backup copy;
  • Reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code, structure, or algorithms of the Software, except to the extent this restriction is prohibited by applicable law;
  • Modify the Software or create derivative works of it;
  • Circumvent, disable, or interfere with license verification or any other technical protection measure in the Software;
  • Develop, commission, or assist any third party in developing a product or service that replicates or competes with the Software using knowledge of the Software’s interface, workflows, or functionality gained through your access to it; or
  • Publish or disclose any performance benchmarks or reviews of non-public features of the Software without Steno’s prior written consent.

4. Updates

Your subscription includes updates, upgrades, and bug fixes to the Software that Steno makes generally available to subscribers, at no additional charge. Steno may require that you install an update to continue using the Software, and the Software may cease to function until a required update is installed. Steno may modify, add, or remove features of the Software, provided that Steno will not materially reduce the core form-filling functionality of the Software during a Subscription Year you have paid for.

5. License Verification; Data Practices

The Software communicates with Steno’s systems to verify that your license is valid and current, and transmits limited usage reports and error reports as described in the Privacy Policy. The Software requires periodic license verification to operate, and Steno may remotely disable the Software for non-payment or for material breach of this Agreement as provided in Sections 7 and 13.

Form Data remains on the Seat holder’s computer at all times. Form Data is never transmitted to, stored by, or accessible to Steno, and usage and error reports do not include Form Data. As between you and Steno, you own all Form Data and are solely responsible for it, including obtaining any consents required to use your clients’ information and complying with all privacy and recordkeeping obligations that apply to you or your firm.

6. Fees; Billing; Automatic Renewal

Subscription fees are billed annually in advance at the rate displayed at checkout, plus applicable taxes. By completing the letter of authorization in the payment portal, you authorize Steno, through its payment processor, to charge your designated credit card or bank account on a recurring basis.

YOUR SUBSCRIPTION RENEWS AUTOMATICALLY. At the end of each Subscription Year, your subscription will automatically renew for an additional Subscription Year, and your payment method will be charged the then-current annual fee, unless you cancel before the renewal date. Steno will send a renewal reminder to your account email address, including the renewal fee and instructions for cancelling, at least 15 and no more than 45 days before each annual renewal. You may cancel at any time through your online account or by emailing support@stenoautomation.com, as described in Section 7.

Steno may change the annual subscription fee by providing notice at least 30 days before the change takes effect. Fee changes apply beginning with your next renewal; your fee will not change during a Subscription Year you have already paid for.

If a renewal or other payment fails or is declined, the Software will be automatically disabled until payment is received. Upon receipt of payment, access will be restored. Steno is not responsible for any consequences of your inability to use the Software while it is disabled for non-payment.

7. Term; Cancellation; Refunds

This Agreement begins when you accept it at checkout and continues for the initial Subscription Year and each renewal Subscription Year until cancelled or terminated. You may cancel your subscription at any time through your online account or by emailing support@stenoautomation.com.

Seven-day money-back guarantee. If you cancel within 7 days after first purchasing your subscription, Steno will refund the full annual fee for that initial purchase.

Cancellation after the first 7 days. If you cancel at any other time, your cancellation takes effect at the end of the Subscription Month in which you cancel. You will retain access to the Software through the end of that Subscription Month, after which the Software will be disabled. Steno will refund the portion of the annual fee attributable to the full Subscription Months remaining in the Subscription Year after the effective date of cancellation, calculated at one-twelfth (1/12) of the annual fee per Subscription Month. Each Subscription Month that has begun, in whole or in part, is charged in full at one-twelfth of the annual fee and is not refundable. For clarity, if you cancel between day 8 and day 30 of the first Subscription Month, you will be charged one-twelfth of the annual fee and refunded the remaining eleven-twelfths.

Refunds are issued to the payment method on file. Upon the effective date of any cancellation or termination, your license ends, and you must uninstall the Software and cease all use of it.

8. Support

Your subscription includes email and telephone support for installation and use of the Software, available at support@stenoautomation.com and [SUPPORT PHONE NUMBER] during [SUPPORT HOURS]. Support does not include training in financial products, form selection, or regulatory requirements, and support communications do not constitute financial, legal, or compliance advice.

9. Limited Warranty; Exclusive Remedy

Steno warrants that the Software, when properly installed on a supported system, will perform materially in accordance with its documentation. Your sole and exclusive remedy, and Steno’s entire liability, for any breach of this warranty is that Steno will, at Steno’s sole option: (a) repair the Software; (b) replace the Software; or (c) terminate your subscription and refund the prorated portion of the annual fee for the full Subscription Months remaining in the Subscription Year, calculated as described in Section 7. The choice among these remedies belongs exclusively to Steno, and you may not require Steno to select any particular remedy. This warranty does not apply to problems caused by hardware or software not supplied by Steno, by your failure to install a required update, by modification of the Software, or by use of the Software contrary to this Agreement or its documentation.

EXCEPT FOR THE LIMITED WARRANTY STATED ABOVE, THE SOFTWARE IS PROVIDED “AS IS,” AND STENO DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND ANY WARRANTY THAT THE SOFTWARE WILL BE UNINTERRUPTED, ERROR-FREE, OR WILL PRODUCE ACCURATE OR COMPLETE FORM OUTPUT.

10. Your Responsibility for Forms and Compliance

The Software is a productivity tool that assists with filling forms. It does not select forms, verify the accuracy or completeness of Form Data, or determine the suitability of any form or its contents for any purpose. YOU ARE SOLELY RESPONSIBLE FOR REVIEWING EVERY FORM AND ALL OUTPUT PRODUCED BY THE SOFTWARE BEFORE IT IS USED, SIGNED, SUBMITTED, OR FILED, AND FOR THE ACCURACY, COMPLETENESS, AND SUITABILITY OF ALL FORM DATA. STENO HAS NO RESPONSIBILITY OR LIABILITY FOR ANY ERROR, OMISSION, OR INACCURACY IN ANY FORM OR FORM DATA, FOR ANY ACTION YOU OR ANY SEAT HOLDER TAKES OR FAILS TO TAKE IN RELIANCE ON THE SOFTWARE, OR FOR ANY CONSEQUENCE OF SUBMITTING OR FILING ANY FORM, INCLUDING REJECTION, PROCESSING DELAY, CLIENT LOSS, OR REGULATORY ACTION.

Steno is a software company. Steno is not a broker-dealer, investment adviser, insurance agency, accounting firm, or law firm, and nothing in the Software, its documentation, or Steno’s support communications constitutes financial, investment, insurance, legal, tax, or compliance advice. Steno is not affiliated with, sponsored by, or endorsed by any broker-dealer, custodian, or product sponsor whose forms the Software may support. Compliance with all requirements of FINRA, the SEC, state regulators, and your firm, including form approval, supervision, recordkeeping, and client consent requirements, is solely your responsibility.

11. Local Data; Backups

All Form Data and Software settings are stored locally on the Seat holder’s computer. You are solely responsible for backing up Form Data and any other data on your systems. STENO HAS NO LIABILITY FOR ANY LOSS, CORRUPTION, OR UNAVAILABILITY OF DATA STORED ON YOUR COMPUTERS OR SYSTEMS.

12. License Server Availability

Steno will use commercially reasonable efforts to keep its license verification systems available. If the Software is unusable because Steno’s license verification systems are unavailable (other than for non-payment, your breach, or causes outside Steno’s reasonable control), your sole and exclusive remedy is a credit against your next renewal (or, if the subscription is not renewing, a refund) prorated at one three-hundred-sixty-fifth (1/365) of the annual fee for each affected day. Any calendar day during which such unavailability exceeds four (4) hours in total counts as one full affected day. Steno has no other liability of any kind for Software or system unavailability.

13. Termination for Breach

Steno may suspend or disable the Software immediately, and may terminate this Agreement, if you materially breach it, including any breach of Section 3, non-payment, or misuse of Seats. For breaches capable of cure other than breaches of Section 3, Steno will provide notice and 10 days to cure before termination. Upon termination for your uncured material breach, no refund is due. Sections 5 (data practices), 9 through 12, and 14 through 18 survive any termination or expiration of this Agreement.

14. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW: (A) STENO WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, BUSINESS, CLIENTS, GOODWILL, OR DATA, OR FOR ANY REGULATORY FINE OR PENALTY IMPOSED ON YOU OR YOUR FIRM, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SOFTWARE, REGARDLESS OF THE THEORY OF LIABILITY AND EVEN IF STENO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; AND (B) STENO’S TOTAL CUMULATIVE LIABILITY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SOFTWARE WILL NOT EXCEED THE SUBSCRIPTION FEES YOU PAID TO STENO IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM. THE REMEDIES IN SECTIONS 9 AND 12 ARE EXCLUSIVE FOR THE MATTERS THEY COVER. THESE LIMITATIONS ARE A FUNDAMENTAL BASIS OF THE BARGAIN BETWEEN YOU AND STENO AND APPLY EVEN IF A LIMITED REMEDY FAILS OF ITS ESSENTIAL PURPOSE. NOTHING IN THIS AGREEMENT LIMITS LIABILITY FOR FRAUD, WILLFUL MISCONDUCT, OR ANY OTHER LIABILITY THAT CANNOT BE LIMITED UNDER APPLICABLE LAW.

15. Indemnification

You agree to indemnify, defend, and hold harmless Steno and its members, managers, and employees from and against any third-party claims, damages, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or relating to: (a) Form Data, including any claim by your client or any other person concerning its collection, accuracy, use, or disclosure; (b) any form prepared, submitted, or filed by you or a Seat holder; (c) any claim by your advisory firm, broker-dealer, or any regulator relating to your use of the Software or your compliance obligations; (d) your breach of this Agreement; or (e) your violation of any law or the rights of any third party. Steno will promptly notify you of any such claim and may participate in the defense with counsel of its choosing at its own expense.

16. Intellectual Property; Feedback

The Software, including its user interface, workflows, documentation, and all related intellectual property, is and remains the exclusive property of Steno. If you provide suggestions, ideas, or other feedback regarding the Software, you assign to Steno all right, title, and interest in that feedback, and Steno may use it for any purpose without compensation or attribution. This Agreement supplements, and does not supersede or limit, any nondisclosure agreement between you and Steno; in the event of a conflict, the agreement providing greater protection to Steno’s confidential information controls.

17. Governing Law; Venue; Waivers

This Agreement is governed by the laws of the Commonwealth of Pennsylvania, without regard to its conflict of laws principles. Any dispute arising out of or relating to this Agreement or the Software will be brought exclusively in the state or federal courts located in Pennsylvania, and each party consents to the personal jurisdiction of those courts. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY WAIVES ANY RIGHT TO A TRIAL BY JURY AND ANY RIGHT TO PARTICIPATE IN A CLASS ACTION, CLASS ARBITRATION, OR OTHER REPRESENTATIVE PROCEEDING; ALL DISPUTES WILL BE BROUGHT IN THE PARTIES’ INDIVIDUAL CAPACITIES ONLY. Notwithstanding the foregoing, Steno may seek injunctive or other equitable relief in any court of competent jurisdiction to protect its intellectual property or confidential information, without the requirement of posting a bond.

18. General

Steno may update this Agreement at any time by providing notice to your account email address at least 30 days before the updated Agreement takes effect. Your continued use of the Software after the effective date of an updated Agreement constitutes your acceptance of it. If an update takes effect during a Subscription Year you have already paid for and materially reduces your rights under this Agreement, you may cancel before the update’s effective date and receive the prorated refund described in Section 7. This Agreement, together with the Terms of Service, Privacy Policy, Cookie Policy, and any nondisclosure agreement between the parties, is the entire agreement between you and Steno regarding the Software. If any provision is held unenforceable, it will be enforced to the maximum extent permissible and the remaining provisions remain in effect. Steno’s failure to enforce any provision is not a waiver. You may not assign this Agreement or any Seat; Steno may assign this Agreement in connection with a merger, acquisition, or sale of assets. Neither party is liable for delay or failure caused by events beyond its reasonable control, except for your payment obligations. Notices to Steno should be sent to support@stenoautomation.com; notices to you will be sent to your account email address.

19. Contact

Steno, LLC

Email: support@stenoautomation.com

Mailing address: [COMPANY MAILING ADDRESS]