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ACCREDITATION MEMORANDUM OF UNDERSTANDING (ELECTRONIC SELF-SERVICE)

Between The TAN2000 International Regulatory Corporation (a Connecticut Benefit Corporation) and Accrediting Entity ____________________ (a _____________________________)

This memorandum of understanding is intended to convey the commitment of both organizations to the trust and accountability necessary to build a strong entrepreneurial community.

ADOPTION OF COMMUNITY STANDARDS

Accrediting Entity agrees that it, through its authorized representatives, are electing to become accredited because of a strong commitment to a strong entrepreneurial community. Trust is the cornerstone of the community, and the Board of Governors exist to promote the trust within the community, for the mutual benefit of everyone in the community.

Community Standards, as adopted by the Board of Governors upon recommendation from the Corporation’s Board of Directors and Senior Management Team, on behalf of the staff and leadership of the Corporation, are enforceable on all Accreditation Holders to facilitate trust and accountability. There is a mechanism that will allow a check on the power of the Board of Governors, that requires a substantial pushback by all Accreditation holders.

VOTING RIGHTS AND BOARD OF GOVERNORS JURISDICTION

Accrediting Entity gets voting rights for the membership of both System and Jurisdictional Board of Governors. In consideration for these voting rights, Accrediting Entity agrees to uphold the community standards and processes adopted by the Board of Governors and enforced through the processes and programs enacted by this Corporation and its personnel. It is understood that the actions and decisions of the System Board of Governors and the Board of Governors for the Jurisdiction(s) in which the Accredited Entity has any operations are applicable to the Accredited Entity.

Accrediting Entity has 1 vote for the ________________________ for the System Board of Governors, and the Board of Governors for ______________________________. Should the Accrediting Entity operate in other jurisdictions, it is Accrediting Entity's responsibility to notify the Benefit Corporation so that this Agreement may be amended appropriately. Such voting rights are subject to meeting the Endorsement/Certification requirements in order to demonstrate the organization’s adherence to the community standards and processes, and in certain cases, regulatory requirements as required by law.

CONFLICT OF INTEREST RULES

The Benefit Corporation, due to the nature of its programs and services which include services that fall under regulatory authority and statutory registration exemptions provided by state and federal laws and regulations, requires a level of impartiality to the marketplace, similar to a utility company, in order to implement the Community Standards as advanced and adopted by the Board of Governors. Therefore, this agreement is constructed to comply with conflict of interest principles generally required for the Securities industry, to enable the Benefit Corporation to carry out its purpose and mission.

GENERAL ACCREDITATION PROVIDED; ENDORSEMENT PROCEDURE

This memorandum of understanding will provide the basic level of general accreditation. Within the programs, and consistent with Board of Governors’ standards, certain functions require additional endorsements. Such endorsements may be added or removed at a later date through the amendment process. Such documents shall be countersigned by an authorized representative of both organizations and shall not be effective until it is accepted by an authorized representative of both organizations.

In order for Accrediting Entity to receive endorsements, Accrediting Entity must comply with regulatory requirements if applicable for the area of endorsement, and the standards adopted by the Board of Governors for the area of endorsement. Such agreement must be signed by a representative of the Corporation that is directly authorized, by both the Board of Governors and the Board of Directors of the Corporation, to award such endorsements.

Once endorsements are awarded to Accrediting Entity, Accrediting Entity understands and agrees that continual compliance with the regulatory requirements, if applicable, along with the standards and processes adopted by the Board of Governors for the area of endorsement, must be adhered to at all times, and that failure to adhere to or comply with such processes and standards, or regulatory requirements, will result in the revocation of the endorsement and sanctioning may be applicable.

Accrediting Entity understands that their endorsement and accreditations will be publicly reported for the purposes of developing and further building community trust in the entrepreneurial community and the Corporation’s mission of advancing a fair and consistent marketplace and ecosystem for all early stage entrepreneurs. Furthermore, Accrediting Entity understands and agrees that if criminal violations are discovered, the Corporation may be required to report such criminal activity to the appropriate regulatory authorities and Accrediting Entity understands that the Corporation cannot accept any liability for such reporting.

ENDORSEMENTS INCLUDED IN THIS AGREEMENT

As part of this Agreement, the following Endorsement Forms (STD-3A Series Forms) is being made a part of this Agreement:

EXECUTION

In consideration of this document being electronically executed, the following representative certifies, under the penalty of perjury, that:

The representative understands that electronic signature information will be collected, including proof of their use of this system, such as their IP address and other identifying information, and agrees to undertake any additional certifications that are necessary to effect this Agreement.

WARNING: Submission of a false document to TANRC for accreditation purposes will subject that individual to personal liability under the Operating Rules and Standards of The TAN2000 International Regulatory Corporation. Any intentional false statements may cause the submitter of such statements to face sanctions, up to and including a permanent ban on access to TANRC regulated marketplaces, which means that individual will not be able to be employed by any TANRC Accredited entity in any capacity. Such actions are publicly reportable through the TANRC Online Record of Sanctions.


EDUCATION MEDIA ENDORSEMENT TO THE ACCREDITATION AGREEMENT (ELECTRONIC SELF-SERVICE)

Between The TAN2000 International Regulatory Corporation (a Connecticut Benefit Corporation) and Accrediting Entity ____________________ (a _____________________________)

This agreement supersedes all previous versions, and this process is governed by the Board of Governors (also known legally as the Benefit Board). Only the latest version of this agreement will be accepted once it has been approved by the Board of Governors.

PURPOSE

The purpose of this Agreement is to facilitate the endorsement necessary to allow __________________________ to formally be recognized as an Accredited Education Media Provider to all programs and marketplaces regulated by The TAN2000 International Regulatory Corporation.

Endorsements to Accreditations, and the operation and standards of Endorsements and Accreditation, are governed by the Board of Governors of the Corporation. In order for the organization to be eligible to vote and/or participate in the community standards setting process and community trust building processes, their Accreditation Agreement with the Corporation, and all Endorsements, must be in good standing.

PARTIES

The “Benefit Corporation” shall refer to The TAN2000 International Regulatory Corporation, a Connecticut Benefit Corporation headquartered at 2275 Silas Deane Highway, Third Floor, Devlin & Hale Suite, Rocky Hill, Connecticut.

The “Accredited Entity” shall refer to __________________________, a __________________________ headquartered at __________________________.

ANNUAL CERTIFICATION AND PAYMENT REQUIRED

Accrediting Entity understands that annual recertification of this Endorsement is required under Benefit Corporation’s Operating Standards and Procedures. An annual fee in the amount of ___________________________, as approved by the Board of Governors, is due and payable within 30 days of execution of this Endorsement. This Endorsement is not effective until this fee is received and if the fee is not received within 30 days, this Endorsement will be terminated and the termination will be reported publicly through the TANRC Online Record of Accredited Entities.

Accrediting Entity further understands that renewal of this Endorsement must be completed no later than 7/21/2020, otherwise, this Endorsement will be automatically revoked and reported publicly through the TANRC Online Record of Accredited Entities. Automatic revocation of the Endorsement will be reported as an involuntary automatic revocation of endorsement.

Accrediting Entity agrees to follow the most current Renewal Procedures as adopted by the Board of Governors of the Corporation, and agrees that should renewal be desired, that renewal shall commence on or before 30 days prior to the expiration of this Annual Certification. Failure to do so may result in automatic revocation of endorsement, pursuant to the preceding paragraph.

Should the Accrediting Entity require a change in Endorsements or ceases to operate, Accrediting Entity agrees that it shall request voluntary termination of this Endorsement with an effective date of the voluntary termination of this endorsement no later than 7/21/2020.

NO REFUND OF ANNUAL CERTIFICATION FEE

The annual fee per Endorsement as approved by the Board of Governors, due and payable under this Endorsement, shall not be refundable under any circumstances as it is used to defray the costs of operating the necessary functions of this Endorsement.

ADDITIONAL ACCESS TO MARKETPLACES GRANTED UNDER THIS ENDORSEMENT

Accrediting Entity, provided that this Endorsement is active and in good standing, and in compliance with the Operating Standards and Regulations that are applicable to all Education Media Providers, shall be granted the ability to access Marketplace functions that require the Education Media General Endorsement.

Certain types of Education Media Providers require an additional Endorsement to access those functions within all Regulated Marketplaces of the Benefit Corporation. Accrediting Entity understands that they may not access such functions without the required additional Endorsements as stipulated by the Board of Governors.

REPORTABILITY AND SANCTIONS

Accrediting Entity understands that it is subject to the authority of the Board of Governors and agrees that should they be found in violation of approved Operating Standards and Regulations, they may be assessed sanctions against this Endorsement or their Accreditation Agreement, and such sanctions may be publicly reported. Sanctions may include fines, suspension of Endorsement or Accreditation privileges, and in extreme cases, termination of the Endorsement or the Accreditation Agreement.

Accrediting Entity further understands that if the Accrediting Entity operates in a field subject to external governmental regulation, the Benefit Corporation may be required to report activity of the Accrediting Entity to the appropriate regulatory authorities and Accrediting Entity understands that the Corporation cannot accept any liability for such reporting.

JURISDICTIONS THIS AGREEMENT IS APPLICABLE TO; EDUCATION MEDIA PROVIDER TRADE GROUP MEMBERSHIP MAY BE REQUIRED

This Endorsement permits the Accrediting Entity to broadcast as an Education Media Provider in all marketplaces and programs regulated by the Benefit Corporation that do not require membership in an Accredited Education Media Provider Trade Group. Should an Education Media Provider wish to broadcast within the jurisdiction of an Accredited Education Media Provider Trade Group, Accredited Entity agrees that it will apply for and hold active membership in such Accredited Education Media Provider Trade Group, and if Accredited Entity fails to do so yet broadcasts materials or items within the jurisdiction of any Accredited Education Media Provider Trade Group, it will be deemed a violation of Operating Standards and Regulations, and subject to sanctions under this Agreement, in addition to any other remedies available to those whose rights have been violated by failure of the Accredited Entity to follow the requirements related to violating the jurisdictional requirements of any Accredited Education Media Provider Trade Group.

Accredited Entity understands that Accredited Education Media Provider Trade Groups report active changes of its membership as required by the Benefit Corporation and that such data may be used to notify the Benefit Corporation of noncompliance with this Endorsement by Accredited Entity, and agrees that Benefit Corporation, should it be automatically or manually notified of noncompliance by authorized Accredited Education Media Provider Trade Group of the Accredited Entity’s nonperformance or nonconformance, that Benefit Corporation may implement sanctions without further notice as approved by the Board of Governors, that Benefit Corporation may report publicly on any sanctions taken and may cause the noncompliant Education Media Provider to be reported to other self regulatory or regulatory authorities or other interested parties, and that the Benefit Corporation shall have no liability to the Accredited Entity for doing the same.

Accredited Entity understands that a listing of Education Media Trade Groups and jurisdictional areas may be obtained by contacting the Benefit Corporation’s Chief Operating Officer for Education or his/her designee.

TYPE OF ENDORSEMENT

This agreement is an Initial Endorsement.

EDUCATIONAL MEDIA FORMATS/VENUES ENDORSED UNDER THIS AGREEMENT

This Endorsement permits the Accrediting Entity to operate as an Education Media Provider for the following formats/venues in all marketplaces and programs regulated by the Benefit Corporation: ____________________________________

This version of the Agreement only authorizes Education Media Providers to broadcast in the media formats/venues in all regulated marketplaces and jurisdictions which do not require additional regulation. Should Accrediting Entity require the ability to broadcast in the media formats/venues content that is subject to additional regulation or jurisdictions, Education Media Provider understands that they cannot offer such broadcasts in all regulated marketplaces or jurisdictions prior to amending this agreement with an authorized representative from the Benefit Corporation with the appropriate regulatory forms or recieving the appropriate membership in Accredited Education Media Trade Groups as identified above.

Should the media formats/venues that the Accrediting Entity offers under this Endorsement change, Accrediting Entity understands that this Endorsement must be amended and shall cause this Endorsement to be amended in accordance with the Benefit Corporation’s Procedure on Amendments to Endorsements, including the payment of any applicable fees to facilitate such amendment, as approved by the Board of Governors.

EXECUTION

In consideration of this document being electronically executed, the following representative certifies, under the penalty of perjury, that:

The representative understands that electronic signature information will be collected, including proof of their use of this system, such as their IP address and other identifying information, and agrees to undertake any additional certifications or amendments that are necessary to effect this Endorsement.

WARNING: Submission of a false document to TANRC for accreditation purposes will subject that individual to personal liability under the Operating Rules and Standards of The TAN2000 International Regulatory Corporation. Any intentional false statements may cause the submitter of such statements to face sanctions, up to and including a permanent ban on access to TANRC regulated marketplaces, which means that individual will not be able to be employed by any TANRC Accredited entity in any capacity. Such actions are publicly reportable through the TANRC Online Record of Sanctions.

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