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PLATAFORMA OPEN FUTURE

CONDITIONS OF USE

1.- Introduction.

The Open Future Platform (the "Platform") is an online tool owned by Telefónica, S.A. ("Telefónica") intended for both entrepreneurs and those bodies and entities associated to entrepreneurship so as to provide them with an environment where they can get in touch, communicate, exchange ideas, look for opportunities and develop business acceleration initiatives.

These Conditions of Use govern the access and use of the Platform, which is made available to the users by Telefónica, as well as all the contents displayed or made available to users in the Platform. Every time you access or use the website or any of the services of the Platform, it is construed that you have read and agreed to observe all of the provisions set forth in these Conditions of Use.

Telefónica reserves the right, at its full discretion, to examine these Conditions of Use at any moment due to legal or technical reasons, or to changes in the functioning of the Platform or in the regulations, as well as any amendments which could arise from applicable codes of conduct or, when applicable, from any strategic company decision. Should this occur, we will publish notice of such changes on our website and/or notify you through our website; continuing to use the Platform afterwards will be construed as an implied consent of the amendments made. Should you not agree with the amendments, you may unsubscribe from the Platform by following the procedure established for said purpose.

Telefónica advises you to periodically check the Conditions of Use, as these might be amended. You may check the current applicable version on the Conditions of Use section of the website at any time.

Collection and treatment of your personal data, as well as the exercise of your rights over said data, shall be governed by these Conditions of Use and by the Privacy Policy of the Platform, as well as by the specific conditions on Personal Data Protection that the user accepts at the time of collection of their personal data or at any given time further to such collection.

2. Rights and Obligations of the User.

2.1. License of use and exploitation and guarantee over the contents provided by the user to the Platform.

You are the owner of the information you provide to the Platform and may ask for its removal at any time, unless you have shared information or content with other individuals and they have not deleted it or if it has been copied or stored by other users.

Moreover, you recognise Telefónica is entitled to a preferential right in order to obtain a non-exclusive license for the whole TERRITORY (those countries where Telefónica operates), in order to copy, prepare derived works, improve, distribute, publish, remove, keep, add, process, analyse, use and commercialise, by means of any form of exploitation known at the present time or which might be discovered in the future, of any content you provide to the Platform, whether directly or indirectly, including any content generated by the users, ideas, concepts, techniques or data of the services you provide to the Platform.

An agreement will be required between both parties, which shall agree upon the conditions and scope of said license for each particular situation.

Upon the transmission of any contents, you declare and guarantee that you are authorised to provide the said information and that it is true and faithful, it is not confidential and it does not breach any contractual restriction nor any third party rights. Accordingly, you shall be held responsible against Telefónica for any contents transferred to the Platform, and shall hold Telefónica harmless against any lawsuit or claims brought by any third party in respect of such contents and relating to any legitimate right on the contents which have been published in the Platform.

2.2. Requirements for using of the Platform.

In order to use the Platform, you must comply with the following requirements and declare and guarantee that they are true: (1) you are of legal age (18 years) or over; (2) you have not been restricted from using the Platform and you have not been banned from having an account in the Platform; (3) you will use your real name and will only provide accurate and faithful information to the Platform; (4) you have full powers and authority to join the Platform and, when doing so, you are not breaching any contract you might have entered into; (7) you will not breach any right of Telefónica or of any third party, including intellectual property rights, such as copyrights or trademark rights (8) you accept to pay for all equipment expenses, programs and mobile and Internet access required to use the Platform.

2.3. Registering in the Platform.

The profile you create in the Platform will become part of the Platform and will be owned by Telefónica, except for your personal data, which will remain under the user's ownership and the contents for which the user gives us a user and exploitation license, as stated in paragraph 2.1 above. You agree: (1) to provide accurate, faithful information and to keep it updated; (2) to keep your password safe and confidential; (3) to not allow any third party to use your account; (4) to not use other people's accounts; (5) to not sell, commercialise nor transfer your Platform account to any third party; and (6) to not charge anyone for accessing any portion of the Platform, or any information contained on the website. Furthermore, you will be held responsible for any events happening in your account until you delete it or demonstrate that the security of your account has been jeopardised due to reasons beyond your control.

2.4. Indemnity.

You accept to indemnify and hold us harmless, for any damage, loss and cost (including, but not limited to, reasonable legal fees) relating to all lawsuits, charges and investigations carried out by third parties due to (1) your failure to comply with these Terms and Conditions of Use including, but not limited to, the delivery of contents which might breach any third parties' rights or applicable laws, (2) any content you provide to the Platform and (3) any activity in which you are involved via the Platform.

2.5. Notices and messages about the Platform.

For what concerns messages and notices about the Platform, Telefónica might issue a warning under the form of a banner message on its websites to notify certain changes, such as any amendments of these Terms and Conditions. Alternatively, such warning might be sent via e-mail by the Platform to one of the e-mail addresses associated to your account, even if we have a different contact information. Furthermore, you consent to be contacted by the Platform via your account or other means, including your e-mail address, your mobile/landline telephone number or delivery services, like ordinary mail, in regard with your account. You state to know and accept we decline any responsibility associated or arising from not keeping your contact information or any other information updated, including, but not limited to, the failure to receive any important information concerning the Platform.

2.6. Communication and exchange between users.

The Platform offers different forums where you may publish your remarks and comments on specific topics. The Platform also allows for the exchange of information, allowing its users to publish updates, including links to news and other contents, such as product recommendations, etc. in its profiles and other portions of the website, such as groups and company profiles. Members of the Platform may create groups and company pages for free, but Telefónica may, at its own discretion, close or transfer any groups or company pages, or remove content from those sections should they breach these Terms and Conditions of Use or other intellectual property rights. Please note that any ideas you publish and the information you share may be seen and used by other members, and Telefónica cannot guarantee that other members do not use the ideas and information you share in the Platform. Therefore, should you have an idea or information which you wish to keep confidential, which you do not wish to be used by third parties, or which is subject to third party rights which could be breached if shared, please refrain from publishing it in any group, network updates, or anywhere else. Telefónica cannot accept liability for the use or misappropriation of any content or information that you publish on your site.

2.7. Privacy.

Telefónica, S.A. guarantees compliance with the laws and regulations in force in respect to protection of personal data, user privacy and secrecy and security of personal data, as provided in Spanish Organic Law 15/1999 on the Protection of Personal Data, and in Royal Decree 1720/2007 of 21 December, which approves the Regulation implementing Organic Law 15/1999 on the Protection of Personal Data. For this purpose, it has adopted the technical and organizational measures needed to prevent loss, misuse, alteration, unauthorized access and theft of personal data, bearing in mind the technological developments, the nature of data themselves and the risks to which they are exposed.

The use of the Platform implies the acceptance by the user of its Privacy Policy, as set forth in these Terms and Conditions of Use, since it governs how we process any information, including personal data provided by you. Despite the above-mentioned content, when personal data are gathered using the Platform, the user will be notified beforehand, in a clear, unequivocal manner, on the specific conditions relating to personal data protection which shall apply. Please note that certain information, statements, data and content (such as photographs) which may be uploaded to the Platform or to groups you may join may, and most probably will, disclose personal information about you. You state that any information, statements, data or contents provided by you are given voluntarily and that Telefónica may use the said information according to the terms of the Privacy Policy and the specific conditions regarding personal data protection that the user accepts in each time.

3. Rights and Obligations of Telefónica.

3.1. Availability of the Platform.

As long as Telefónica continues to make the Platform available for the users, Telefónica shall provide and attempt to update, improve and increase the functioning of it. Therefore, you may access the Platform as it is shown every time and we cannot accept any liability, other than those specifically stated in these Terms and Conditions of Use. We reserve the right to amend, replace, deny access, cancel or interrupt the service of the Platform, totally or partially, at our own discretion. All amendments shall enter into force in the moment they are published in the Platform, or when a notice is sent, unless otherwise stated. Moreover, Telefónica reserves the right to remove, delete or discard any content available in your account, with or without previous notice, if it considers it breaches this Contract.

3.2. Third party websites and developers.

The Platform may include links to third party websites ("Third Party Websites") on its site. Telefónica also allows the developers of third parties ("Platform Developers") to create applications ("Platform Applications") which provide functions and functionalities by using data and development tools provided via the Platform. You are responsible of assessing whether you want to access a Third Party Website or use a Platform Application. Before using a Third Party Website or a Platform application, or sharing any information in a Third Party Website or a Platform Application, you should examine their privacy policy or other applicable terms, since you could be authorising that third party to use your information in a way we would not do. Telefónica cannot accept any liability and does not support any kind of functions, content, advertising, products or other material in or available on Third Party Website or on Platform Applications, neither does examine, audit or approve any Platform Applications. Therefore, should you decide to use Third Party Website or Platform Applications, you do so at your own risk and accept that the use of any Platform Application will be based on the way it is offered, without any guarantee relating to the Platform Developers' actions, and that this Agreement shall not apply your use of any Third Party Website or Developer Application.

3.3. Disclosure of User information.

You acknowledge, consent and accept that we may be able to access, keep and disclose your registry data and any other information provided in accordance to the terms of the Privacy Policy and the specific conditions regarding personal data protection that you may have accepted, whether its required by law or whether we consider in good faith, as long as it is allowed by the applicable laws, that this access, preservation or disclosure are reasonably necessary from our point of view in order to: (1) meet the requirements of any legal proceedings, including, but not limited to, summons to a civil or criminal hearing, court orders or other compulsory disclosures; (2) enforce these Terms and Conditions of use; (3) respond to any lawsuits due to breach of any third party rights, whether the said third party is a member of the Platform, an individual or a governmental agency, or not; or (4) to protect the rights, properties or personal safety of Telefónica, of the members of the Platform or the general public.

3.4. Industrial and intellectual property.

The rights of intellectual and industrial property of the Platform, its source code, design, navigation structure, databases and the different elements thereof (excluding the exception set forth in paragraph 2.1. for the contents provided by the user) are owned by Telefónica S.A., who is exclusively entitled to exercise of rights of exploitation in respect thereof in any form and, especially, the rights of reproduction, distribution, public disclosure and transformation.

Telefónica S.A. is the holder of the industrial property rights concerning its marks, domains, products and services, and specifically those relating the trademarks "Telefónica", "Movistar", "Vivo", and "Wayra", as well as other marks, service marks, diagrams and logotypes that might be used in relation to Telefónica. Concerning any third parties' products and services quotations, Telefónica S.A. acknowledges the holders’ corresponding rights of industrial and intellectual property; however, the mere mention or presence in the website does not imply the existence of any rights or responsibilities on the part of Telefónica relating to the said products and services, nor any support, patronage, or recommendation by Telefónica.

4. Disclaimer.

Telefónica provides the Platform and the contents as it is set forth. Telefónica does not control nor examine the contents which are generated by the Users to verify its legality, and it does not carry out any statements nor express guarantees. As far as it is allowed by the applicable laws, Telefónica and its providers waive any and all of the explicit guarantees, including, but not limited to, any commercialization guarantee, fitness for purpose, ownership, accuracy of the data and non-infraction. Should you be unsatisfied or feel damaged by Telefónica or by any aspect related to the Platform, you can cancel your account and stop being involved in the Platform. This is the only action you can carry out. Telefónica cannot be held responsible, whether directly or indirectly, for the misuse or the fraudulent use of the Platform or the website, or the contents hosted therein. Telefónica does not carry out any statements nor provides any guarantees regarding the provision of messages sent via the Platform to any individual. Furthermore, we cannot guarantee nor declare that your use of the Platform will not breach any third party rights. Any material, service or technology described which is used on the website can be subject to intellectual property third party rights that have conferred upon us a license to use the said material, service or technology. Telefónica does not have any obligation to verify the identity of the individuals who join the Platform, and it is not obliged to control the use other users make of it; therefore, Telefónica cannot accept any responsibility that might arise from identity theft or any other misuse of their identity or information, as long as it is not due to errors on the Platform.

Telefónica cannot guarantee that the Platform will function without interruptions or errors. Specifically, the functioning of the Platform may be interrupted due to maintenance works, updates or system or network errors. Telefónica waives any responsibility for any damages arising from any interruption or functioning error. Also, Telefónica cannot accept any responsibility from a functioning deficiency, inability to access or inappropriate conditions of use of the Platform due to the use of the wrong systems, interruptions related to Internet service providers or the overload of the Internet network or to any other reason whatsoever.

5. Unsubscribing from the Platform.

You can unsubscribe from the Platfrom at any time for any reason or for no reason at all, after giving proper notice to Telefónica through the procedure set up by the Platform for this purpose. The said notice will become effective only after it is processed by Telefónica. Also, Telefónica may ban you from the Platform and close your account for any reason or with no reason at all, at any time, with or without notice. The effect of such unsubscription will be immediate or as specified in the notice and implies the impossibility to access the Platform.

6. Overuse of the Platform.

Telefónica may restrict, cancel or close the account of any member who overuses or misuses the Platform. The following will be considered as a Platform misuse: to invite any user that you do not know to connect with you; to create multiple or fake profiles; to use the Platform for commercial purposes without the authorization of Telefónica; to breach any industrial or intellectual property right, or any of the elements listed as allowed and forbidden actions as set forth in the corresponding paragraph, or any other behaviour that Telefónica considers at its entire discretion to be against its purpose. Moreover, notwithstanding the provisions of the above mentioned aspects, Telefónica has implemented a member account resolution policy to be applied to those account who, at its sole discretion, are considered as recurrent offenders, in accordance with the applicable legislation on Intellectual Property.

7. Dispute resolution.

These Terms and Conditions of Use shall be governed by the laws of Spain. Telefónica and the User expressly waive any other venue that may be applicable to them, and agree to submit to the Courts of Madrid (Spain).

8. Amendments of these Terms and Conditions of Use.

We reserve the right to amend, complement or replace these Terms and Conditions of Use, which shall enter into force at the time of its publication in the Platform or when you are given notice by other means. By means of example, Telefónica may publish an advertisement as a banner concerning the Platform when we amend the Terms and Conditions of Use or the Privacy Policy, so that you can access and examine any changes before continuing to use the website. If you do not wish to accept the amendments, you may unsubscribe from the Platform at any time, as explained in paragraph 5 above.

9. Forbidden uses.

IT IS STRICTLY FORBIDDEN and, therefore, you will be held solely responsible for any consequences arising thereof, to access or use of the Platform for illegal or unauthorised purposes, with or without the purpose to make a profit, and more specifically, but not limited to it:

- To host, store, disclose, publish, distribute or share any content which may be considered to be a violation whatsoever of the fundamental rights to honour, image and personal and family privacy of third parties, and specially, of minors.

- To host, store, disclose, publish, distribute or share any images or photographies containing images or personal data of third parties without appropriate consent of its holders.

- To host, store, disclose, publish, distribute or share any content that infringes the secrecy of communications, the breach of industrial and intellectual property rights or of the regulations concerning personal data protection.

- To reproduce, distribute, make available or share in any way, within or outside of the Platform, photographies or images that provided by other users.

- To host, store, disclose, publish, distribute or share any material or information which is illegal, racist, obscene, pornographic, abusive, defamatory, misleading, fraudulent or contrary to morals or public order.

- To use the Platform to insult, defame, intimidate, threaten, violate their image or harass other users.

- To use the website or any of the Platform services illegally, or in a way which might damage, overload or harm the Platform or the website.

- To insert computer viruses, defective files or to host, store, distribute or share any other material or computer program which may damage or alter the contents, programs or systems of the Platform.

- To use the Platform for advertising or sending commercial informations, for transmitting messages with advertising purposes or for collecting data for the same purposes.

- To use the Platform, regardless the purpose, to send e-mails massively and/or repeatedly to several recipients, or to use third parties' e-mail addresses without their consent.

- To obtain or collect e-mail addresses or other contact information of other users via the Platform for the purpose of sending e-mails or other unsolicited communications.

- To host, store, disclose, publish, distribute or facilitate unsolicited or non-authorized advertisements, illicit offerings, promotional material, "junk mail", "spam", "chain letters" or similar communications.

- To create a fake identity, provide and/or use fake data in the profile, produce fake statements, provide fake information about you, about other persons and/or about your relationship with them.

- To create a profile under the name of another person or any other use of identities of other individuals and, specifically, impersonation.

Should Telefónica detect any of the above mentioned actions, it could proceed to automatically suspend or cancel your account in the Platform without previous notice, without such suspension or cancellation entitling you to be indemnified in any case. For all of these purposes, we inform you that Telefónica may notify and collaborate with the enforcement and judicial authorities if any breach of the applicable laws is detected or if a crime or felony is suspected.