z-Tree License Agreement

University of Zurich ("UZH") is willing to license the software package z-Tree
including the programs z-Tree and z-Leaf, which is designed to program and
conduct economic experiments ("Software") to you ("You") only upon the
condition that You accept all of the terms contained in this license agreement
("Agreement"). Please read the Agreement carefully. By selecting the "Accept
License Agreement" (or the equivalent) button and/or by using the Software You
acknowledge that You have read the Agreement, understand it and agree to be
bound by its terms and conditions.

1.  LICENSE

1.1 UZH grants You herewith a non exclusive license to use the Software.

1.2 The use of the Software is restricted exclusively to academic research
    conducted or supervised by You.

1.3 Your are not permitted to transfer the rights under this agreement to
    any third party or to make the Software and/or the respective intellectual
    property rights in any other way accessible or available to any third
    party.

1.4 Title, ownership rights, and intellectual property rights in and to the
    Software shall remain with UZH.

2.  CHANGES OF THE SOFTWARE PROVIDED BY YOU

2.1 UZH is entitled to incorporate at its sole and exclusive discretion all
    changes or supplements or all proposed changes or supplements to the
    Software (improvements) developed by You free of charge and You herewith
    grant to UZH a perpetual, unrestricted license to use and sublicense such
    improvements.

3.  LICENSE FEE

3.1 UZH does not charge a license fee for the use of the Software as set
    out herein.

3.2 In return for the license YOU undertake to mention the name of the
    Department of Economics of the University of Zurich as well as the name
    z-Tree and to cite the following article in all publications in which
    results of experiments conducted with the Software are published:

    Urs Fischbacher, z-Tree: Zurich Toolbox for Ready-made Economic
    Experiments, Experimental Economics 10(2), 171-178.

4.  TERM

4.1 This Agreement becomes effective at the moment You are authorized by UZH
    to download the Software. This Agreement is valid for the duration of one
    year and shall thereafter continue for subsequent one-year periods unless
    terminated by any party giving not less than three months advance notice
    of such termination prior to the expiration of the initial or any
    subsequent one-year terms. In case of material violation of this agreement
    by You, UZH is entitled to terminate this agreement immediately.

4.2 Should this agreement be terminated, irrespective of the reasons, You
    shall refrain from all and any use of the Software and delete and/or
    destroy all copies of this Software.

5.  NO WARRANTY/INDEMNIFICATION

5.1 THIS SOFTWARE IS PROVIDED "AS IS" AND ANY EXPRESS OR IMPLIED WARRANTIES,
    INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY
    AND FITNESS FOR A PARTICULAR PURPOSE ARE DISCLAIMED. UZH MAKES NO
    REPRESENTATION OR WARRANTY THAT THE SOFTWARE OR THE USE OF THE SOFTWARE
    WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHTS. IN NO EVENT SHALL
    UZH BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR
    CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF
    SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS
    INTERRUPTION) HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN
    CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE)
    ARISING IN ANY WAY OUT OF THE USE OF THIS SOFTWARE, EVEN IF ADVISED OF THE
    POSSIBILITY OF SUCH DAMAGE.

5.2 YOU ARE RESPONSIBLE FOR THE SELECTION OF THE SOFTWARE TO ACHIEVE ITS
    INTENDED RESULTS, USE OF THE SOFTWARE, AND THE RESULTS OBTAINED THEREFROM.
    YOU AGREE TO INDEMNIFY AND HOLD UZH AND ITS EMPLOYEES HARMLESS WITH RESPECT
    TO ALL CLAIMS BY THIRD PARTIES ARISING OUT OF YOUR USE OF THE SOFTWARE.

6.  GENERAL

6.1 This Agreement and the license granted herein or any part thereof under
    this Agreement are not assignable by YOU without the prior written approval
    of UZH.

6.2 Neither party shall use the names or trademarks of the other, its related
    entities and its employees, or any adaptations thereof, in any advertising,
    promotional or sales literature without the prior written consent of the
    party so affected.

6.3 Each party is acting as an independent contractor and not as an agent,
    partner, or joint venture with the other party for any purpose. Neither
    party shall have any right, power or authority to act or create any
    obligation, express or implied, on behalf of the other.

6.4 This Agreement sets forth the entire Agreement between the parties with
    respect to the subject matter hereof. No supplement, modification or
    amendment of this Agreement shall be binding, unless in writing signed by
    a duly authorized representative of each party to the Agreement.

6.5 Should some or several provisions of this Agreement be ineffective or
    invalid, or should there be an omission in this Agreement, the
    effectiveness, respectively the validity of the remaining provisions shall
    not be affected thereby. An ineffective, respectively, invalid provision
    shall be re-placed by the interpretation of the agreement which comes
    nearest to the economic meaning and the envisaged economic purpose of the
    ineffective respectively, invalid provision. The same applies in the case
    of a contractual gap.

6.6 The terms stipulated in this Agreement may not be modified in any way
    without the mutual consent of the parties in writing.

6.7 THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF SWITZERLAND. Any dispute
    arising from or in connection with this Agreement will be finally settled
    by the courts of Zurich, Switzerland.