END USER LICENSE AGREEMENT For REAPER IMPORTANT: This REAPER ("Software") End User License Agreement ("EULA")

is a leg al agreement between you (either an individual or, if purchased for an entity, a n entity) and Cockos Incorporated ("Cockos"). READ IT CAREFULLY BEFORE COMPLETI NG THE INSTALLATION PROCESS AND USING THIS SOFTWARE. It provides a license to u se this software and contains warranty and liability disclaimers. BY DOWNLOADIN G OR INSTALLING THE SOFTWARE YOU ARE INDICATING YOUR FULL AND VOLUNTARY ASSENT T O THE TERMS OF THIS LICENSE. If you do not agree to all of the following terms, do not download or install the software or discontinue use immediately and dest roy all copies on your computer. 1. License Grants and Purchase: 1.1 Trial Period License. You may download and use the Software for free for s ixty (60) days after installation ("Trial Period"). During the Trial Period, Co ckos grants you a limited, non-exclusive and non-transferable license to copy an d use the Software for evaluation purposes only. The evaluation copy of the Soft ware is fully functional. 1.2 License After Trial Period. If you continue to use this Software after the Trial Period, you are required to purchase a license. The license fee varies ac cording to your use, as follows: a) A commercial license currently is $225.00 USD. b) The following users are granted permission to purchase a discounted licens e for $60 USD: i) You are an individual, using REAPER only for personal and non-commercial u ses. ii) You are either an individual or business, using REAPER for a commercial p urpose, and your annual gross revenue derived from commercial activity does not exceed $20,000 USD. iii) You are an educational or other non-profit organization. 1.3 To Purchase License. To purchase one of the licenses specified above, visi t our web site at http://www.reaper.fm and follow the links. 1.4 Those interested in licensing REAPER for any other purpose should contact Co ckos Incorporated at licensing@cockos.com. 1.5 Subject to the terms and conditions of this Agreement, you are granted a li mited non-exclusive license to use the Software on one (1) computer any given ti me. This License is not a sale of the Software or any other copy. Cockos retai ns title and ownership of the Software and documentation, including all intellec tual property rights. No title to the intellectual property in the Software is transferred to you. You will not acquire any rights to the Software except as e xpressly set forth herein. 1.6 Said purchased license shall apply to the current version of REAPER and any future versions of REAPER up through and including version 5.99. 1.7 Cockos reserves the right within its sole discretion to modify the terms of its license for all future versions of REAPER. 2. End User Support: At Cockos discretion, Cockos may provide limited support t hrough email or discussion forums at http://www.reaper.fm. 3. License Restrictions: 3.1 You may not alter, merge, modify, adapt or translate the Software, or decom pile, reverse engineer, disassemble, or otherwise reduce the Software to a human

-perceivable form. 3.2 You may not sell, rent, lease, sublicense, transfer, resell for profit or o therwise distribute the Software, its documentation, or any part thereof. 3.3 You may not modify the Software or create derivative works based upon the S oftware. However, you may develop, distribute, and sell plug-ins and extension software that interacts with REAPER using the VST, Audio Units, or REAPER Extensio ns APIs, provided that such activity does not conflict with any other provision of this Agreement. (Use of third party APIs may require you to enter into addit ional legal agreements with the third party. Use of the REAPER Extensions API doe s not require any additional legal agreement.) 3.4 You may not remove or obscure any copyright and trademark notices relating to the Software. 3.5 Note that specific included libraries/executables, including SoundTouch, MP 3DEC, cdrecord.exe, and FFmpeg, are licensed under the GNU GPL and/or LGPL; thes e libraries/executables do not have the above restrictions, and we make their so urce code for these libraries available at http://www.reaper.fm/lgpl 4. Ownership and Intellectual Property Rights: This Agreement gives you limit ed rights to use the Software. Cockos retains any and all rights, title and int erest in and to the Software and all copies thereof, including copyrights, paten ts, trade secret rights, trademarks and other intellectual property rights. All rights not specifically granted in this Agreement, including International Copy rights, are reserved by Cockos. The structure, organization and code of the Sof tware are valuable trade secrets and confidential information of Cockos. 5. Disclaimer of Warranties: Cockos does not warrant that the Software is error free. Cockos offers the Software as is and with all faults and by using the Softwa re, you accept it as is and with all faults . Cockos disclaims all other warranties, either express or implied, including but not limited to implied warranties of m erchantability and fitness for a particular purpose. Should the Software prove defective, you assume the entire cost of all necessary servicing, repair or corr ection. Some jurisdictions may not allow the exclusion of implied warranties, s o the above disclaimers may not apply to you. 6. No Refund: Because the Software is provided free of charge during the Trial Period to allow potential customers to evaluate and test it before paying the l icense fee, Cockos enforces a strict no-refund policy. Please evaluate and test the Software carefully during the Trial Period. Once you pay the license fee, your payment is final and may not be reimbursed. 7. Limitations on Liability: To the maximum extent permitted by applicable law , Cockos shall not be liable for any special, incidental, indirect, or consequen tial damages whatsoever, (including, but not limited to, damages for loss of pro fits or loss of confidential or other information, for business interruption, fo r personal injury, for loss of privacy, for failure to meet any duty including o f good faith or of reasonable care, for negligence, and for any other pecuniary or other loss whatsoever), arising out of or in any way related to the use or in ability to use the Software, the provision of or failure to provide support serv ices, or otherwise under or in connection with any provision of this EULA, even in event of fault, tort (including negligence), strict liability, breach of cont ract or breach of warranty of Cockos, and even if Cockos has been advised of the possibility of such damages. In any case, Cockos entire liability under the pro visions of this EULA or the applicable law shall be limited to the amount paid b y you for the Software. Some jurisdictions may not allow the exclusion of conse quential damages, so the above limitations and exclusions may not apply to you. This Agreement sets forth Cockos entire liability and your exclusive remedy with

respect to the Software. 8. Termination of EULA: This Agreement is effective until terminated. This Ag reement, including the license to use the Software, will terminate automatically if you fail to comply with any term or condition. 9. General: 9.1 Cockos reserves the right at any time to cease the support of the Software and to alter prices, features, specifications, capabilities, functions, licensin g terms, release dates, general availability or other characteristics of the Sof tware. 9.2 If any provision hereof shall be held illegal, invalid or unenforceable, in whole or in part, such provision shall be modified to the minimum extent necess ary to make it legal, valid and enforceable, and the legality, validity and enfo rceability of all other provisions of this Agreement shall not be affected. 9.3 This Agreement is to be governed by and construed in accordance with the la ws of California. Each party for itself and its property, hereby submits to the jurisdiction and venue of San Francisco, California in relation to any claim or dispute that may arise with respect to this Agreement and any judgment that may be rendered in connection with any such claim or dispute. This Agreement will be will be interpreted as if the agreement were made between California resident s and performed entirely within California. 9.4 You may not assign this Agreement. Any attempt by You to assign this Agreeme nt will be null and void. 9.5 This Agreement contains the entire agreement between Cockos and You related to the software and supersedes all prior agreements and understandings, whether oral or written. All questions concerning this Agreement shall be directed to l icensing@cockos.com. 2013 Cockos Incorporated