ACTUARIAL TOOLKIT SOFTWARE LICENSE AGREEMENT
Last Updated: June 2026
This Software License Agreement ("Agreement") is entered into between Actuarial Toolkit LLC ("Licensor") and the individual or entity purchasing, downloading, installing, accessing, or using the Actuarial Toolkit software ("Licensee").
By downloading, installing, accessing, or using the Software, Licensee agrees to be bound by the terms of this Agreement.
1. License Grant
Subject to the terms of this Agreement and payment of applicable subscription fees, Licensor grants Licensee a limited, non-exclusive, non-transferable, revocable license to install and use the Actuarial Toolkit software ("Software") during the active subscription term.
The Software is licensed, not sold.
2. Authorized Users and License Quantities
The Software is licensed based on the number of user licenses purchased.
A user license permits use of the Software by one individual user.
Licensee may install and use the Software for up to the number of users covered by the active subscription.
If employee count or user count fluctuates during the subscription period, licenses may be reassigned among employees as business needs require, provided that the total number of active users does not exceed the number of licenses purchased at any time.
For example, if an employee leaves the organization, the associated license may be reassigned to a replacement employee without purchasing an additional license.
Licensee may increase or decrease the number of licenses upon renewal of the subscription term.
3. Subscription Term
Access to and use of the Software is permitted only while Licensee maintains an active subscription.
Failure to renew the subscription may result in termination of access to software updates, support services, and future releases.
4. Subscription Renewal
Unless canceled prior to the renewal date, subscriptions automatically renew at the end of each subscription term for an additional term of equal length.
By purchasing a subscription, Licensee authorizes Licensor and its payment processor to charge the applicable subscription fees and taxes at each renewal date using the payment method on file.
Licensee may cancel automatic renewal at any time through the applicable subscription management process. Cancellation will prevent future renewals but will not result in a refund of fees already paid.
Licensor reserves the right to modify subscription pricing upon renewal by providing reasonable advance notice to Licensee.
5. Supported Environment
The Software is designed and supported for use with Microsoft Excel for Microsoft 365 running on Microsoft Windows operating systems.
The Software may function in other versions of Excel or on other operating systems; however, such environments are not supported and no compatibility is guaranteed.
Licensor may modify supported environments from time to time as technology platforms evolve.
6. User Responsibility and Verification of Results
The Software is intended as a productivity and analytical assistance tool.
Licensee acknowledges and agrees that:
The Software may generate calculations, formulas, tables, graphs, summaries, reports, or other outputs.
All outputs must be independently reviewed, validated, and approved by qualified users.
Licensee remains solely responsible for all assumptions, methodologies, calculations, analyses, interpretations, decisions, reports, filings, recommendations, and final work products produced using the Software.
Use of the Software does not replace professional judgment, actuarial judgment, peer review, quality control procedures, regulatory compliance requirements, or applicable professional standards.
Licensor makes no representation that any output generated by the Software is accurate, complete, suitable, or appropriate for any particular purpose.
7. Excel Environment Modifications
To improve performance and functionality, the Software may temporarily modify certain Microsoft Excel application settings while executing operations, including but not limited to:
Calculation mode
Screen updating
Display alerts
Event handling
Other application-level settings
The Software is designed to restore modified settings upon completion of processing. However, Licensee remains responsible for reviewing and confirming workbook and application settings after use.
Licensor shall not be responsible for interruptions, delays, calculation differences, workbook behavior, or other effects resulting from changes to Excel settings.
8. Workbook Modifications and Undo History
The Software may create, modify, delete, format, or reorganize workbook content, including but not limited to:
Worksheets
Tables
Charts
Named ranges
Formulas
Formatting
Workbook structures
Licensee acknowledges that execution of VBA macros may cause Microsoft Excel's Undo history to be cleared or otherwise unavailable.
As a result, changes made by the Software may not be reversible through Excel's standard Undo functionality.
Licensee is solely responsible for maintaining appropriate backup copies of workbooks and data prior to using the Software.
9. Internal Organizational Use Only
Unless otherwise expressly authorized in writing by Actuarial Toolkit LLC, the Software is licensed solely for Licensee's internal business use.
Licensee shall not:
Share, distribute, provide access to, or otherwise make the Software available to third parties.
Post the Software on public or private file-sharing services.
Provide copies of the Software to clients, vendors, contractors, affiliates, or other organizations not covered by the applicable license subscription.
Permit use of the Software by a number of users exceeding the number of purchased licenses.
Each organization must maintain its own valid subscription covering the number of authorized users accessing the Software.
10. Backup Responsibility
Licensee is solely responsible for maintaining appropriate backup copies of all workbooks, files, models, and related data before using the Software.
Licensee assumes all risk associated with data loss, workbook corruption, unintended modifications, or other impacts resulting from use of the Software.
Actuarial Toolkit LLC shall not be responsible for restoration of lost data, reconstruction of models, or recovery of workbook content.
11. No Professional Advice
The Software is a productivity tool and does not provide actuarial, accounting, legal, financial, regulatory, compliance, consulting, or other professional advice.
Any analysis, report, recommendation, filing, communication, or business decision produced using the Software remains the sole responsibility of the Licensee and its personnel.
Use of the Software does not satisfy professional standards, peer review requirements, actuarial standards of practice, regulatory requirements, or internal quality control procedures.
12. Restrictions
Licensee shall not:
Sell, sublicense, rent, lease, distribute, or transfer the Software.
Reverse engineer, decompile, disassemble, modify, translate, or create derivative works based upon the Software.
Remove copyright notices, trademarks, proprietary markings, or license information.
Circumvent license controls or usage restrictions.
Attempt to extract, copy, or reproduce source code, algorithms, or proprietary functionality.
Use the Software in violation of applicable laws or regulations.
13. Ownership
The Software, including all code, functionality, documentation, trademarks, designs, enhancements, updates, and related intellectual property rights, remains the exclusive property of Actuarial Toolkit LLC.
No ownership rights are transferred under this Agreement.
14. Updates and Enhancements
During an active subscription term, Licensor may provide updates, bug fixes, enhancements, modifications, and new releases at its discretion.
Licensor is not obligated to develop, maintain, or release any specific feature, enhancement, update, or future version.
15. Disclaimer of Warranties
Software Provided "As Is"
The Software is provided on an "as is" and "as available" basis.
To the maximum extent permitted by law, Licensor disclaims all warranties, whether express, implied, statutory, or otherwise, including warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, reliability, or performance.
Licensor does not warrant that the Software will be error-free, uninterrupted, secure, or free of defects.
16. Limitation of Liability
Limitation of Damages
To the maximum extent permitted by law, Actuarial Toolkit LLC shall not be liable for any indirect, incidental, special, consequential, exemplary, punitive, or lost-profit damages arising out of or related to the Software or its use.
In no event shall Licensor's total aggregate liability exceed the total fees paid by Licensee for the Software during the twelve (12) months preceding the event giving rise to the claim.
17. Indemnification
Licensee agrees to indemnify, defend, and hold harmless Actuarial Toolkit LLC and its owners, officers, employees, and agents from and against any claims, damages, liabilities, losses, costs, and expenses, including reasonable attorneys' fees, arising from:
Licensee's use of the Software;
Licensee's analyses, reports, recommendations, decisions, or work products;
Violation of this Agreement;
Violation of applicable laws, regulations, or professional requirements.
18. Refund Policy
All Sales Final
Due to the nature of downloadable software and the immediate access provided to the Software, all subscription fees and other amounts paid to Licensor are non-refundable.
All sales are final.
Licensee acknowledges that access to the Software, downloads, updates, documentation, and related materials is made available immediately upon purchase. Accordingly, no refunds, credits, or prorated reimbursements will be provided for:
Subscription fees already paid;
Partial subscription periods;
Unused licenses;
Failure to use the Software;
Cancellation prior to the end of a subscription term; or
Termination resulting from violation of this Agreement.
Nothing in this section limits any rights that cannot be waived under applicable law.
19. Termination
Licensor may terminate this Agreement immediately if Licensee violates any provision of this Agreement.
Upon termination, Licensee shall cease use of the Software and remove or destroy all copies in its possession or control.
Sections relating to ownership, disclaimers, limitation of liability, indemnification, and other provisions intended to survive termination shall remain in effect.
20. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Arizona, without regard to conflict-of-law principles.
Any legal action arising from this Agreement shall be brought exclusively in the state or federal courts located in Arizona, and Licensee consents to the jurisdiction of such courts.
21. Entire Agreement
This Agreement constitutes the entire agreement between the parties regarding the Software and supersedes all prior discussions, understandings, representations, and agreements relating to the Software.
If any provision of this Agreement is determined to be unenforceable, the remaining provisions shall remain in full force and effect.
22. Contact Information
Actuarial Toolkit LLC
Phoenix, Arizona
Email: paul@actuarialtoolkit.com