Common use of System and Network Security Clause in Contracts

System and Network Security. The Company understands that there is a constant risk posed to its computer systems and networks by individuals attempting to gain unauthorized access. Daily, computer systems run the risk of compromise through unauthorized access by hackers, malware, and other threats that not only put the Company’s own data and employees at risk but could also potentially compromise the Company financial information and accounts. Financial losses resulting from such risk could cause the failure of the Company’s business. The Company explicitly acknowledges that the Bank is not responsible for the safety and security of the Company’s systems and networks. The Company understands that its computer systems are vulnerable to various types of infiltration. The Company will take responsible measures to protect its data by ensuring that proper security network devices are deployed, configured properly, and kept up to date with tools such as firewalls, proxies, intrusion detection and prevention systems, up-to-date anti-virus protection, operating system patches, and patches for third-party software packages like Adobe Acrobat, Internet Explorer, and Microsoft Office. Additionally, security audits should be performed by the Company to ensure that the security measures it has in place are adequate and effective.