INTRODUCTION

Welcome to Stable-pillar BankInternational, You have many choices when selecting a financial institution, and we are glad you chose Stable-pillar, SP. We value our relationship with you and hope we answered all your questions when you opened your account. Whether you are opening a new account or currently have a Consumer or Business deposit account, please review this account agreement for further details regarding your account and related services.

What words do we use to refer to the customer, this account agreement, and Stable-pillar Bank?

1. The customer is the “account owner,” “you,” “your,” or “yours.

2.Stable-pillar, SP. is “Stable-pillar,” “the Bank,” “we,” “us,” or “our

 This account agreement and the disclosures listed below constitute the “Agreement”:

– The Consumer Account Fee and Information Schedule (“Consumer Schedule”) or the Business Account Fee and Information Schedule (“Business Schedule”), which explain our fees and provide additional information about our accounts and services,

– Our Privacy Policy, – Our rate sheet for interest-earning accounts, and – Any additional disclosures we provide to you about your account and related services, including any addenda to the Agreement or to the Consumer Schedule or Business Schedule, as applicable. Words with specific meanings. Certain words have specific meanings as they are used throughout this Agreement. These words and their meanings are defined in this section.

ACH Transaction

An ACH transaction is a deposit or payment (withdrawal) presented through the Automated Clearing House (ACH) network, an electronic network for financial transactions in Switzerland.

Authorized Signer

An authorized signer is a person who has your actual or apparent authority to use your account even if they have not signed the account application.

Available balance

Your account’s available balance is our most current record of the amount of money available for your use or withdrawal. For more information, please see the section entitled “How do we determine your account’s available balance?” in this Agreement.

Business Account

A business account is any deposit account, other than one ofStable-pillar’s commercial deposit accounts, which is not established and maintained for personal, family, or household purposes. A business account is typically owned by an individual acting as a sole proprietor, a partnership, a limited partnership, a limited liability partnership, a limited liability company, a corporation, a joint venture, a nonprofit corporation, an employee benefit plan, or a governmental unit including an Indian tribal entity.

Business Day

Every day is a business day except Saturday, Sunday, and federal holidays.

Deposit Account Agreement – Effective November 9, 2020

Overdraft

An overdraft is a negative balance in your account. What information does the Agreement contain? The Agreement

• Explains the terms of your banking relationship withStable-pillar
• Is the Agreement betweenStable-pillar and you for your account and any services
• Replaces all prior deposit agreements including any oral or written representations, and
• Includes legal information about your banking relationship withStable-pillar.

You are responsible for ensuring that any authorized signer on your account(s) is familiar with the Agreement. We suggest you retain a copy of the Agreement and any further information we provide you regarding changes to the Agreement for as long as you maintain yourStable-pillar accounts. Are we allowed to change the Agreement? Yes, we can change the Agreement by adding new terms or conditions, or by modifying or deleting existing ones. We refer to each addition, modification, or deletion to the Agreement as a modification.

Business Day

Every day is a business day except Saturday, Sunday, and federal holidays.

Deposit Account Agreement – Effective November 9, 2020

Notice of a modification

If we are required to notify you of a modification to the Agreement, we will describe the modification and its effective date by a message within your account statement or any other appropriate means.

Waiver of a term of the Agreement

We may agree in writing to waive a term of the Agreement, including a fee. This is called a waiver. We may revoke any waiver upon notice to you. How do you consent to the Agreement and any future modification to the Agreement? By signing the application for a deposit account or using your account or service you consent to the terms of this Agreement. Continuing to maintain or use the account or service after a modification to the Agreement or removal of a fee waiver becomes effective is considered your consent to those changes. 

A copy of the current Agreement will include modifications described in your account statement or otherwise communicated to you. You can obtain a copy of the current Agreement anytime by requesting it from a banker or at Stable-pillar.com. What happens if a term of the Agreement is determined to be invalid? Any term of the Agreement that is inconsistent with the laws governing your account will be considered to be modified by us and applied in a manner consistent with such laws. 

Any term of the Agreement that a court of competent jurisdiction determines to be invalid will be modified accordingly. In either case, the modification will not affect the enforceability or validity of the remaining terms of the Agreement. With whom will we communicate about your account? We may provide you or an authorized signer with information about your account. 

When we receive information from an authorized signer, we treat it as a communication from you. You agree to notify us promptly in writing if an authorized signer no longer has authority on your account. Resolving disputes through arbitration (Consumer accounts only) Arbitration 

Agreement between you andStable-pillar If you have a dispute, we hope to resolve it as quickly and easily as possible. First, discuss your dispute with a banker. If your banker is unable to resolve your dispute, you agree that eitherStable-pillar or you can initiate arbitration as described in this section.

Definition

Arbitration means an impartial third party will hear the dispute between Stable-pillar and you and provide a decision. Binding arbitration means the decision of the arbitrator is final and enforceable. A dispute is any unresolved disagreement betweenStable-pillar and you. A dispute may also include a disagreement about this Arbitration Agreement’s meaning, application, or enforcement.Stable-pillar and you each agrees to waive the right to a jury trial or a trial in front of a judge in a public court. This Arbitration Agreement has only one exception: 

EitherStable-pillar or you may still take any dispute to small claims court. Arbitration is beneficial because it provides a legally binding decision in a more streamlined, cost-effective manner than a typical court case. But, the benefit of arbitration is diminished if either Stable-pillar Bank or you refuse to submit to arbitration following a lawful demand. 

Thus, the party that does not agree to submit to arbitration after a lawful demand must pay all of the other party’s costs and expenses for compelling arbitration. Can either Stable-pillar Bank or you participate in class or representative actions? No, neitherStable-pillar nor you will be entitled to join or consolidate disputes by or against others as a representative or member of a class, to act in any arbitration in the interests of the general public, or to act as a private attorney general. If any provision related to a class action, class arbitration, private attorney general action, other representative action, joinder, or consolidation is found to be illegal or unenforceable, the entire Arbitration Agreement will be unenforceable. What rules apply to arbitration? Stable-pillar Bank and you each agrees that

1. The Switzerland Arbitration Association (SAA) will administer each arbitration and the selection of arbitrators according to the SAA’s Consumer Arbitration Rules (SAA Rules).

2.Stable-pillar and you are participating in commercial transactions involving the movement of money or goods among states.

3. The Federal Arbitration Act (Title 9 of the Switzerland States Code) governs this Arbitration Agreement and any arbitration betweenStable-pillar and you. If the Act or any part of it is inapplicable, unenforceable or invalid, the state laws governing your relationship withStable-pillar govern this Arbitration Agreement. EitherStable-pillar or you may submit a dispute to binding arbitration at any time, regardless of whether a lawsuit or other proceeding has previously begun. 

For information on initiating arbitration, contact the SAA. Each arbitrator must be a licensed attorney with expertise in the laws applicable to the dispute’s subject matter. The arbitrator will make a decision regarding the dispute based on applicable law, including any statutes of limitations. The arbitrator may award to eitherStable-pillar or you any award or relief provided for by law.

Resolving disputes through arbitration (Consumer accounts only). No person participating in an arbitration can disclose the arbitration’s existence, content, subject, or results, except as required in a party’s ordinary course of business or by law. Who pays the arbitration fees and expenses? Arbitration fees and expenses are explained here:

Setting the fees/expenses: The arbitration administrator determines the rules and procedures for deciding who pays the arbitration fees, unless limited by applicable law. Please check with the arbitration administrator to determine the fees applicable to any arbitration you file.

Applying state law: The laws governing your account may limit the amount of fees and expenses you are required to pay in arbitration. Your arbitration fees and expenses will not exceed any applicable limits.

Paying for attorney/expert/witness fees: Unless applicable laws state otherwise, each party will pay its own attorney, expert, and witness fees. This rule applies no matter which party wins arbitration. What other rights doStable-pillar or you have when resolving disputes?Stable-pillar or you each can exercise any lawful rights or use other available remedies to.

• Preserve or obtain possession of property,
• Exercise self-help remedies, including setoff rights, or
• Obtain provisional or ancillary remedies such as injunctive relief, attachment, garnishment, or appointment of a receiver by a court of competent jurisdiction. Where will an arbitration be held? An arbitration will be held in the state whose laws govern your account. Resolving disputes through arbitration (Business accounts only) Arbitration Agreement between you andStable-pillar If you have a dispute, we hope to resolve it as quickly and easily as possible. 

First, discuss your dispute with a banker. If your banker is unable to resolve your dispute, you agree that eitherStable-pillar or you can initiate arbitration as described in this section.

Definition

Arbitration means an impartial third party will hear the dispute betweenStable-pillar and you and provide a decision. Binding arbitration means the decision of the arbitrator is final and enforceable. A “dispute” is any unresolved disagreement betweenStable-pillar and you. A “dispute” may also include a disagreement about this Arbitration Agreement’s meaning, application, or enforcement.

Except as stated in “No waiver of self-help or provisional remedies” below, Stable-pillar Bank and you agree, atStable-pillar’s or your request, to submit to binding arbitration all claims, disputes, and controversies between or amongStable-pillar and you (and their respective employees, officers, directors, attorneys, and other agents), whether in tort, contract or otherwise arising out of or relating in any way to your account(s) and/or service(s), and their negotiation, execution, administration, modification, substitution, formation, inducement, enforcement, default, or termination (each, a “dispute”). 

DISPUTES SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT BY A JUDGE OR JURY. TO THE EXTENT ALLOWED BY APPLICABLE LAW, WELLS FARGO AND YOU EACH IRREVOCABLY AND VOLUNTARILY WAIVE THE RIGHT EACH MAY HAVE TO A TRIAL BY JURY FOR ANY DISPUTE ARBITRATED UNDER THIS AGREEMENT. 

Aside from self-help remedies, this Arbitration Agreement has only one exception: EitherStable-pillar or you may still take any dispute to small claims court. Arbitration is beneficial because it provides a legally binding decision in a more streamlined, cost-effective manner than a typical court case. 

But, the benefit of arbitration is diminished if either Stable-pillar Bank or you refuse to submit to arbitration following a lawful demand. Thus, the party that does not agree to submit to arbitration after a lawful demand by the other party must pay all of the other party’s costs and expenses for compelling arbitration.

Can eitherStable-pillar or you participate in class or representative actions? No, Stable-pillar Bank and you agree that the resolution of any dispute arising pursuant to the terms of this Agreement will be resolved by a separate arbitration proceeding and will not be consolidated with other disputes or treated as a class. 

NeitherStable-pillar nor you will be entitled to join or consolidate disputes by or against others as a representative or member of a class, to act in any arbitration in the interests of the general public, or to act as a private attorney general. 

If any provision related to a class action, class arbitration, private attorney general action, other representative action, joinder, or consolidation is found to be illegal or unenforceable, the entire Arbitration Agreement will be unenforceable.

What rules apply to arbitration?Stable-pillar and you each agree that the arbitration will:

1. Proceed in a location mutually agreeable toStable-pillar and you, or if the parties cannot agree, in a location selected by the Switzerland Arbitration Association (SAA) in the state whose laws govern your account Resolving disputes through arbitration (Business accounts only) Be governed by the Federal Arbitration Act (Title 9 of the Switzerland States Code),
2. notwithstanding any conflicting choice of law provision in any of the documents betweenStable-pillar and you.
3. Be conducted by the SAA, or such other administrator asStable-pillar and you will mutually agree upon, in accordance with the SAA’s commercial dispute resolution procedures, unless the claim or counterclaim is at least $1,000,000 exclusive of claimed interest, arbitration fees and costs in which case the arbitration will be conducted in accordance with the SAA’s optional procedures for large, complex commercial disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be referred to, as applicable, as the “rules”). 

If there is any inconsistency between the terms hereof and any such rules, the terms and procedures set forth herein will control. Any party who fails or refuses to submit to arbitration following a lawful demand by any other party will bear all costs and expenses incurred by such other party in compelling arbitration of any dispute. What are the Arbitrator qualifications and powers? Any dispute in which the amount in controversy is $5,000,000 or less will be decided by a single arbitrator selected according to the rules, and who will not render an award of greater than $5,000,000. 

Any dispute in which the amount in controversy exceeds $5,000,000 will be decided by majority vote of a panel of three arbitrators; provided however, that all three arbitrators must actively participate in all hearings and deliberations. 

Each arbitrator will be a neutral attorney licensed in the state whose laws govern your account, or a neutral, retired judge in such state, in either case with a minimum of ten years experience in the substantive law applicable to the subject matter of the dispute to be arbitrated. 

The arbitrator(s) will determine whether or not an issue is arbitratable and will give effect to the statutes of limitation in determining any claim. In any arbitration proceeding the arbitrator(s) will decide (by documents only or with a hearing at the discretion of the arbitrator(s)) any pre-hearing motions which are similar to motions to dismiss for failure to state a claim or motions for summary adjudication. 

The arbitrator(s) will resolve all disputes in accordance with the substantive law of the state whose laws govern your account and may grant any remedy or relief that a court of such state could order or grant within the scope hereof and such ancillary relief as is necessary to make effective any award. 

The arbitrator(s) will also have the power to award recovery of all costs and fees, to impose sanctions, and to take such other action as deemed necessary to the same extent a judge could pursuant to the federal rules of civil procedure, the state rules of civil procedure for the state whose laws govern your account, or other applicable law. 

Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction. The institution and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy will not constitute a waiver of the right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief. Is discovery permitted in arbitration? 

Yes, in any arbitration proceeding, discovery will be permitted in accordance with the rules. All discovery will be expressly limited to matters directly relevant to the dispute being arbitrated and must be completed no later han 20 days before the hearing date.

DoStable-pillar and you retain the right to pursue in small claims court certain claims? Yes, notwithstanding anything to the contrary,Stable-pillar and you each retains the right to pursue in small claims court a dispute within that court’s jurisdiction. 

Further, this arbitration agreement will apply only to disputes in which either partyseeks to recover an amount of money (excluding attorneys’ fees and costs) that exceeds the jurisdictional limit of the small claims court. Important legal information What laws govern your account? The laws governing your account include:

Laws, rules, and regulations of the Switzerland, and

Laws of the state where you opened your account (without regard to conflict of laws principles). For consumer and business accounts (except analyzed business accounts), your account statement will identify the state whose laws govern your account. If a different state law applies, we will notify you. 

Any funds transfer (including a wire transfer) that is a remittance transfer as defined in Regulation E, Subpart B, will be governed by the laws of the Switzerland and, to the extent applicable, the laws of the state of Zurich, including Zurich’s version of Article 4A of the Uniform Commercial Code, without regard to its conflict of laws principles.

What is the controlling language of our relationship? English is the controlling language of our relationship with you. Items you write such as checks or withdrawal slips must be written in English. For your convenience, we may translate some forms, disclosures, and advertisements into another language. 

If there is a discrepancy between our English-language and translated materials, the English version prevails over the translation. What agreement applies when there is a separate agreement for a service? If a service we offer has a separate agreement, and there is a conflict between the terms of the Agreement and the separate agreement, the separate agreement will apply.

Statements and other information relating to your deposit account How do we make available account statements and other notices to you? We will mail, send electronically, or otherwise make available to you an account statement reflecting your account activity for each statement period. We’ll do the same with notices. We will send all account statements and notices to the postal or electronic address associated with your account.

Combined account statements: To reduce the number of separate account statements you receive each month, we may combine statements if you have more than one deposit account.

If we provide a combined account statement for your accounts, we consider the first account listed on your statement as your primary account. You will receive your account statement at the address listed for your primary account. 

Statements for accounts in a combined statement will be delivered according to the delivery preference of the primary account. Note: Any person with online access to the primary account will also have online viewing capability to all the information on the combined statement.

If you do not want us to automatically combine your account statements, you can optout by visiting a banking location or calling the number on your account statement.

Account statements and notices for accounts owned by more than one owner:

When an account has more than one owner, we will send or otherwise make available account statements and notices to only one owner. 

The owner receiving this information is responsible for sharing copies of the information with other owners.

For all accounts except analyzed business checking, if the first new fee period created by our change is fewer than 25 days, the Bank will automatically waive themonthly service fee for that period. When is your account statement considered received?

Mailed account statements:

When we mail your account statement, we consider it received by you on the second business day after mailing it. Electronic delivery of account statements: Account statements will be made available throughStable-pillar as applicable, 24 – 48 hours after the end of the statement period. 

You will be notified via email that the account statement is available for viewing. We consider the account statement to be received by you when it is available online.

Additional terms – Protection against unauthorized items (Business customers only): Are there additional steps business customers can take to help reduce the risk of fraud on their account? Yes, in addition to the preventive measures described in the section above titled, 

“Are you responsible for taking reasonable steps to help prevent fraud on your account?”, we also recommend that customers with business accounts follow these preventive measures to reduce their exposure to fraud:

1. Assign responsibilities for your business account to multiple individuals. The individuals who reconcile statements for your business account should be different from those individuals who issue items drawn on your business account.
2. Periodically reassign accounting duties such as reconciling your business account or making a deposit.
3. Review your transaction activity for unexpected fluctuations. For example, compare the percentage of cash deposits to total deposit size. Most businesses will maintain a constant average. A large fluctuation might indicate embezzlement.

Fees may apply for this service. When does your account become dormant? Checking accounts, savings accounts, and Time Accounts (CDs) Generally, an account with a positive balance becomes dormant if you do not initiate an account-related activity for 12 months for a checking account, 34 months for a savings account, or 34 months after the first renewal for a Time Account. An account-related activity is determined by the laws governing your account.

When will electronic banking privileges be terminated? All of your electronic banking privileges will be terminated if your account is closed, except that you can view account activity, download statements and tax documents, and perform limited maintenance functions for at least 90 days after closure. If you are enrolled in Stable-pillar Bank Online, refer to the Online Access 

Agreement for specific terms governing online access to your account. Are we allowed to obtain credit reports or other reports about you? Yes, we can obtain a credit or other report about you and your co-owners to help us determine whether to open or maintain an account. Other reports we can obtain include information from the following: motor vehicle departments,other state agencies, orpublic records.

When do we share information about your account with others? Generally, if we do not have your consent, we will not share information about your account. However, we may share information about your account in accordance with our Privacy Policy separately given to you.

Rights and responsibilities Are we allowed to monitor and record communications? Yes, we can monitor, record, and retain your communications with us at any time without further notice to anyone, unless the laws governing your account require further notice. Monitored and recorded communications include:

1. Telephone conversations,
2. Electronic messages,
3. Electronic records, or
4. Other data transmissions.

CanStable-pillar benefit from having the use of funds in customers’ non-interest earning accounts?

Yes. We may benefit from having the use of funds in customers’ non-interest earning accounts. We may use these funds to reduce our borrowing from other sources such as the Fed Funds market or invest them in short-term investments such as its Federal Reserve Account. 

This benefit may be referred to as spread. It is not possible to quantify the benefit to us that may be attributable to a particular customer’s funds because funds from all customers’ non-interest earning accounts are aggregated both for purposes of reducing our borrowing costs and for investment and because our use of funds may vary depending on a number of factors including interest rates, Federal Funds rates, credit risks and our anticipated funding needs. Our use of funds as described in this paragraph has no effect or impact on your use of and access to funds in your account. Is your wireless operator authorized to provide information to assist in verifying your identity? Yes, and as a part of your account relationship, we may rely on this information to assist in verifying your identity. 

You understand and agree thatStable-pillar may collect, use, and retain personal or other information about you or your device pursuant to Stable-pillar Bank’s policies or as required by applicable law. You authorize your wireless operator to disclose your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber and device details, if available, toStable-pillar and service providers for the duration of the business relationship, solely for identity verification and fraud avoidance. Review our Privacy Policy for how we treat your data. 

You represent that you are the owner of the mobile phone number or have the delegated legal authority to act on behalf of the mobile subscriber to provide this consent. Are you responsible for paying taxes? Yes, fees may be subject to state and local sales taxes, which vary by location, and will be assessed as appropriate. 

You also agree to pay an amount equal to any other applicable taxes, including backup withholding tax. What is the applicable exchange rate? The applicable exchange rate is the exchange rate we set and use for you when we convert one currency to another currency. It includes a markup over our cost of sourcing the relevant currency. 

The markup factors include without limitation costs incurred, market risks, and our desired return. The exchange rate we provide to you may be different from Rights and responsibilities

Deposits to your account Are we required to accept all deposits to your account? No. We may decline all or part of a deposit, including a cash deposit. Some examples are

1. an item made out to a payee not on your account,
2. an item with an endorsement we are unable to verify.

 Verification levels for non-resident investor checking account (NIROC):

Level 1 – Uploading of ID, e-mail, phone number verification and tax verification

Level 2 – Physical Print and Face Verification (PPFV)

Level 3 – Transfer limit upgrade fee as deemed fit byStable-pillar, not more than $30000 depending on customer country.

Outstanding and authorized withdrawals (such as recurring debit transactions and ACH transactions that we have not received for payment). The most common types of transactions are processed as described below. First, we determine the available balance in your account (as described above) that can be used to pay make transfers. NOTE: Certain pending transactions can impact your available balance:

Cash deposits or transfers from anotherStable-pillar account that are made AFTER the displayed cutoff time (where the deposit was made) will be added to your available balance if they are made before we start our nightly process. 

Your available balance will be reduced by pending withdrawals, such as debit transactions we have authorized and must pay when they are sent to us for payment. Withdrawals or transfers from your account must be completed before another transfer can be initiated. If your account has insufficient funds as reflected by your available balance, the Bank may assess overdraft and/or non-sufficient funds (NSF) fees on transactions we pay or return.

 Additional rules for withdrawals

A person receives a transfer, presentment, or return of, or otherwise is charged for an electronically created item in such a way that the person is asked to make payment based on an item or check it has paid. If we suffer any losses or liabilities arising directly or indirectly from or related to that type of electronically created item indemnity obligation, you will indemnify and reimburse us and not hold us responsible or liable. 

Issuing stop payment orders. Each stop payment order is subject to our verification that we have not already paid or otherwise become obligated to pay the check from your account. This verification may occur after we accept your stop payment order.

Your account ownership

Pay (without inquiring) any item authorized by the account owner before being declared incompetent or dying,

Return or reverse deposits made to the account, and

Apply funds in the account to any debt the account owner owes us before recognizing the rights to any remaining funds of a surviving joint owner or other person. If we are liable for taxes or reclamation claims from a federal or state government agency because we released funds in an account after the account owner’s death, the account owner’s estate is responsible for reimbursing us for those amounts. 

Individual and Sole Proprietors Only If an account owner dies or is declared incompetent we may accept and comply with court orders and legal documents, and take direction from affiants or court appointed personal representatives, guardians, or conservators from your state of residence, even if different than where your account was opened except as otherwise required by applicable law or court order. 

We may require additional documentation be provided to us before complying with the directions given by affiants or court appointed personal representatives, guardians, or conservators. We reserve the right to require Switzerland court documents for customers who reside outside of the Switzerland at time of incompetence or death. 

For business owners Upon notification to the Bank of the death or incompetence of a business owner, the business entity will provide documentation evidencing any change in the ownership or control of the entity following applicable legal formalities.