Arashi Vision Inc. (“Insta360”, “we”, “us” or “our”) encourages you to participate in the Think Bold Fund Insta360 Awards Program (“this Program”) and to share your works with us. Please read the terms and conditions in this Think Bold Fund Insta360 Awards Program Terms and Conditions (“these T&Cs”) carefully.

You have the right to choose whether to participate in this Program or not. By clicking the “Agree” button and uploading your contents (including, but not limited to, videos, pictures and other audio-visual contents and all the components contained therein, e.g. sounds, lines, visual design, etc., collectively, “Contents”), you (A) acknowledge that you have read and understood all the Contents and provisions in these T&Cs; (B) represent that you have full civil capacity to sign a binding agreement (being over 18 years old or having reached the legal age of majority in your country/region), or you are a legal person or other organization established and legally conducting business activities under the laws of your country/region; and (C) agree to be bound by these T&Cs.

If you do not agree to any of the terms in these T&Cs, please do not upload any of your Contents to the Think Bold Fund Insta360 Awards Program Platform.

I. Introduction to Think Bold Fund Program

1.1 Time of this Program: From 00:00 1st-June-2023 to 23:59 30-September-2023. After the expiration of the aforementioned time, you are not able to upload, modify or to delete your Contents in order to ensure the fairness of this Program.

1.2 Participation of this Program: you may upload your Contents to the Think Bold Fund Insta360 Awards Program Platform.

1.3 Application acceptable of the program:

(1) Video creative brief;

(2) Video/photograph works.

1.4 Detail of Think Bold Fund:

(1) Bonus *: Insta360 will grant different scale of bonus based on the quality, creativity and other related factors of the selected video creative brief and/or of the video/photograph works. The highest bonus for a single applicant is US$100,000 maximum or other currency equivalent.

(2) Camera or shooting, post-editing support: Insta360 will discuss with an applicant according to the selected video creative brief, and, based on the shooting agreement between such applicant and Insta360: a. Provide Insta360 camera support, and the applicant will complete the shooting; or b. Provide shooting and post-editing support, and the applicant and Insta360 will jointly complete the shooting. For the avoidance of doubt, Camera or shooting, post-editing support is not applicable if only video/photograph works are selected.

*If your submitted video creative brief or video/photograph works are awarded by the Think Bold Fund, you understand and agree that the amount of bonus you receive include all taxes, including, but not limited to, personal income tax and VAT. Also, you shall solely bear the relevant transfer charge (if any), and Insta360 will pay you the bonus after deducting the relevant transfer charge.

*The bonus will be paid to you by Insta360 by wire transfer or other methods agreed between you and Insta360 and in the currency agreed between you and Insta360, based on the account information you provided.

If your submitted video creative brief or video/photograph works are successfully shortlisted for the “Think Bold Fund Insta360 Awards Program”, Insta360 will contact you based on the contact information you provided on the program page. For better presenting your submitted video creative brief or video/photograph works and safeguarding the interests of you and of Insta360, Insta360 may further sign a contract with you based on mutual consensus. In case of any conflict between such contract terms and these T&Cs, the terms of such contract shall prevail. For more information regarding how we collect, process and protect your contact information and other personal data, please refer to Insta360 Privacy Policy.

If the bonus cannot be paid or we cannot contact you due to the incorrect or incomplete contact information you provided or other reasons caused by you, you will be deemed to waive the right to win the bonus and the camera or shooting, post-editing support automatically. We shall have no liability in such circumstances, and will not regrant any bonus or other equivalent prizes.

1.5 Selection rules:

In principle, we will review and evaluate your submitted video creative brief or video/photograph works according to the following rules and procedures: (1) Selection method: Submissions will be manually reviewed based on the selection criteria. Submissions will be reviewed on a regular basis but notification of results may vary depending on the amount of submissions received

(2) Selection criteria: Whether submitted the video creative brief or video/photograph works meet the relevant requirements of 1.6 "Specifications for Contents" of these T&Cs.

(3) Selection procedures: Internal screening is conducted in three rounds. If selected, applicants will be informed.

1.6 Specifications for Contents:

(1) In line with the spirit of Think Bold Fund and highly related to Insta360 products. For proposals, they need to show potential in creativity and boldness and proof of the capability of completing such challenges; for videos/photographs, they need to demonstrate creativity and unique perspectives. Submissions which demonstrate a benefit to society are welcomed.

(2) Comply with the requirements of all applicable laws and regulations, respect and protect applicable national interests, legitimate rights and interests of citizens, social public order, morality and authenticity of information. You agree and undertake not to produce, reproduce, post or disseminate the Contents containing the following information:

i. Infringing upon other’s privacy rights, reputation rights, portrait rights, intellectual property rights and other legitimate rights and interests;

ii. Spreading commercial advertisements, or similar commercial solicitation information, excessive marketing information and spam information;

iii. Infringing upon the legitimate rights and interests of minors or damaging the physical and mental health of minors;

iv. Secretly photographing or recording others without the permission of others, infringing upon the legitimate rights of others;

v. Performing in a manner that abuses animals, etc.;

vi. Containing horrors, violence, bloods, high risk, and endangering the physical and mental health of the performer or others, including, but not limited to,

i. Any content of violence and/or self-harm;

ii. Any performance and content that threaten life and health, and endanger the personal and/or property rights of oneself or others by using dangerous instruments such as knives;

iii. Content that encourages or induces others to participate in dangerous or illegal activities that may cause personal injury or death.

(3) If you submit video creative brief to Insta360, the Contents thereof shall meet 1.6 (1) & (2) of these T&Cs, and you are also required to provide the following information:

i. Reference links or pictures of video creative brief;

ii. Your shooting ideas or plans for video creative brief;

iii. The resources you want Insta360 to provide;

iv. Your planned shooting location.

(4) If you submit video/photograph works to Insta360, the Contents thereof shall meet 1.6 (1) & (2)of these T&Cs, and you shall also ensure that the Contents you submit:

i. Are mainly shot by Insta360 camera (BTS/b-roll lens has no specific camera shooting requirements);

ii. Are the original video clip/original video file or still image;

iii. Have no background music;

iv. Have no filters or cropping;

v. Provide the highest resolution material.

vi. Shooting time and duration of the Contents are not limited.

II. Intellectual Property Rights

2.1 You represent and warrant that all Contents you submit to Insta360 through the Think Bold Fund Insta360 Awards Platform are all your originals or legally licensed (and sub-licensed) by their original copyright owners. The intellectual property rights of the Contents shall belong to you or their original copyright owners.

2.2 You represent and warrant that you have obtained appropriate permissions from all persons that recognizably appear in the Contents (including the real names, nicknames, likenesses, voices, live or recorded performances, autographs, photographs and biographical information of such third-party individuals) or organizations ( including trademarks, service marks, brands, names, logos and organizational marks (if any) and any other branding, marketing or promotional assets, supplies, material, etc.), and the owner of any music, images, video, audio, photos, text, or other material embedded within the Contents. If your Contents contain photographs or digital or video images that depict a child that is under the age of majority in their state of residence, you represent that you have written permission from the minor’s parent or guardian to provide the photo, digital, or video image for commercial use.

2.3 You hereby acknowledge and agree to grant Insta360:

(1) The worldwide, free, non-exclusive, irrevocable, sub-licensable (through multiple layers) right to store, use, publish, reproduce, modify, adapt, distribute, translate, disseminate, publicly perform, publicly display and create derivatives of the Contents anywhere (including, but not limited to, all social media and commercial prints);

(2) The right to use the Contents for the marketing, advertising, promotion, technical testing, etc. of Insta360 brands, products and services, and make profits through advertising, subscription, licensing, etc.;

(3) The right to embed the Contents into audiovisual contents, texts, images, illustrations, photographs, templates, and other contents or materials created by Insta360 or its licensors or principals (collectively, “Insta360 Network Materials”).

(4) The right to incorporate part or all of the Contents into works, media, and technologies in any form;

(5) The right to use the Contents from the secondary creation and published content for commercial or non-commercial purposes;

(6) The right to provide information download, on-demand, data transmission, mobile video services (including, but not limited to, wireless services of SMS, MMS, WAP, IVR, Streaming, 5G, mobile video) and related advertising and promotion services for computer terminals and mobile communication terminals (including, but not limited to, the portable communication equipment, such as cellphones and smart tablet PCs), the handheld digital audio and video equipment, television reception (analog signal receiving equipment, digital signal receiving equipment, digital TV, IPTV, broadcasting equipment with Internet access function, etc.);

(7) The right to authorize the third party to use the Contents in the manners described above; and

(8) The right to any other exhibition, display, performance, dissemination, distribution, development or other use of the Contents and/or the manner in which the Contents are presented in 2.1 above.

2.4 You acknowledge and agree that, all content and materials on the Program promotion page or other promotional materials belong to Insta360 and are protected by the copyright laws of relevant countries. You shall not, by any means (including copy, modify, upload, post, transmit, distribute, license, sell and publish, etc.), use any of the above materials for commercial purposes except with the written permission of Insta360. Insta360 will acquire all rights, ownerships and interests in and to the derivative works containing the Contents that are a part of the Insta360 Network Materials.

2.5 You represent and warrant that your compliance with the terms of these T&Cs. The Contents you submit and the submission of the Contents will not infringe any lawful rights and interests of any third parties (including but not limited to intellectual property right, right of portrait, right of reputation, right of privacy, etc.). At the same time, you will comply with all laws, regulations and provisions applicable to this T&Cs.

III. Responsibility

3.1 You promise and warrant that you shall strictly comply with all applicable laws and regulations and the relevant provisions of the shooting location, and shall not use Insta360 products for any illegal or improper purposes.

3.2 You promise and warrant that you will install and use the product in accordance with Insta360 product manual and other safety instructions/guidelines (if any), take any shooting or photographing activities in a strict, careful and safe manner, and bear the liability for personal damage, disease infection, property damage, etc. caused to yourself or any third party during your control and use of Insta360 product.

3.3 You understand and acknowledge that you are solely liable for the losses caused to you or any third party by any shooting or photographing activities you participate in under these T&Cs, including, but not limited to, (1) negligent death or negligent injury; (2) any damage or liability caused by either party’s fraud or fraudulent misrepresentation; (3) other liability accidents caused by your individual behaviors, and not caused by Insta360 product quality defects.

3.4 Insta360 respects and protects your and others’ intellectual property rights, reputation rights, name rights, privacy rights and other legitimate rights and interests. You agree and promise that you will defend, indemnify and hold harmless Insta360 from all claims, demands, damages, liabilities, losses, costs and expenses (including reasonable attorney fees) arising out of or related to:

(1) Breach of any representations and warranties made by you under these T&Cs;

(2) Any third-party complaint that the Contents you submit or the way the Contents are presented or Insta360’s use of the Content infringe, encroach on, or violate the third-party intellectual property rights or other third-party rights;

(3) Any third party suffers personal injury, death, property damage based on any of your actions or omissions, or complains that any of your actions or omissions violate any laws or regulations.

(4) Any other liabilities which is not cause by the sole reason of Insta360.

3.5 You understand that any shooting activities have certain personal risks. You promise and warrant that you are in good physical condition and capable of participating in this program.

IV. Disclaimer

To the extent permitted by applicable laws, Insta360 disclaims all warranties of any kind, express or implied.

To the maximum extent permitted by applicable laws, you expressly acknowledge and agree that your participation in this program is solely at your own risk and responsibility. In no event shall Insta360 be liable for any incidental, special, consequential or punitive damages (including, but not limited to, lost revenue, lost profits, lost opportunities and incidental damages, suffered by you as a result of your participation in this program), whether arising out of or in connection with these T&Cs or Insta360, even if Insta360 has been advised of the possibility of such damages.

V. Miscellaneous

These T&Cs will be governed and construed by the laws of the People’s Republic of China. Any legal action or proceeding arising under these T&Cs will be brought exclusively to the competent courts located in the Bao’an District of Shenzhen.

If any provision of these T&Cs is held to be unenforceable or invalid by a court of competent jurisdiction, such provision will be enforced to the maximum extent possible and the other provisions will remain in full force and effect.

Insta360 reserves the right to adjust these T&Cs to the reasonable extent in accordance with similar activities or standard practice in relation to this Program. If such adjustment shall cause material impacts on your lawful rights or material deduction of our obligations or responsibilities, we will notify you by appropriate means. Please review these T&Cs periodically to ensure that you are aware of the above adjustments. If you continue to participate in this Program or use the relevant website after the adjustment of these T&Cs, it is deemed that you have accepted and are bound by the adjusted T&Cs.