Amendment to nCino, LLC Software Service Agreement between nCino OpCo, Inc. and Live Oak Bank
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Summary
This amendment updates the existing Software Service Agreement between nCino OpCo, Inc. and Live Oak Bank. Effective June 7, 2023, Live Oak Bank will reduce certain subscription services, as detailed in the attached exhibit, and will no longer have access to those services. The amendment also adjusts the annual subscription fees accordingly. All other terms of the original agreement remain unchanged. Any further changes must be made in writing and signed by both parties.
EX-10.2 5 7 lob-20230630xex1025.htm EX-10.2.5 Document
Exhibit 10.2.5
Amendment
This Amendment (“Amendment”) is effective as of the date that both parties have executed this Amendment (the “Amendment Effective Date”) and amends the nCino, LLC Software Service Agreement dated November 1, 2012, as amended (“Agreement”) by and between nCino OpCo, Inc. ("nCino") and Live Oak Bank ("Subscriber"). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings assigned to them in the Agreement.
In exchange for the consideration detailed herein, and other good and valuable consideration the receipt of which is acknowledged by both parties, the parties do hereby agree as follows:
1.Subscriber wishes to make changes to the Subscription Services as set forth in Exhibit A below, which are to reduce certain Subscription Services (the “Reduced Subscription Services”). Accordingly, commencing on June 7, 2023: (i) Attachment A to the Agreement shall be amended to reflect the Reduced Subscription Services as set forth in Exhibit A, and (ii) Subscriber will no longer have access to the Reduced Subscription Services.
Exhibit A
The Subscription Services in Subscriber’s Org ID 00D3k000000uAXY are hereby amended as follows:
Product | Quantity | Price | Annual Subscription Fees | ||||||||
nCino Premium Seat FSC | -15 Operator(s) | $145/Operator/Month | -$26,100 | ||||||||
2.Except as set forth in this Amendment, the Agreement is unaffected and shall continue in full force and effect in accordance with its terms. Any further modification or amendment to the Agreement must be set forth in writing in a document executed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the dates shown below their respective signatures.
nCino | Subscriber | ||||
Signature: /s/ Charles Ragland | Signature: /s/ Renato Derraik | ||||
Name: Charles Ragland | Name: Renato Derraik | ||||
Title: Global Revenue Operations | Title: Chief Inf. and Digital Officer | ||||
Date: 7/21/2023 | Date: 7/21/2023 | ||||
