NeuralVault Software Licence (EULA) | Perpetual Technologies

Perpetual Technologies AI Ltd Version 2.6. Published 14 October 2026. Applies to NeuralVault 2.0 and later. Supersedes version 2.5 of 24 September 2026, which superseded version 2.4 of 6 September 2026, which superseded version 2.3 of 18 August 2026, which superseded version 2.2 of 16 August 2026, which superseded version 2.1 of the same date, which superseded version 2.0 of the same date, which superseded version 1.0 of 1 August 2026. Sections 15.7 to 15.11, 15.13 and 15.14 list what changed.

1. This agreement

This End User Licence Agreement ("Agreement") is between Perpetual Technologies AI Ltd, a company registered in England and Wales, company number 17330522 ("we", "us", "our") and you, the person or organisation installing or using the NeuralVault desktop application ("the Software").

By installing or using the Software you accept this Agreement. If you do not accept it, do not install or use the Software, and you may request a refund in line with section 12.

This Agreement covers the Free Edition as well as the paid ones. You do not need an Account, a Subscription or a payment to be bound by it, and it keeps applying if a Subscription ends.

This Agreement governs the compiled application only. The NeuralVault source code is proprietary and is not licensed to you under any circumstances. See LICENSE.

2. Definitions

"Consumer" means an individual acting wholly or mainly outside their trade, business, craft or profession, as defined in the Consumer Rights Act 2015.

"Business User" means any other user, including companies, partnerships, sole traders acting in the course of business, and public bodies.

"Vault" means the folder of files on your own storage that the Software reads and writes as its memory.

"Model Provider" means any third-party artificial intelligence service the Software connects to at your direction, including a routing service such as OpenRouter and the provider it passes a request to, and including one reached through Managed Usage.

"Edition" means one of the commercial packages the Software runs as: Free, Personal or Business. Which features belong to which Edition is published in the Editions table on perpetualtechnologies.co.uk and in the product documentation shipped with the Software.

"Account" means the NeuralVault account you create with us, identified by your email address.

"Subscription" means a recurring paid plan attached to an Account, giving it a paid Edition for as long as it is paid for.

"Concurrent Session" means one running copy of the Software signed into your Account at a given moment. A Concurrent Session is not an installation: closing the Software ends the session, and the same machine starting it again takes a session once more.

"Device Identifier" means the value the Software uses to tell one of your running copies from another. It is generated on the machine and is not a hardware serial number. The privacy notice describes it in full.

"Licence File" means the signed, time-limited file the Software reads to know which Edition it is entitled to run as.

"Managed Usage" means the AI service built into the Software that we provide, where you pick a model from our list and the request is sent through a service we operate, to a Model Provider under our own account, and paid for from your Usage Credit. It is the alternative to connecting a Model Provider account of your own or running a model on your own hardware.

"Usage Credit" means the prepaid balance on your Account that pays for Managed Usage. It is counted in credits, where one credit is worth one penny. It has two parts: Top-up Credit, which you buy one purchase at a time, and Monthly Allowance, which comes with a monthly plan.

"Service Fee" means the fee we charge on top of the credit itself when you buy Usage Credit, shown as its own line at checkout.

3. Licence granted to you

3.1 The grant. Subject to your compliance with this Agreement and to payment of any applicable fee, we grant you a non-exclusive, non-transferable, revocable licence to install and use the Software for your own purposes.

3.2 The Free Edition. The Free Edition needs no Subscription and no payment. It needs an Account, which is free to create, because the Account is how the Software knows which Edition you are entitled to. It is not a trial and it does not expire. This Agreement applies to it in full.

3.3 Named user, and simultaneous use. Unless your order confirmation or a separate written agreement says otherwise, a Subscription is granted per named user.

You may install the Software on as many devices as you control. What is limited is how many copies run at the same time. The number of Concurrent Sessions your Subscription allows is the number stated for your Edition at the point of purchase and in your order confirmation. As at the date of this version, that is one for Personal and five for Business.

It is a limit per named user, not a way to share one Subscription. Use by anyone other than the named user is outside the licence, whether or not sessions are free at the time.

If you are already at your limit, the Software will say so and let you end a session on another machine yourself, from within the application. You do not need to contact us, and you do not need access to the other machine. A machine that crashes, loses its connection or is simply switched off releases its session on its own shortly afterwards.

Because the limit is on simultaneous use, replacing, reinstalling or losing a device costs you nothing. There is no permanent allowance to use up.

3.4 Fees and renewal. This section covers Subscription fees. Usage Credit is covered by section 12A. The fee for a Subscription, the billing period and the currency are the ones shown at checkout and repeated in your order confirmation. A Subscription renews automatically for a further period at the end of each period until it is cancelled. We will tell you before any change to the fee takes effect, and you may cancel instead of accepting it. Cancelling is described in section 12.

3.5 How the Software checks a Subscription. On an install that has been signed into, the Software contacts our licence service periodically while it is online, and receives a signed Licence File valid for a short period, currently seven days. It then checks that file on your own machine. Ordinary use of the Software needs no connection to us. Only renewing the Licence File does. Any successful check restores the full period. Section 7.4 and the privacy notice say what that request contains, and section 3.6 says what happens when it stops succeeding.

3.6 If a Subscription ends, the Software degrades rather than stops. When a Subscription lapses, is cancelled, is refunded or is not renewed, the Licence File stops being renewed and expires within its remaining period. At that point the Software reverts to the Free Edition. It does not stop working, it does not lock, it does not delete anything, and it does not hold your work to ransom. *

*Corrected 2026-10-14: this describes the Software before every build had to hold a current signed Licence File to run. Now, if the Licence File expires and no renewal has succeeded, the Software does not run beyond signing in, checking its status, getting an update and sending a bug report, and there is no extra grace period after the seven days. It deletes nothing, and your Vault is untouched. To recover, go online and sign in: the next successful check issues a new Licence File and the Software runs again. If your Subscription has ended and a check succeeds, the Licence File issued is for the Free Edition (where the release channel for your build is open), which is the reversion this section describes.

Your Vault is not affected in any way. Your notes stay on your own disk, as ordinary Markdown files, readable with any text editor and with no NeuralVault installed at all. No licence state, expiry or revocation can reach them.

What you lose is access to the features listed for the paid Edition you were on. Anything already written into your Vault stays there.

3.7 Enterprise, site, white-label and reseller licences are granted only under a separate written agreement and are not covered by this Agreement.

4. What you may not do

You may not:

distribute, resell, sublicense, rent, lease or lend the Software;
remove, obscure or alter any copyright, trade mark or proprietary notice;
use the Software to build a competing product, or to train a machine learning model on the Software itself;
circumvent or attempt to circumvent any licensing, activation, Concurrent Session limit or usage limit, including by editing or forging a Licence File, or by interfering with the licence check;
share your Account credentials with anyone outside your licence scope, or run more Concurrent Sessions than your Subscription allows.

4.1 Your statutory rights are not affected. Nothing in this section restricts anything you are permitted to do by law that cannot be excluded by contract. In particular, under sections 50A to 50C of the Copyright, Designs and Patents Act 1988 you retain the right to make a necessary back-up copy, to observe, study and test the functioning of the Software, and to decompile it where the conditions in section 50B(2) are met for the purpose of achieving interoperability with an independently created program. Section 296A of that Act makes any term purporting to remove those rights void, and we do not attempt to remove them. If you need interoperability information, ask us first at the address in section 16 and we will normally provide it, which is usually faster than decompiling.

5. Ownership

The Software is licensed, not sold. We and our licensors retain all intellectual property rights in the Software, including its source code, architecture, design and know-how. Nothing in this Agreement transfers any of those rights to you.

6. Third-party components

The Software incorporates third-party open-source components, each licensed by its own owner under its own terms. Those terms are reproduced in full in THIRD-PARTY-NOTICES.md, which is distributed with the Software. Where a third-party licence grants you rights broader than this Agreement in respect of that component, the third-party licence prevails for that component.

7. Your data

7.1 Your Vault is yours. We claim no ownership of, and no licence to, the content of your Vault or anything you create with the Software. Your Vault is stored as ordinary files on storage you control.

7.2 Local-first, but not always local-only. The Software is designed to keep your data on your own hardware. However, if you configure it to use a Model Provider, the content you send to that provider leaves your machine and is handled under the terms and privacy policy of that provider and of any routing service it passes through, such as OpenRouter. With your own provider account, that relationship is yours. With Managed Usage, we hold it under our own account, and the request also passes through a service we operate on the way: see section 12A, and section 3.1 of the privacy notice for what that service reads and what we keep. You are responsible for choosing your providers and for deciding what is sent to them. The Software is designed to ask for your approval before data leaves the machine, except for work you have set to run on its own, such as agent jobs you have queued or scheduled, which sends when it runs. You should not rely on it to catch a configuration you have approved. The Software also contacts our own licence service if you have signed into an Account: see 7.4.

7.3 Our processing. Where we process personal data in connection with your Account, your Subscription or your licence, for example your email address for sign-in and support, we do so as controller under UK GDPR. Our privacy notice is shipped with the Software as PRIVACY.md and published at perpetualtechnologies.co.uk. It names the lawful basis for each purpose, how long we keep each thing, who processes it for us, and your rights.

7.4 What the licence check sends. Every install of the Software signs into an Account, the Free Edition included, and a signed-in install contacts our licence service while it is online. Each request carries four things and nothing else:

your sign-in, as a short-lived access token that the Software obtains from the sign-in it holds in your operating system's credential store;
a Device Identifier, a random value generated on your machine, which is not a hardware serial number;
the application version; and
the build channel the Software was built as (stable, beta, test or dev).

The Software makes a full renewal about every four hours while it is open. Between renewals, about every ten minutes while it is open, it sends a shorter version of the same request, marked as a keep-alive, which tells us that session is still running and issues no Licence File. In return a renewal receives a signed Licence File, valid for seven days and never beyond the end of the period you have paid for. The request contains nothing from your Vault: no note content, no file names, no prompts, no model outputs, and no record of what you did in the application.

We keep a record of each Licence File we issue (its identifier, your Account, the Device Identifier, the Edition, the Subscription tier, any add-on features, the build channel, its expiry and the time it was issued), a list of the devices that have run on your Account, and a short-lived record of which sessions are running now. The privacy notice, in sections 3.6 and 6, sets out the detail, including how long each is kept and what happens while you are offline.

7.5 Usage telemetry. The Software can send anonymous usage telemetry. It is always on, and there is no switch for it. The first-run setup screen says so in one plain sentence, and Settings, under Privacy, shows what is sent. It is recorded as on each time the Software starts, including for an installation that had it switched off before 15 October 2026. If you are signed in, it is also recorded on your Account.

When it is on, the Software sends, tied to a random token generated on your machine (which is deleted by Remove my data, so the next launch starts a new one):

a daily ping of the token, the application version, your operating system family and your Edition;
timings, in milliseconds, with whether each succeeded, for a fixed list of operations such as starting up, searching and an AI reply;
counts of which screens were opened; and
counts of problems, such as the background process stopping or an update failing, under fixed names.

The private Test and Dev builds add one word saying which of the two they are. Every name in those lists is fixed in the Software, so free text cannot be sent. It sends nothing from your Vault: no note content, no file names, no prompts, no model outputs, no agent inboxes, no audit records and no permission settings, and no account identifier or licence key. Section 3.9 of the privacy notice carries the full list and what we keep. It does not reduce the functionality of the Software or affect your Subscription in any way, and we do not make any feature conditional on it.

7.6 Access inside your own organisation. Where the Software is run by more than one person, for example a Business install with several departments, you are the controller of everything inside your Vault and we are not a party to it. Access between roles, folders and agents is configured and enforced on your own hardware: an agent may only open a folder that its own configuration lists, that your role permissions allow, and, where a plugin is involved, that the plugin was granted, and those conditions are combined so that widening one cannot widen the others. Coordination traffic between agents, including their assignment inboxes, and the audit record of what each agent did, are written into your Vault and stay there.

We do not hold your roles, your folder permissions, your inboxes or your audit record, we cannot inspect or override them, and we cannot recover them. Setting those permissions correctly is your responsibility, and so is retaining your own backups: if access is removed or a Vault is deleted, we have no copy to restore it from.

8. Artificial intelligence output

The Software orchestrates AI models. AI output can be wrong, incomplete, biased or fabricated, including where it appears confident and well-sourced. Output is generated automatically and is not reviewed by us.

You are responsible for checking output before relying on it, and you must not rely on it as legal, medical, financial or other professional advice. Where you allow agents to act on your files or connected business systems, you are responsible for the scope of access and the permissions you grant them.

9. Beta software

NeuralVault is beta software. It may contain defects, may behave unpredictably, and its features may change or be withdrawn. Do not use it as the sole store of anything you cannot afford to lose. Keep independent backups of your Vault. This section does not reduce your statutory rights under section 11.

10. Updates

We may provide updates, and some may be applied automatically to keep the Software secure. Business deployments may control update timing. We are not obliged to provide updates, support or any particular feature indefinitely.

Today the Software checks for a newer version only when you press the button in Settings. It does not check on its own, and it does not download or install anything without you asking.

11. Warranties, and your statutory rights

11.1 If you are a Consumer. You have statutory rights under the Consumer Rights Act 2015 which cannot be excluded or restricted, including that digital content must be of satisfactory quality, fit for a particular purpose made known to us, and as described. Section 47 of that Act makes any term void to the extent it tries to exclude those rights. Nothing in this Agreement affects them. If the Software is faulty you may be entitled to a repair, replacement or a price reduction, and in some cases a refund.

11.2 If you are a Business User. To the fullest extent permitted by law, and except as expressly stated in this Agreement, the Software is provided "as is" and we exclude all implied warranties, including satisfactory quality, fitness for purpose and non-infringement. You accept that the Software has not been developed to meet your individual requirements.

11.3 Availability of the licence service. We aim to keep the licence service available, and the Software is deliberately built so that a short outage costs you nothing: it keeps running on the Licence File it already holds. We do not warrant uninterrupted availability. If an outage on our side prevents renewal for long enough that your install drops to the Free Edition, tell us and we will put it right, including by extending your Subscription by the time lost. *

*Corrected 2026-10-14: the Software keeps running on the Licence File it holds only until that file expires, seven days after the last successful check. If an outage then prevents renewal, the Software does not drop to the Free Edition: it locks, as the correction note to section 3.6 describes, until a check succeeds. The commitment to put it right and extend your Subscription is unchanged.

12. Refunds and cancellation

12.1 Consumers, and the 14 day right to cancel. Consumers buying digital content online normally have a 14 day right to cancel under the Consumer Contracts Regulations 2013. That right is lost once download or streaming begins, if you gave express consent to begin and acknowledged losing the right. This does not affect your separate rights where the Software is faulty.

12.2 Cancelling a Subscription. You may cancel at any time. Cancellation takes effect at the end of the period you have already paid for. You keep the paid Edition until then, and the Software reverts to the Free Edition when the Licence File expires after it, as described in section 3.6. We do not refund part periods, except where the Software is faulty or where the law requires it. We will send you a reminder before each renewal, and cancelling will never be harder than the sign-up was.

12.3 Non-payment. If a payment fails or is reversed, we may suspend the Subscription. The practical effect is the same as section 3.6: renewal stops, the Licence File expires, and the Software reverts to the Free Edition. We will tell you before that happens where we reasonably can. Nothing is deleted, and paying again restores the paid Edition. *

*Corrected 2026-10-14: sections 12.2 and 12.3 say the Software reverts to the Free Edition when the Licence File expires. That happens when a check succeeds after the Subscription ends. If no check succeeds before the file expires, the Software locks instead, as the correction note to section 3.6 describes, until you go online and sign in.

12.4 Refunds and chargebacks. Where a payment is refunded or charged back, the Subscription it paid for ends, and section 3.6 applies.

12.5 Business Users are refunded only as set out in the applicable order.

12A. Managed Usage and Usage Credit

Usage Credit is not on sale yet, and monthly plans are not on sale yet. This section is published in advance so the terms are visible before anything is sold rather than after. It applies from the moment you buy Usage Credit or are granted any. Using your own Model Provider account, or a model on your own hardware, never involves Usage Credit and is not affected by anything in this section.

12A.1 What Usage Credit is. Usage Credit is a prepayment for Managed Usage, a service we provide. It is not money, not a deposit, and not an account with a bank or payment institution. It has no cash value except where section 12A.8 or the law gives you a refund. It belongs to your Account, can be used only by the named user of that Account, and cannot be transferred, sold or exchanged. You must be 18 or over to buy it.

12A.2 What it is spent on. Each Managed Usage request is paid for from your Usage Credit. It is charged at the cost the Model Provider reports for that request, converted from US dollars to pounds. Charges are made in whole pence, rounded fairly: a part of a penny is not lost and not charged early, it is carried to your next request, so over many requests you pay the true cost. We convert at the most recent European Central Bank reference rate, checked at least once an hour. If that rate cannot be fetched, we use the last rate we fetched, or, if we hold none, a fixed rate of 0.79 pounds to the US dollar. No further fee is taken per request: our Service Fee is charged once, when you buy the credit (see 12A.4). Whenever the Software can read a model's current price, it shows that model's price per million tokens before you choose it.

12A.3 Which balance is spent first, and what happens at zero. Monthly Allowance is spent before Top-up Credit. Before a request is sent we set aside enough credit to cover the most it could cost, and afterwards we charge the actual cost and return the rest. If your balance cannot cover what a request needs, the request is refused and nothing is charged. Your balance can never go below zero, and we will never charge you for Managed Usage beyond credit you have already bought. There is no automatic top-up: Top-up Credit is only ever added when you buy it yourself. If a request ever costs more than we set aside, the difference is taken from your balance, and any part your balance cannot cover we absorb ourselves. If the Model Provider refuses a request or returns an error instead of an answer, nothing is charged. If a Model Provider returns an answer but does not report its cost, we charge the amount set aside for that request, and section 12A.10 applies if it turns out to be wrong.

12A.4 Buying credit, and the Service Fee. The price of a top-up, the Service Fee and any tax are shown at checkout before you pay. Our payment provider, Stripe, acts as the seller of record for the payment and handles the checkout, tax and payment disputes under its own buyer terms. We supply Managed Usage itself, and we remain responsible for it.

12A.5 Top-up Credit does not expire. Top-up Credit you have paid for stays on your Account for as long as the Account exists. Credit we give you free, for example as part of a promotion, has no cash value, is never refunded, and may carry an expiry date, which we will state when we give it.

12A.6 The Monthly Allowance resets each billing period. A monthly plan's allowance is set to the plan's amount at the start of each billing period. Allowance you do not use in a period does not carry over to the next one. The plan is a Subscription, so sections 3.4, 12.2 and 12.3 apply to it.

12A.7 If you are a Consumer, your 14 day right to cancel. Managed Usage starts as soon as you buy credit, at your request. When you buy credit we will ask you to confirm that you want it supplied straight away. If you cancel within 14 days of buying a top-up, we will refund the part of it you have not used, together with the Service Fee paid on that part. The part already used has been supplied and is not refunded. This does not affect your separate rights where Managed Usage is faulty.

12A.8 When your Account closes, or we stop Managed Usage.

If you close your Account, you may ask us for a refund of any unused Top-up Credit you paid for, together with the Service Fee paid on that part. When you ask us to delete your Account there is a 30 day period before deletion happens: ask for the refund within it, because once the Account is deleted we can no longer see the balance.
If we stop providing Managed Usage, or end this Agreement for any reason other than your breach, we will refund any unused Top-up Credit you paid for, together with the Service Fee paid on that part, without you having to ask.
If we end this Agreement because of your serious or persistent breach, or fraud, unused credit is not refunded, except where the law requires it.
Monthly Allowance and free credit are never paid out in cash.

12A.9 Refunds and chargebacks of a top-up. If a top-up is refunded or charged back, the credit it bought is removed from your balance. If some of that credit has already been used, the value of what was used remains payable, and we may suspend Managed Usage on your Account until it is settled. We will not suspend the Software itself, and your Vault is not affected. Our usage ledger, which records every addition to and deduction from your balance, is the record we rely on, and you can ask us for a copy of your entries at any time.

12A.10 Mistakes in what we charged. If we find that a request was charged incorrectly, we will put it right in either direction and tell you. If you think a charge is wrong, tell us. Please do so within 60 days where you can, because the records are clearer while they are recent. That request does not limit your statutory rights.

12A.11 Who is responsible for what is spent. You are responsible for credit spent by requests you make and by the agents, schedules and other automations you run in the Software. To help you control that, your Account has a daily and a monthly spend limit, which you can change or switch off in the Software. They start at £20 a day and £100 a month, are counted in UTC, and apply to agent jobs as well as to requests you send yourself: a request that would take you past either limit is refused and nothing is charged.

Credit spent because the Software was faulty is not yours to pay for. If an automation spent credit because of a defect in the Software, for example by repeating a request it should not have repeated, tell us and we will restore it.
Credit spent by someone else. Keep your Account credentials to yourself. If you think someone else has used your Account, tell us straight away at the address in section 16. We will restore credit spent after you told us. If you are a Consumer, we will also restore credit spent before you told us, unless you gave your credentials away or were seriously careless with them.

12A.12 Models, providers and prices. The models offered through Managed Usage are run by third-party Model Providers. Which models we offer, what each costs and whether each is available are set by those providers and can change at any time, including without notice. We do not guarantee that any particular model will be offered or will stay available. A model being unavailable or withdrawn does not entitle you to a refund, except where the law gives you one: your credit stays on your Account and can be used on any other model we offer.

12A.13 Using Managed Usage properly. Managed Usage requests are sent to Model Providers under our own account, so how you use it affects us as well as you. You must:

follow the terms and usage policies of the Model Provider whose model you use, and the website terms at perpetualtechnologies.co.uk;
not use Managed Usage for anything unlawful;
not use it to try to get around a model's safeguards;
not use it to resell or provide access to models to anyone else.

If you break these rules, or a Model Provider requires it, we may suspend Managed Usage on your Account. If we do, we will tell you why where we lawfully can, your credit stays on your Account while the suspension lasts, and section 12A.8 applies if the suspension becomes permanent.

12A.14 Changes to the Service Fee. We will give you at least 30 days' notice before we increase the Service Fee. A change never affects credit you have already bought: credit keeps the value in pounds it had when you bought it.

13. Limitation of liability

13.1 We never exclude liability for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation, or for anything else that cannot lawfully be limited. Any attempt to do so elsewhere in this Agreement has no effect.

13.2 Consumers. We are responsible for loss you suffer that is a foreseeable result of our breach or our failure to use reasonable care and skill. We are not responsible for loss that is not foreseeable. Where the Software damages your device or other digital content and that damage was caused by our failure to use reasonable care and skill, we will repair the damage or pay you compensation, in line with section 46 of the Consumer Rights Act 2015.

13.3 Business Users. Subject to 13.1, we are not liable for loss of profit, loss of business, business interruption, loss of anticipated savings, loss or corruption of data, or any indirect or consequential loss. Subject to 13.1, our total liability arising out of or in connection with this Agreement is limited to the greater of the fees you paid us in the twelve months before the claim, counting both Subscription fees and Usage Credit purchases, or £100.

13.4 You are responsible for maintaining backups of your Vault. Our liability for loss or corruption of data you could reasonably have backed up is limited accordingly, subject to 13.1 and to your statutory rights.

14. Term and termination

This Agreement applies from when you first install the Software until terminated.

A Subscription ending is not this Agreement ending. When a Subscription lapses or is cancelled, the Software reverts to the Free Edition under section 3.6 and this Agreement continues to govern your use of it. *

*Corrected 2026-10-14: see the correction note to section 3.6 for what happens when the Licence File expires without a renewal. This Agreement continues to govern your use either way.

You may terminate this Agreement at any time by ceasing use and uninstalling.

We may terminate this Agreement if you materially breach it and, where the breach can be put right, you fail to do so within 30 days of us asking you in writing. On termination you must stop using the Software, including the Free Edition, and uninstall it. Your Vault remains yours, in your own files, and is unaffected by termination.

Sections 5, 6, 7.1, 8, 11, 12A.8, 12A.9, 12A.10, 13 and 15 survive termination.

15. General

15.1 Entire agreement. This Agreement, with your order confirmation, is the entire agreement between us about the Software. This does not limit your remedies for fraudulent misrepresentation.

15.2 Severance. If any provision is found unenforceable, the rest continues in force.

15.3 Transfer. We may transfer our rights and obligations under this Agreement, and we will tell you in writing if we do. It will not affect your rights. You may not transfer yours without our written consent.

15.4 Export and sanctions. You must not use or export the Software in breach of applicable export control or sanctions law.

15.5 Governing law. This Agreement is governed by the laws of England and Wales.

15.6 Jurisdiction. Business Users submit to the exclusive jurisdiction of the courts of England and Wales. If you are a Consumer, you may bring proceedings in England and Wales or, if you live in Scotland or Northern Ireland, in your own courts, and you keep the benefit of any mandatory consumer protection of the country where you live.

15.7 What changed in version 2.0. Version 1.0 described a one-off, per-user licence with no account and no expiry. Version 2.0 described Accounts, Subscriptions and Seats, because that is what is being sold. Specifically: section 1 names our registered company; section 2 defines Account, Subscription, Seat, Edition, Device Identifier and Licence File; section 3 was rewritten and stated a three Seat limit on Personal, how renewal works, and that the Software reverts to the Free Edition rather than stopping; section 4 replaced licence key sharing with Account and Seat terms; section 7.4 is new and states what the licence check sends; section 11.3 is new and covers our own service being unavailable; section 12 now covers cancelling, non-payment and chargebacks; and section 14 makes clear that a Subscription ending is not this Agreement ending.

15.8 What changed in version 2.1, and why it is in your favour. Version 2.0 counted Seats, where a Seat was a device permanently activated against your Account and Personal allowed three of them. That is gone. This version limits Concurrent Sessions: how many copies run at the same time, with no limit at all on how many devices you install on.

The practical differences, all of them relaxations:

Installing on a fourth, tenth or fiftieth machine no longer costs you anything.
Replacing a laptop, reinstalling Windows or losing a device no longer uses up an allowance permanently. Version 2.0 required you to ask us to release the old Seat, and said plainly that there was no self-service way to do it.
You can now end a session on another machine yourself, from inside the application, without contacting us and without access to that machine.
A machine that crashes or goes offline frees its session on its own.

Changed sections: section 2 replaces the definition of Seat with Concurrent Session and restates what the Device Identifier is for; section 3.3 is rewritten around simultaneous use, and the allowance now comes from what was stated at purchase rather than being fixed in this Agreement, because the allowance differs per Edition; section 4 refers to Concurrent Sessions rather than Seats. Nothing else changed, and nothing became more restrictive.

15.9 What changed in version 2.2, and why it was a correction rather than a change of terms. Versions 1.0 to 2.1 named the contracting party as "Perpetual Technologies Limited", registered number 10437941, at that company's registered office.

That was the wrong company. Company 10437941 is a real and unrelated business, incorporated on 20 October 2016, which has no connection to NeuralVault and never had one. Its own details are not reproduced here. The correct contracting party is, and always was, Perpetual Technologies AI Ltd, company number 17330522, incorporated 9 July 2026, registered office in Southend-on-Sea, England (given in full in section 16). That is the company that develops and sells the Software.

No term of this Agreement changed. Sections 1 and 16 now identify the correct company, its number and its registered office. Nothing about the licence, the Concurrent Session limit, refunds, liability or governing law is altered, and nothing became more restrictive. Anyone who installed the Software under an earlier version was in fact dealing with Perpetual Technologies AI Ltd throughout, and this version says so.

Corrected 16 August 2026, before the Agreement was published on the website and before any Subscription was sold.

15.10 What changed in version 2.3. Two new clauses in section 7, both describing things before they exist rather than after.

7.5 discloses an optional usage telemetry feature that is not built. No version of the Software you can install today performs any part of it. It will be opt-in, off on a fresh install and off after an update, and declining it will not reduce functionality or affect a Subscription. Section 3.9 of the privacy notice carries the full detail, and the two are to be read together.
7.6 sets out access between roles inside a single organisation on a multi-person install: who may read what is configured and enforced on your own hardware, we hold none of it, and the backups are therefore yours. This describes behaviour the Software already has and which no earlier version of this Agreement described.

15.11 What changed in version 2.4. One fact, stated in two places, because the Software changed: from v1.1 beta the Free Edition needs an Account, which is free to create, and the Software opens on a sign-in screen. Section 3.2 said the Free Edition "needs no Account", which was true of v1.0 beta and is not true of v1.1 beta. Section 7.4 said a Free install with no Account makes no licence request; a Free install is now signed in like any other and makes the same request, sending the same three things and nothing from your Vault. Nothing else changed: the Free Edition still needs no Subscription and no payment, is not a trial, and does not expire.

Nothing in either clause reduces a right you had under version 2.2.

15.12 How this Agreement changes. We may publish a new version of this Agreement, for example because the Software, the law or what we sell has changed. Each version states what changed in this section. If a change reduces your rights or adds to what you must pay, we will tell you by email or in the Software at least 30 days before it takes effect. If you do not accept it, you may cancel your Subscription before it takes effect and ask for a refund of unused Top-up Credit under section 12A.8, as if we had ended this Agreement without your breach. Other changes take effect when they are published. Credit you have already bought keeps its value under any new version.

15.13 What changed in version 2.5. This version adds the terms for Managed Usage and Usage Credit, before either is sold.

Section 2 defines Managed Usage, Usage Credit (Top-up Credit and Monthly Allowance) and the Service Fee.
Section 2 also widens "Model Provider" to include a routing service such as OpenRouter, and a provider reached through Managed Usage.
Section 7.2 says that Managed Usage requests pass through our service under our own provider account, pointing to the privacy notice, which already described it. It no longer says a provider's handling is "not ours" in every case, because on Managed Usage the account is ours. It also says plainly that work you have set to run on its own, such as queued or scheduled agent jobs, sends without asking each time. Version 2.4 said the Software requires approval before data leaves the machine, without that exception.
Section 3.4 now says it covers Subscription fees only.
Section 12A is new. It says what Usage Credit is and is not, how a request is priced, which balance is spent first, and that your balance can never go below zero, so you can never be charged beyond what you bought. It also says:
- Top-up Credit does not expire, and the Monthly Allowance resets each billing period.
- Consumers get the unused part of a top-up back if they cancel within 14 days.
- Unused Top-up Credit is refunded when you close your Account and ask, and is refunded automatically if we stop Managed Usage or end this Agreement without your breach.
- It covers what happens after a refund or chargeback, and how we correct billing mistakes.
- You are not responsible for credit spent because the Software was faulty, or by someone else after you told us about it.
- Your Account has daily and monthly spend limits you control, starting at £20 and £100.
- It covers what can change about the models on offer, and the rules for using Managed Usage.
- We give 30 days' notice of any increase to the Service Fee.
Section 13.3 says a Business User's liability cap counts Usage Credit purchases as well as Subscription fees. Before, it said "fees you paid for the Software", which left that unclear.
Section 14 lists which parts of 12A survive termination.
Section 15.12 is new and says how this Agreement changes. Earlier versions did not say.

Nothing in version 2.5 reduces a right you had under version 2.4. The change to 7.2 corrects a description rather than a right: queued and scheduled agent work already sent without asking each time, and version 2.4 did not say so.

15.14 What changed in version 2.6. Two clauses in section 7 described features as not built yet. Both are built and running, and this version describes them as they behave. It describes behaviour the Software already has, and no right you had under version 2.5 is reduced.

Section 7.4 said the licence check was not built, that no version you could install performed any part of it, and described it in the future tense. It is built. The section now lists what each request carries (your sign-in, the Device Identifier, the application version and the build channel), says how often it is sent (a renewal about every four hours and a keep-alive about every ten minutes while the Software is open), what comes back (a Licence File valid for seven days) and what we record. Version 2.5 said a request carried three things; the build channel is the fourth, and the keep-alive request is new to the description.
Section 7.5 said optional usage telemetry was not built. It is built. The section now says it is off by default and off after an update, lists the kinds of thing it sends, says that the switch is also held on your Account when you are signed in, and keeps every commitment version 2.5 made: nothing from your Vault, no pre-ticked box, switching it off deletes the token, and no loss of functionality.
The header now says the Agreement applies to NeuralVault 2.0 and later, and names version 2.5 as the one this supersedes.
Sections 3.6, 11.3, 12.3 and 14 said an expired Licence File meant the Software reverts to the Free Edition and does not lock. They now carry dated correction notes (14 October 2026, the same publication day as this version). A build needs a current signed Licence File to run, so with no successful renewal after the seven days it locks, runs nothing beyond sign-in, status, updates and bug reports, deletes nothing, and recovers when you go online and sign in. The old text is left in place, marked. No Vault is touched.

Section 3.2 and version 2.4 already say a Free install needs an Account, so any earlier statement that a Free install makes no licence request stays withdrawn, as it was in version 2.4.

16. Contact

Perpetual Technologies AI Ltd Company number 17330522, registered in England and Wales 67 High Street, Shoeburyness, Southend-on-Sea, England, SS3 9AW contact@perpetualtechnologies.co.uk https://perpetualtechnologies.co.uk

NeuralVault software licence.