BETA Services and Security Clause Samples
The 'BETA Services and Security' clause defines the terms under which beta or pre-release versions of a service are provided, with a particular focus on security considerations. Typically, this clause clarifies that beta services may not have the same level of security, reliability, or support as fully released products, and may be subject to change or discontinuation at any time. It often outlines the user's responsibilities for safeguarding their data and acknowledges potential risks associated with using beta features. The core function of this clause is to set expectations and allocate risk regarding the use of unfinished or experimental services, ensuring users are aware of and accept the potential limitations and security implications.
BETA Services and Security. During the Term, RUS agrees to engage a third party in accordance with the terms of Exhibit E (the “Third Party Auditor”), to conduct on-site audits Confidential Information of AssetMark and RUS of RUS not more than one (1) time per year to verify RUS’s compliance with its obligations set forth in this Agreement. During each calendar year, RUS will, at RUS’s expense, cause to be conducted SSAE 18 SOC 1 Type 2, and SOC 2 Type 2 audits for RUS’s production service location and RUS’s BCP site by an independent public accounting firm (“RUS Auditor”), and provide AssetMark with executive summaries of the resulting reports. Unless otherwise agreed by RUS and AssetMark, each SOC 1, subject to the carve outs in Exhibit E and the SOC 2 audit shall be conducted with the objective of obtaining a final, unqualified audit opinion for the applicable audit period and, as such, RUS shall promptly remediate any material weakness or deficiency revealed by any such audit. AssetMark and its external auditors will be provided executive summaries of relevant reports promptly, subject to the RUS Auditor’s restricted use provisions contained within the reports, including any subsequent reports issued following RUS’s remediation of material weaknesses or deficiencies, as soon as reasonably possible after the conclusion of such audit. AssetMark shall have the right to provide a copy of such reports to any applicable regulators and request confidential treatment; provided, however, that any such regulator’s refusal to agree to be bound by confidentiality terms shall not prevent such disclosure. At AssetMark’s request, RUS shall confirm in writing that there have been no changes in the relevant policies, procedures and internal controls since the completion of any such audit, or, as applicable, that material weaknesses or deficiencies have been remediated (i.e., through a representation letter provided by RUS). SSAE 18 shall mean the Statement on Standards for Attestation Engagements “Attestation Standards: Clarification and Recodification” issued by the AICPA Auditing Standards Board for reports dated after May 1, 2017. All audits shall be conducted during normal business hours and after reasonable notice to RUS. If an audit conducted by the Third Party Auditor results in RUS being notified that it, its third-party providers, agents or permitted subcontractors are not in compliance with such requirements or this Agreement, RUS shall, at its sole cost and expense, promptly take all n...