2.2. The client understands and agrees that in order to execute payments by SEPA direct debit:

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1 SATABANK SEPA DIRECT DEBIT DEBTOR SERVICE Approved by BoD of Satabank: 9 th of August, 2016 This Schedule applies to SEPA Direct debit payments, which the Client of Satabank makes as a Debtor (payer) to the Client s creditor (payee), upon request of the payee. This Schedule does not apply for Clients of Satabank, which act as Creditor (payee), for which there is a separate Schedule and terms and conditions. Payments which the Client makes to payees (creditors) by SEPA direct debit through his/her Satabank account with the Bank shall be subject to the following terms and conditions. 1. Definitions "Direct Debit" means a payment transaction initiated by the payee and debited to the Client s account where the amount of the payment is specified by the payee. "List of SEPA Countries and territories" includes countries belonging to the European Economic Area (EEA) as the Member states of the European Union: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (including French Guiana, Guadeloupe, Martinique, Mayotte, Réunion), Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom of Great Britain and Northern Ireland as well as countries belonging to EFTA : Iceland, Liechtenstein and Norway as well as other countries and territories: Monaco, St. Pierre & Miquelon and Switzerland, as this list is published and may be updated from time to time at "SEPA direct debit mandate" or "Mandate" represents an authorization by the Client for Satabank to pay SEPA direct debits drawn by the payee as well as an authorization by the Client for the payee to collect its due amounts from the Client s account. 2. SEPA direct debit main characteristics 2.1. The SEPA direct debit scheme enables the Client to make payments in EUR currency to the payee through the Bank within the Single Euro Payments Area (SEPA) where the payments are initiated by the payee on the basis of a prior consent given by the Client. SEPA comprises the countries and territories described above in the List of SEPA countries and territories The client understands and agrees that in order to execute payments by SEPA direct debit: (i) the payee and the payee s payment service provider must use the SEPA Direct Debit Core Scheme and (ii) the Client must give the SEPA direct debit mandate to the payee before the payment transaction. The payee initiates the respective payment transaction by submitting orders for direct debit transaction (recurrent or oneoff) to Satabank via its payment service provider When applying SEPA Direct Debit Service the Client must use the IBAN, BIC of Satabank provided by Satabank as Client s unique identifier vis-à-vis the payee. The Client understands and agrees that Satabank is entitled to execute the payment by SEPA direct debit solely on the basis of the unique identifier provided to it. Satabank and the intermediary institutions involved will execute the payment to the payee using the IBAN, plus for cross-border payments the BIC, indicated in the direct debit data set presented by the payee. 3. SEPA direct debit mandate 3.1. The Client agrees that the SEPA direct debit mandate must be given to the payee in writing or electronic form as may be provided by the payee of the Client The Mandate must contain the following statements by the Client: (i) a statement authorizing the payee to collect payments via SEPA direct debit from the Client s account held in Satabank; and

2 (ii) a statement instructing the Bank to pay SEPA direct debits drawn by the payee on the Client s account. The Mandate must contain the following authorization data: (iii) identification of the payee; (iv) creditor identifier; (v) indication of whether the Mandate is for a one-off or recurrent payment; (vi) name of the Client; (vii) name of the Client s bank; and (viii) Client s unique identifier (IBAN and BIC code). The direct debit mandate may contain additional details supplementing the authorization data The Client understands and agrees that the Mandate given by the Client to the payee shall remain with the payee. The Client agrees that the payee shall take over the authorization data and enter any additional details in the data set for collection of SEPA direct debits such as the amounts to be collected The Client acknowledges that the payee shall send the data set for collection of the SEPA direct debit to Satabank through the payment service provider of the payee. This data set shall also represent the Client s instruction to Satabank to perform the collection and execute the respective SEPA direct debit Satabank reserves its right to approve or decline the form of the mandate and/or when necessary to request verification of the Mandate given by the Client to the payee in order to protect the Client s interests from any attempt for fraud. 4. Collection authorization as a SEPA Direct Debit Mandate 4.1. The Client understands and agrees that by providing the Mandate to the payee the Client authorizes the payee to request Collection of payments from Satabank account of the Client under SEPA direct debit and at the same time thereby instructs Satabank upon receiving a Collection to pay the direct debits drawn from Client s account by the payee. 5. Revocation, Refusals, Limitations and other instructions 5.1. Revocation of the SEPA direct debit mandate (1) The Client is entitled to revoke at any time the SEPA direct debit Mandate by submitting a request to Satabank via sent from the register address of the Client or in other manner as may be provided by the Service where the Client must specify the reference number of the Mandate that Client wishes to be revoked. The Client understands and agrees that after submitting a Revocation Satabank shall consider any subsequent payment transaction under the specific Mandates no longer authorized. (2) The Client agrees that when given to Satabank, the request for Revocation shall take effect from the business day following the day on which it is received by Satabank. In case where the Revocation coincides with a pending debit entry the Client might be instructed by Satabank to submit also a Refusal for the specific debit entry under the SEPA direct debit. In addition the Client must communicate the Revocation to the payee so that the payee does not continue to collect any further direct debits. 6. Refusal and Limitation of SEPA direct debits 6.1. The Client is entitled to separately instruct the Satabank via sent from the register address of the Client or in another manner allowed by the Service to refuse certain payment transactions under SEPA direct debits. The Client understands that the Refusal has to be communicated to Satabank at least two working days before the due date of the payment transaction under specific SEPA direct debit mandate otherwise Satabank shall perform the payment transaction. In addition this instruction must be communicated to the payee by the Client as Satabank is not obliged to notify the payee. By receiving this instruction Satabank shall not perform the collection of SEPA direct debit specified in the instruction.

3 6.2. The Client is entitled to limit any of payment transaction specified under SEPA direct debit mandate in terms of frequency and/or amounts by sending an instruction to Satabank via sent from the register address of the Client or in another manner allowed by the Service. The Client understands that the limitation has to be communicated to Satabank at least two working days before the due date of the payment under specific SEPA direct debit mandate otherwise Satabank shall not apply the limitation to the specific payment transaction/s. In addition this limitation must be communicated to the payee by the Client as Satabank is not obliged to notify the payee. By receiving this instruction Satabank shall perform the collection of SEPA direct debit in accordance with the limits set in the instruction. 7. Blocking payments under SEPA direct debit 7.1. The Client is entitled at any time during the use of the Satabank Services to block its account as allowed by the Service for any collections of SEPA direct debit received by Satabank. The Client understands that by choosing this option the Client instructs Satabank to reject any collection of direct debit received from the service providers of payees. 8. Payment transaction based on the SEPA direct debit 8.1. Debiting the direct debit amount to the Client s account On receipt of collection of SEPA direct debit by the payee, the amount specified by the payee shall be debited from the Client s account on the due date indicated in the direct debit data set. If the due date is not a business day the Client s account shall be debited on the following business day. The Client agrees that the cut-off time for processing SEPA direct debit is 15:00 CET Non-execution and return of payments by Satabank: (1) The Client s account shall not be debited or a debit collection shall be cancelled no later than the third business day after it was made if: Satabank has received notice of Revocation of the SEPA direct debit mandate before the specified due date of the payment under the SEPA direct debit mandate; the IBAN indicated by the payer in the direct debit data set cannot be assigned to any account held by the Client with the Bank; or The account of the Client is closed; or The account is blocked for direct debit payments or blocked for other reasons; or The Client does not have enough money for the direct debit operation or Satabank has blocked amounts of money expecting Client identification or verification as per the rules of Satabank and the applicable laws; or The Client has to be identified or verified as per the rules of Satabank and the applicable laws; or For risk and compliance reasons at discretion of Satabank. The Client has to be identified or verified as per the rules, or The direct debit cannot be processed by Satabank because the direct debit data set: does not contain a creditor identifier or contains one which is evidently wrong to Satabank; does not contain a mandate reference; does not indicate the date on which the mandate was given or; does not indicate the due date. (2) In cases where the Client does not have a sufficient balance in its account for payment of the direct debit the Client acknowledges and agrees that Satabank shall not debit the Client s account and shall keep the debit entry as pending for a period of 3 (three) business days as of the due date after which Satabank shall return the collection for payment to the payee if the Client does not provide sufficient funds. Satabank shall not pay partial amounts under SEPA direct debit. (3) In cases where the Client s account is blocked by Satabank, including, but not limited in cases of pending identification or verification of the Client, the Client acknowledges and agrees that Satabank shall not debit the Client s account and shall keep the debit entry as pending for a period of 3 (three) business days as of the due date after which Satabank shall return the collection for payment to the payee if the reason for blocking the account is not rectified Notification of non-execution or cancellation of the debit entry or refusal of payment

4 (1) Satabank shall immediately inform the Client without delay of non-execution or cancellation of the debit entry or return of payment under SEPA direct debit via sent from the register address of the Client or in another manner as agreed by the Client. Satabank shall, if possible, state the reasons and indicate ways in which errors that led to the nonexecution, cancellation or refusal can be rectified. The Client is able to view all its payments under SEPA Direct Debit Service in its online account provided by Satabank. (2) Satabank shall charge the Client with a fee set out in the Tariff when informing the Client of a justified return to perform a payment under an authorized SEPA direct debit due to a lack of funds Execution of the payment (1) The Client understands that Satabank shall pay the amount specified in the SEPA direct debit mandate to the Service Provider of the payee on the due date of the direct debit by clearing and settlement of its bank account held in TARGET for SEPA Core Direct Debit. (2) If the due date is not a business day the execution period shall commence on the following business day. (3) The Client will be informed of the execution of the payment through the agreed account information channel and at the agreed frequency Inactivity under SEPA direct debit mandate (1) The Client agrees that Satabank is entitled to reject a collection for payment transaction under specific Mandate and to cancel that Mandate if Satabank has not been presented by the payee s Service Provider with a Collection under the specific Mandate for a period of 36 months (starting from the date of the latest Collection presented, even if rejected, returned or refunded). If the Client wishes to further use SEPA direct debit with this payee the Client must establish a new Mandate. 9. Right of Refund. Compensations 9.1. Refund for an authorized payment (1) If a payment which has been made on the basis of a SEPA direct debit is authorized, the Client shall be entitled to claim a refund of the amount debited from Satabank without necessity of providing any reasons to its claim. Such claim must be made within eight weeks starting from the date on which the Client s account was debited. Satabank shall restore the balance of the Client s account to what it would have been without debiting for the payment. Any claims by the payee against the Client shall not be affected by this. (2) The Client agrees that the right to a refund under the paragraph above shall be precluded as soon as the amount of the direct debit entry has been explicitly authorized by the Client directly before Satabank Refund for an unauthorized payment (1) If a payment is not authorized by the Client, Satabank shall have no claim against the Client for reimbursement of its expenses. It shall be obligated to refund the amount debited from the Client s account back to the Client without delay and to restore the balance of this account to what it would have been without debiting for the unauthorized payment. (2) The right of the Client for a refund for unauthorized payment shall be precluded if the Client fails to inform the Bank thereof within a period of 13 months at the latest after being debited for an unauthorized or incorrectly executed payment. This period shall start to run only once the Bank has informed the Client about the debit entry for the payment through the agreed account information channel no later than one month after the debit entry was made; otherwise the date on which the Client is informed shall determine when the period commences Refund for non-executed or incorrectly executed authorized payments (1) If an authorized payment is not executed or not executed correctly, the Client is entitled to request Satabank to refund the direct debit amount in full without delay insofar as the payment was executed incorrectly. Satabank shall then restore the balance of the Client s account to what it would have been without debiting for the incorrectly executed payment transaction.

5 (2) Satabank agrees that over and above the right under paragraph 1, the Client may request the Bank to refund the charges and interest levied on Client or debited from Client s account in connection with the non-execution or incorrect execution of the payment. (3) In case a payment transaction was not executed or not executed correctly, Satabank shall immediately upon Client s request make all reasonable efforts to trace the payment transaction and notify the Client of the outcome. (4) The Client acknowledges and agree that any liability of Satabank shall be precluded if Satabank proves to the Client that the full amount of the payment reached the payee s payment service provider in due time or if the payment was executed in conformity with the incorrect unique identifier of the payee provided by the payee. (5) Any claims and any objections by the Client against the Bank as a result of non-execution or incorrect execution of payments shall be precluded if the Client fails to inform the Bank thereof within a period of 13 months at the latest after being debited for an unauthorized or incorrectly executed payment. This period shall start to run only once the Bank has informed the Client about the debit entry for the payment through the agreed account information channel no later than one month after the debit entry was made, otherwise the date on which the Client is informed shall determine when the period commences Compensations in other cases (1) If an authorized payment is not executed or not executed correctly or if a payment is unauthorized, the Client may request the Bank to provide compensation for any loss or damage which is not already covered by the rights of the Client for Refund of an unauthorized payment or Refund for non-executed or incorrectly executed authorized payments. The Client agrees that the right for compensation is precluded if Satabank is not responsible for the neglect of duty. If the Client has contributed to the occurrence of any loss or damage through culpable conduct, the principles of contributory negligence shall determine the extent to which the Bank and the Client must bear the loss or damage. (2) Liability under paragraph 1 shall be limited to EUR 3000,00. This limitation on liability shall not apply to (i) unauthorized payments or (ii) cases of deliberate intent or gross negligence by the Bank (iii) risks which the Bank has assumed on an exceptional basis and, (iv) if the Client is a consumer, loss of interest incurred by the Client. (3) Any claims for compensation by the Client under this Schedule shall be precluded if the circumstances substantiating the claim: (i) are based upon an abnormal and unforeseeable event beyond the control of Satabank and whose consequences could not have been avoided even by exercising due diligence; or (ii) were brought about by the Bank as a result of a statutory obligation. 10. Satabank General terms and conditions applicability (1) All terms and conditions of Satabank, including but not limited to liability, assignment, acceptance policy, privacy policy, applicable laws and jurisdiction and others, shall apply respectively to this Schedule.