Software License Agreement

This Software License Agreement (the "Agreement") is effective from January 1, 2024 (the "Effective Date") by and between BETTISWORTH & ASSOCIATES, Inc., a State of Texas corporation with its principal place of business at 7941 Katy Freeway, Suite 107, Houston, Texas 77024 ("Licensor"), and any purchaser ("Licensee") of BETTISWORTH’s software products.

1. License Grant. Licensor hereby grants to Licensee a non-exclusive, non-transferable license to use the software product (the "Software") described in the Terms and Conditions attached hereto and incorporated herein by reference.

2. License Restrictions. Licensee acknowledges that all intellectual property rights in the Software are, and shall remain, the property of Licensor. Licensee shall have no rights in or to the Software other than the right to use it in accordance with the express terms of this License Agreement.

3. One-Time Purchase. The Licensee shall make a one-time purchase of the Software in accordance with the terms set forth in the Terms and Conditions attached hereto and incorporated herein by reference.

4. Annual Maintenance Fees. Licensee shall pay Licensor annual maintenance fees for the Software in accordance with the terms set forth in the Terms and Conditions attached hereto and incorporated herein by reference.

5. The Licensor shall provide technical support and assistance to the Licensee in accordance with the terms and conditions set forth in this agreement. The Licensor shall use commercially reasonable efforts to provide the support services in a timely and professional manner. The Licensee acknowledges that the Licensor's ability to provide support services may be affected by factors beyond its control, including but not limited to, the Licensee's hardware and network infrastructure, third-party software, and internet connectivity.

6. The Licensor shall not be liable for any damages or losses arising from the Licensee's use of the software or the support services provided by the Licensor. The Licensee shall be solely responsible for ensuring that its use of the software complies with all applicable laws and regulations.

7. The Licensor may modify or discontinue the support services at any time if it gives the Licensee reasonable notice of such modification or discontinuation.

8. This support obligation shall remain in effect each year Licensee pays the annual maintenance fee.

9. The support services shall include, but not be limited to, the following:

Assistance with installation, configuration, and use of the software.
Troubleshooting and resolution of software-related issues.
Provision of software updates and upgrades, and as noted in the attached Terms and Conditions.
Provision of documentation and training materials.
Response to Licensee inquiries and requests for assistance within a reasonable time frame.

Terms and Conditions for

BETTISWORTH US4562 & US4797 Software Products

Software product package (the "Software") Description
1. A software package is comprised of a custom SAP report and associated Microsoft (MS) workbook.
2. SAP custom report, ZFA_US4562, is an ABAP-based report solution where corporations use an SAP ERP system to extract property (asset) data for submission on the Internal Revenue Service (IRS) Form 4562 Depreciation and Amortization. Corporations use Form 4562 to 1) claim property deductions for depreciation and amortization, 2) elect under section 179 to expense certain property, and 3) provide information on the business investment use of automobiles and other listed property when filing annual US federal and state income tax returns.
3. SAP custom report, ZFA_US4797, is an ABAP-based report solution where corporations use an SAP ERP system to extract property (asset) data for submission on the Internal Revenue Service (IRS) Form 4797 Sales of Business Property. Corporations use Form 4797 to report:
  1. The sale or exchange of property,
  2. The involuntary conversion of property and capital assets,
  3. The disposition of noncapital assets,
  4. The disposition of capital assets not reported on Schedule D,
  5. The gain or loss for partners and S corporation shareholders from certain section 179 property dispositions by partnerships and S corporations, and
  6. The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less.
4. Form 4562 and Form 4797 Workbooks are MS-based excel analytical tools for additional analysis of the data extracted with the SAP reports. The workbooks contain a worksheet with detailed data supporting each reporting line in Form 4562 and Form 4797.
One-time purchase cost [as specified in Purchase Order or Invoice]
1. Product software package for ZFA_US4562 is a one-time purchase price.
2. Product software package for ZFA_US4797 is a one-time purchase price.
3. If both packages are purchased, a discount is applied.
Annual maintenance fees [as specified in Purchase Order or Invoice]
1. The annual maintenance fee is per year per product software package.
2. The annual maintenance fee may increase based on the US Consumer Price Index (CPI) for Information Technology, Hardware, and Services (USCPIIUM).
Provision of product software package updates and upgrades
1. The Licensor shall ensure the product software packages as well as future updates and upgrades conform to the IRS instructions for completion of Form 4562 and Form 4797.
License Use
1. The MS workbooks are available to an unlimited number of Licensee employees.
2. The Licensee shall authorize, enable, and track user access to the custom SAP reports.
3. Licensee user access to custom SAP reports and MS workbooks is governed by existing Licensee agreements with SAP and Microsoft.