Terms

1. Acceptance of Terms

By accessing cedora.ai or requesting a pilot, you agree to be bound by these Terms of Service ("Terms"). If you do not agree, do not use the site or our service. These Terms constitute a binding agreement between you and Cedora ("we," "our," or "us"). We may modify these Terms at any time; continued use after posting constitutes acceptance.

2. Description of Service

Cedora provides an AI-assisted deal team for sell-side M&A advisory processes. The service includes agents that produce deal artifacts (pitch decks, preliminary market views, buyer intelligence reports, teasers, confidential information memoranda, status reports, bid analysis, and diligence Q&A responses) and tools for managing the sell-side process stage by stage. The service is provided through a private, per-firm hosted instance.

3. Pilot Terms

3.1 Scope

A pilot covers one live mandate. We provision a private instance, load your firm's template and letterhead, connect your outreach email domain, and run the first artifacts alongside you.

3.2 Artifacts

Your firm retains every artifact produced during the pilot — regardless of whether you continue after the pilot period. Artifacts are delivered in the format specified at the time of provisioning (PPTX, DOCX, and PDF).

3.3 Data isolation

Your instance is isolated from all other instances. Deal data is not shared with other firms and is not used to train, fine-tune, or evaluate any AI model.

4. Account and Access

We provision access credentials for your instance. You agree to:

• Keep credentials confidential and restrict access to authorized personnel at your firm.
• Notify us immediately of any unauthorized access or suspected breach.
• Accept responsibility for all activity conducted through your instance.

5. Acceptable Use

You agree not to use the service to:

• Violate any applicable law or regulation, including securities laws.
• Process data you do not have the right to process.
• Attempt to gain unauthorized access to Cedora's systems or another firm's instance.
• Reverse engineer, decompile, or extract source code from the service.
• Resell or sublicense access to the service without our written consent.

6. Intellectual Property

6.1 Cedora's property

The service, including its agents, workflows, and underlying software, is owned by Cedora and protected by copyright and other intellectual property laws. No license to the underlying software is granted by these Terms.

6.2 Your content and artifacts

Your firm retains ownership of materials you provide as inputs (financial models, management presentations, templates, letterhead) and of the artifacts produced by Cedora agents from those inputs. By providing input materials, you represent that you have the right to provide them and grant us the limited right to process them solely to deliver the service.

7. AI-Generated Content

Cedora agents produce artifacts using large language models and your firm's inputs. You acknowledge that:

• AI-generated content must be reviewed by a qualified professional before use or distribution.
• You are responsible for the accuracy and completeness of all artifacts after review.
• We are not liable for any consequences arising from distribution of artifacts without adequate review.

8. Confidentiality

Each party agrees to keep the other's confidential information (including deal data, pricing, and technical details of the service) confidential and to use it only to perform obligations under these Terms. This obligation survives termination for three years.

9. Disclaimer of Warranties

The service is provided "as is" and "as available" without warranties of any kind, express or implied, including implied warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not warrant that the service will be uninterrupted, error-free, or that any artifact will be free of inaccuracies.

10. Limitation of Liability

To the maximum extent permitted by law, Cedora shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunity, arising out of or related to your use of the service. Our total liability for any claim arising from these Terms shall not exceed the fees you paid us in the three months preceding the claim.

11. Indemnification

You agree to indemnify and hold harmless Cedora and its officers, employees, and agents from any claims, damages, and expenses (including attorneys' fees) arising from your use of the service, your violation of these Terms, or your violation of any third party's rights.

12. Termination

Either party may terminate a pilot or engagement on written notice. Upon termination, we will deliver a final export of your artifacts and delete your instance within 30 days. Provisions that by their nature survive termination — confidentiality, IP ownership, limitation of liability, governing law — remain in effect.

13. Governing Law

These Terms are governed by the laws of the State of New York, without regard to conflict of law principles. Any dispute arising from these Terms shall be resolved in the state or federal courts located in New York County, New York, and each party consents to personal jurisdiction there.

14. Entire Agreement

These Terms, together with the Privacy Notice, constitute the entire agreement between you and Cedora regarding the service and supersede all prior agreements and understandings relating to the subject matter hereof.

15. Contact

Questions about these Terms:

• Email: pilot@cedora.ai
• Website: cedora.ai

Last updated: September 12, 2026.