Lexvor Connect Network

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Lexvor Connect Network - Terms and Conditions

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1. Token Rewards:

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a. Earning Tokens: Owners of Lexvor Modems and/or Small Cells are entitled to earn tokens for each device connected to their equipment and using data. Tokens are earned based on the volume of data transmitted and received by each connected device.

 

The token accrual rate is calculated per gigabyte of data usage.

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b. Redemption Options: These tokens can be redeemed for USD cash, bill credits applied towards future Lexvor service bills, ACH bank transfer directly to the owner's bank account, or cryptocurrencies such as USDC or USDT.

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c. Fees and Taxes: Owners are responsible for any fees or taxes associated with bank transactions or conversion rates during the token redemption process. This includes any transaction fees charged by financial institutions or cryptocurrency exchanges, as well as any taxes imposed on redeemed rewards according to local regulations.

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2. Tax Reporting:

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a. 1099 Form Issuance: Lexvor Builders who accrue a value in U.S. dollars exceeding $500 in a fiscal year will be issued a 1099-K for tax purposes and reporting. This form will include the total value of tokens earned and redeemed during the tax year, as well as any applicable transaction fees or taxes paid.

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b. Documentation Requirements: Lexvor Minors and individuals receiving crypto payments in USDC or USDT must provide all necessary documentation before their first payout. This documentation may include government-issued identification, proof of address, and tax identification numbers, as required by local regulations.

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3. Modem and/or Small Cell Ownership:

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a. Unlimited Ownership: Lexvor Modem and/or Small Cell Owners enjoy the flexibility of owning and operating an unlimited number of devices without any restrictions. Owners are free to deploy their equipment in any location where Lexvor services are available, subject to local regulations and agreements.

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4. User Payout Limits:

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a. Capped Payouts: Users connecting to Modem and/or Small Cell are subject to a maximum payout of $20,000 per month per device. This payout cap ensures fair distribution of rewards among users and prevents excessive payouts for high-volume users.

b. Variable Payouts: Payouts per connection are based on user Modem and/or Small Cell usage history. The determination is made using Cloud management, user MAC ID, and MAC Addresses. This allows for customized payouts tailored to each user's data usage patterns, ensuring that rewards accurately reflect their contribution to the network.

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5. Payment Methods:

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a. Irreversible Choices: Once a Modem and/or Small Cell Owner has selected a payment method and has received payment, no changes can be made to the chosen method. Owners are responsible for ensuring that their payment information is accurate and up-to-date to avoid any payment processing issues.

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b. Payment Rejection Policy: Lexvor is not responsible for reattempting payments if the initial payment is rejected or lost due to fraudulent information, incorrect bank details, or missing account information. Owners are encouraged to double-check their payment information before requesting a payout to avoid any delays or issues with payment processing.

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6. Network Access:

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a. Approved MAC ID Requirement: Users must access the Lexvor Connect Network using a Valid and Approved MAC ID. This ensures that only authorized devices are allowed to connect to the network, enhancing security and preventing unauthorized access.

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b. SSID Password Sharing Policy: Sharing the Lexvor SSID password without an approved MAC ID will result in denied network access, irrespective of the correctness of the information provided. This policy helps prevent unauthorized users from accessing the network and ensures that only authorized users can benefit from Lexvor's services.

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7. Example Payouts:

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a. Earnings Scenarios: Provided examples illustrate potential earnings for Modem and/or Small Cell Owners based on the number of connected users and their respective data usage levels. These scenarios help owners understand how their earnings are calculated and how different factors, such as user volume and data consumption, can impact their rewards.

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8. Responsibility and Damages:

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a. Liability: Lexvor holds no responsibility for damages caused by the Modem and/or Small Cell in the owner's individual place of ownership or establishment. Owners are responsible for ensuring that their equipment is installed and maintained properly to prevent any damage to property or harm to individuals.

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b. Deactivation Impact: Modem and/or Small Cell Owners will not earn token rewards for months when the Modem and/or Small Cell is deactivated or not connected to a robust internet source. This ensures that rewards are only earned when the equipment is actively contributing to the network and providing valuable services to users.

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9. Cash Out:

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a. Frequency: Modem and/or Small Cell Owners are allowed to cash out twice a month. This provides owners with flexibility in managing their earnings and accessing their rewards in a timely manner.

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b. Minimum Requirement: There is a minimum cash-out requirement of $100 USD in token value. If a user falls below this threshold, additional tokens must be earned before cashing out. This minimum requirement helps streamline the payout process and ensures that payouts are processed efficiently for owners who have accrued a sufficient balance.

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10. Plan Cancellation:

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a. Address Requirement: In the event of plan cancellation, Modem and/or Small Cell Owners must provide a valid mailing address, subject to information accuracy policies. This ensures that owners can receive any remaining rewards or payments owed to them after their plan is canceled.

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11. Check Expiry:

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a. Reissuance Policy: If a check remains uncashed for 180 days, Lexvor, upon user request, will send another cashier's check to the Modem and/or Small Cell Owner's specified location. This policy helps prevent owners from losing out on their rewards due to lost or expired checks, ensuring that they can receive their payments in a timely manner.

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12. Account Suspension:

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a. Lexvor's Authority: Lexvor reserves the right to cancel, change, or suspend any owner's account in the event of discovering token earnings through fraud, criminal, or deceptive activities. This policy helps maintain the integrity of the token rewards program and ensures that rewards are distributed fairly to legitimate users.

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13. Program Changes:

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a. Flexibility: Lexvor retains the right to alter, change, modify, or cancel its token rewards program at any time without prior notice. This allows Lexvor to adapt the program to changing market conditions, user feedback, or regulatory requirements, ensuring that the program remains effective and sustainable in the long term.

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14. Payout Information:

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a. Required Details: Information required for payouts includes valid first and last names, address, Federal Tax ID number, valid social security number, and bank account routing and account number. This information is necessary to process payouts accurately and securely, and to comply with legal and regulatory requirements.

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b. Information Handling: This sensitive information will be provided to Lexvor's merchant partner for quality assurance, and Lexvor will not directly store any of this information. Lexvor takes data privacy and security seriously and implements measures to protect users' personal information from unauthorized access, use, or disclosure.

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15. Surge Bonus

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Surge bonuses payouts are payouts provided to Network Host that reach a threshold of concurrent connections per month.

If the Host goes under the threshold at any point for the month, they will not receive the bonus.

Example of Surge Bonus : Network Host maintains 150 connection for the entire month (30 consecutive days).

Example of Non Surge Bonus qualifier : Network Host maintains 150 connections for only 15 days for the entire month.

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16. Surge Bonus Thresholds

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Surge bonus thresholds are set by tiers :

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X 1 = 100 Users or Less (.05 per token)

X 2 = 100 - 150 Users  (0.10 per token)

X 3 = 150 - 250 Users (0.15 per token)

X 4 = 250  Users and up (0.20 per token)

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Influencer Tiered Bonuses

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X 4 = 100 Users or Less (0.20 per token)

X 6 = 100 - 150 Users (0.30 per token)

X 8 = 150 - 250 Users (0.40 per token)

X 10 = 250 Users and up (0.50 per token)

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17. General:

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a. Update Notification: These terms and conditions may be updated periodically, and continued participation implies acceptance of any modifications. Owners are encouraged to review the terms and conditions regularly to stay informed about any changes that may affect their participation in the token rewards program.

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By participating in the Lexvor Connect Network, Modem and/or Small Cell Owners and Users acknowledge and accept these detailed Terms and Conditions.

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This comprehensive set of terms and conditions provides detailed information on the rights and responsibilities of participants in the Lexvor Connect Network.

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© 2024 Lexvor Inc. All rights reserved. Last Updated: 05/16/2024