Checkout

This document sets forth the terms under which Lifeguard AI, Inc., a Delaware corporation (“Lifeguard”), is offering supporters an opportunity to contribute to Lifeguard’s campaign to fund the following project (the “Project”): Develop and commercialize [PRODUCT NAME], a drowning detection system for residential pools (the “Product”). This document is a legally binding agreement between Lifeguard and each supporter who contributes to the funding campaign (each, a “Supporter” and collectively, “Supporters”).

1. Lifeguard’s Rights, Representations and Obligations
   a. Project Completion. Lifeguard will use good faith efforts to complete the Project and provide the applicable bonuses or incentives associated with Supporters’ contributions (“Incentives”) in the timeframe(s) communicated to Supporters. Incentives and Product specifications and features are set out on the campaign page of Lifeguard’s website located at __. Final Product specifications and features may differ from those listed on the campaign page.
   b. Truthful, Transparent and Responsive. Lifeguard will be ready, willing and able to substantiate claims relating to the Project, including but not limited to product features and capabilities, the stage of product development, and timelines for delivery with verifiable evidence if requested. Lifeguard will respond promptly and truthfully to all questions posed by Supporters.
   c. Updates. Lifeguard will provide substantive and quality updates on a reasonably frequent basis to Supporters. Lifeguard will notify Supporters if there is expected to be a material delay in Project completion or availability of Incentives.
   d. Limited Refund. If due to Lifeguard’s failure to complete the Project, Lifeguard is unable to deliver the Product to a Supporter within one year of the timeframe communicated to the Supporter at the time of its contribution, Lifeguard shall, if requested by the Supporter and if the Supporter has not received an Incentive (other than in the form of a discounted purchase price), issue a refund to the Supporter (pro rata based on the amount contributed) out of any remaining contributed funds that have not been committed to Project completion (“Available Funds”). If there are no Available Funds, Supporters shall not be entitled to a refund.
   e. Right to Cancel and Refund Contributions. Lifeguard retains the right, exercisable at any time, to cancel and refund in full the contribution(s) of any and all Supporters. Lifeguard shall have no further obligation or liability to any Supporter whose contribution has been refunded in full.
   f. Compliance with Laws. Lifeguard will Comply with all applicable laws and regulations in statements concerning the funding campaign, the use of Supporter contributions, the Project and Incentives.
   g. Personal Information. Lifeguard will not use or disclose personally identifiable information provided to Lifeguard by a Supporter, such as names, e-mail addresses, and physical addresses, except (i) in connection with the funding campaign, the Project and providing Incentives, (ii) in response to legal process or reporting of suspected malicious or fraudulent conduct and (iii) with the consent of the Supporter.
2. Supporters’ Rights, Representations and Obligations
   a. Voluntary Contributions; Limited Refund. Supporter acknowledges and agrees that all contributions to the funding campaign are made voluntarily and at the sole discretion and risk of the Supporter. Supporter acknowledges and agrees that contributions are irrevocable by the Supporter and are subject to refund in limited circumstances as provided in Section 1(d) above.
   b. No Guarantees. Supporter acknowledges and agrees that the Product is in the development stage and will require substantial additional work and effort to bring it to market. By contributing to the funding campaign, Supporter is supporting the Project because Supporter cares about the Project and wants to make it happen. Like anyone getting in on an early-stage project, Supporter accepts the risk that the Project may experience changes, delays, and unforeseen challenges, or that the Product and the Incentives might not come to fruition. Supporter acknowledges that Lifeguard has made no representation or guarantee regarding amounts that may be raised in the funding campaign, that Lifeguard will successfully complete the Project or deliver the Product or Incentives or that the Product or Incentives will be satisfactory. The date to deliver the Product or an Incentive is only an estimate, and there is no guarantee that Lifeguard will fulfill and deliver the Product or Incentives by that date.
   c. Credit Card Charges. Supporter acknowledges and agrees that when Supporter contributes to the funding campaign, Supporter’s credit or debit card will be charged the amount of the contribution after Supporter confirms and submits its payment information.
   d. Taxes. Supporter acknowledges and agrees that Supporter bears the sole responsibility for determining how to treat its contributions and receipt of any Incentives for tax purposes. Lifeguard does not offer any advice or take any responsibility for how Supporters treat their contributions or for any financial consequences arising out of such treatment.
3. Miscellaneous
   a. Entire Agreement; Invalidity; No Waiver. This agreement is the entire agreement between the Supporters and Lifeguard in connection with the funding campaign, the Project, the Product and the Incentives. It supersedes all other communications and proposals (whether oral, written, or electronic) between a Supporter and Lifeguard with respect to such subject matter and governs the relationship between such parties. If any provision of this agreement is deemed invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of this agreement, which shall remain in full force and effect. Lifeguard’s failure to assert any right or provision under this agreement shall not constitute a waiver of such right or provision.

b. Limitation of Actions. Each Supporter agrees that regardless of any statute or law to the contrary, any claim arising out of or related to this agreement or the parties’ relationship contemplated hereby must commence within one (1) year after the cause of action accrues. Otherwise, such cause of action is permanently barred. This provision shall not apply to residents of New Jersey.

c. Governing Law; Personal Jurisdiction; Venue. The parties agree that any claim or dispute relating to this agreement or the parties’ relationship contemplated hereby will be governed solely by United States and New York state law, without regard to conflict of law provisions. Each Supporter and Lifeguard waives any right to a jury trial and agrees that any such claim or dispute shall be brought only in courts of competent jurisdiction located in New York County, New York. Each Supporter hereby submits to the personal jurisdiction and venue of such courts and waives any objection on the grounds of venue, forum non conveniens or any similar grounds with respect to any such proceeding.