Payment Service Agreement

Preamble

The Account Holder is invited to read this Framework Agreement carefully before accepting it. It is informed that Studely is a Partner mandated by TREEZOR to market the Payment Services to the Account Holder as a payment service provider agent.

The Framework Contract is concluded between: The Holder, designated in the Special Conditions, a natural person residing in a Member State of the European Union or in a State party to the European Economic Area acting for non-professional needs. hereinafter referred to as the « Holder » on the one hand and,

Treezor, Simplified joint-stock company, registered with the Paris Trade and Companies Register under number 807 465 059, whose registered office is located at 33 avenue de Wagram, 75017 Paris, acting as an electronic money institution within the meaning of Article L.525-1 of the Monetary and Financial Code and approved by the Prudential Control and Resolution Authority (« ACPR »), located at 4 Place de Budapest CS 92459 75436 Paris Cedex 09 as an electronic money institution under number 16798, approval available on the ACPR website in the Register of financial agents (REGAFI): www.regafi.fr. hereinafter referred to as « the Establishment » or « Treezor », on the other hand and,

Studely, Simplified joint-stock company, with a capital of eleven thousand nine hundred and four euros €11,904, whose registered office is located at 12 Rue des Bateliers, 92110 Clichy in France. Registered in the Commercial Register of Nanterre Companies under Siret number 820 541 449, acting as payment agent for Treezor, and operating the trade name Studely, hereinafter referred to as « the Partner » hereinafter collectively referred to as the « Parties ».

1. CONTRACTUAL DOCUMENTS The Framework Contract is made up of these General Terms and Conditions of Use and its Appendices. It governs the use of Payment Services, covered by Article L. 314-1. II of the Monetary and Financial Code and listed in Article 3 of these General Terms and Conditions of Use.

2. PURPOSE OF THE FRAMEWORK AGREEMENT The purpose of the Framework Agreement is to govern the conditions of use of the Payment Services provided by Treezor to the Account Holder, in return for payment by the latter of the fee agreed in the Pricing Conditions appearing in Article 6 and in Appendix 2 hereof. It governs the conditions for opening, operating and closing the Payment Account. The Payment Account is individual and can only be used to carry out Payment Transactions for own account.

3.DESCRIPTION OF PAYMENT SERVICES

The Online Payment Services provided by the Institution to the Account Holder are as follows: The receipt of Payment Transactions by transfer, direct debit, and the acquisition of Payment Orders by Card credited to the Payment Account The execution of Payment Transactions by transfer, direct debit or Card, debited from the Payment Account. The Establishment does not accept cash payments, check remittances, and does not offer any payment service or related service, other than those specifically described in this Framework Agreement. The Establishment does not grant any credit or discovered.

The Account Holder acknowledges that he can only open a single Payment Account allocated exclusively to carrying out Payment Transactions within the framework of the use of the Partner's Site.

If the Account Holder has a business relationship with other partners, he is informed that he will have to open a payment account dedicated to the use of each partner site. The Account Holder acknowledges that in order to respond to his request to open subsequent payment account(s), the Establishment will use the information and data previously collected as part of this first request,

Any eligible prospect may send, via the Site, a request to open a Payment Account used for the purposes of executing Payment Transactions. To this end, he must complete the Specific Conditions and attach the documents that will be requested by the Establishment.

If the request to open an account is accepted by the Establishment, in accordance with Article 7 hereof, the prospect becomes the Holder of a Payment Account. The Holder may subscribe to one or more Card(s) whose conditions of subscription and use are provided in Appendix 4.

Access to the online Profile is secured by a Username and a password that the Account Holder undertakes not to disclose to third parties, in particular by carrying out all the necessary due diligence. This constitutes an essential condition for securing the relationship between Treezor and the Account Holder. To be able to conclude the Distance Contract and use the Payment Services, the Account Holder must have equipment (hardware and software, hereinafter the « Equipment» ), for which he is solely responsible, compatible with the Site as well as an internet or telecom connection. Information relating to the Equipment is available on the Site. The Account Holder is personally responsible for upgrading or updating the Equipment necessary for the use of the Payment Services. The Account Holder in particular prohibits breaking the native protection of the operating system of its Equipment and must protect its Equipment with an anti-virus and firewall produced and developed by a well-known software p ublisher renowned for the reliability of its solutions.

4. ACCEPTANCE OF THE FRAMEWORK AGREEMENT BY THE HOLDER

The Framework Contract is accepted by the handwritten or electronic signature of the Holder. The Framework Contract may be signed remotely, the Parties acknowledging that an electronic signature has the same value as a handwritten signature.

The language used for drafting the contractual documents and subsequent communications between the Parties is French. The Account Holder may request, at any time and free of charge, a copy of the Framework Contract.

The Framework Agreement represents the entire agreement between the Parties and supersedes all prior agreements or representations, oral or written, relating to their subject matter.

5. DEFINITIONS

6. PRICING AND COMPENSATION

In return for the Payment Services provided, the Cardholder shall pay the Partner the fee agreed in the Rates Conditions, with the latter being responsible for returning them to the Institution in the amounts agreed between them. It is expressly agreed that the revocation of a Payment Order and the provision of information, in particular as provided for in Article 7 hereof, may give rise to the collection of specific fee.

The Cardholder expressly authorizes the Institution to pay all fee owed by the Cardholder and due under the Master Agreement by debit from the Cardholder's Payment Account.

The Parties agree that the reciprocal debts of the Institution and the Holder resulting from the execution of the Master Agreement shall automatically be transformed into simple credit and debit items within the limit of the available provision of the Payment Account. After compensation, these debits and credits form a net credit or zero balance on the Payment Account. In the absence of sufficient funds on the Payment Account, the amount still owed by the Holder after clearing is entered on the statement of his Payment Account on a specific line corresponding to a debt due.

Notwithstanding the foregoing, the Grantee and the Institution agree to set off any and all debts due and owing to each other arising out of the performance of the Master Agreement or any other contract.

The Institution may, in addition, exercise a right of retention on all sums, bills and securities deposited with it by the Account Holder, until payment of any balance and, more generally, of any other sum owed by the latter to the Institution and the Partner.

7. OPENING A PAYMENT ACCOUNT Before being able to send an application to open a Payment Account, the prospect confirms that he/she is capable of and resident in a Member State of the European Union or in a State party to the European Economic Area.

Any request to open a Payment Account requires the Holder to enter the requested identification information on the Site or to transmit it by any other means. The Cardholder authorizes the Partner to transmit to the Institution the information and personal Data concerning him/her necessary for the constitution of his/her request. The Institution reserves the right to request any other document or additional information, in order to allow it to carry out the verifications necessary to comply with its legal obligations, including the fight against money laundering. The Account Holder agrees that the Partner may send all such information and documents to the Institution by computer transmission on the Institution's computer systems or by post.

The Institution implements additional due diligence within the meaning of Article R.561-20 of the Monetary and Financial Code as soon as the conditions for application of this article are met. Measures to verify and certify documents will thus be carried out.

The Institution may, at its own discretion and without having to justify its decision, refuse any request to open a Payment Account. This decision shall not give rise to any damages. It will be notified by email to the applicant.

If the Institution accepts the Holder's application, it shall confirm to the Holder, by any means through the Partner, the acceptance of the opening of his Account.

To finalize the opening of his Payment Account, the Account Holder must create a Profile on the Site in order to authenticate him using an Identifier, a confidential code and/or a single-use code when transmitting an Order, in accordance with the present terms and conditions and the authentication procedures in force.

8. OPERATION OF THE PAYMENT ACCOUNT

8.1. General description The Institution is responsible for maintaining the Payment Account and executing the associated Payment Transactions.

The Payment Transactions are executed by charging the corresponding amount to the : Crediting of the Payment Account when the funds received follow the receipt by the Institution of Payment Transactions by Transfer or the acquisition of Payment Orders by Card, Debit of the Payment Account, when the funds transferred follow the execution by the Institution of Payment Transactions by transfer, by direct debit or by Card.

The Payment Account is held in euros. The Institution and the Partner do not have any premises or counters and cannot offer the Cardholder the possibility of carrying out cash transactions, deposits or withdrawals at a counter of its network. No overdraft transaction may be authorized. Thus, in the event of a Payment Transaction executed without sufficient funds, the Partner shall notify by any means the amount due by the Cardholder and its obligation to credit, as soon as possible, its Payment Account with an amount sufficient to settle the said amount and any intervention fee due in accordance with the Rates Conditions. The Account Holder must give their consent by identifying themselves and following the Strong Authentication procedure on the Site so that the Institution can execute a Payment Transaction or a series of Payment Transactions. However, consent to the execution of a Payment Transaction may also be given by mandating a payment service provider providing a payment initiation service.In the absence of such consent, the Transaction or series of Transactions is deemed to be unauthorized. The fee due by the Account Holder under the Framework Contract are debited by the Establishment from the latter's Payment Account.

8.2. Payment Account information and payment initiation services The Account Holder may: access their Payment Account data through a payment service provider of their choice providing the account information service initiate a Payment Transaction (transfer), through a payment service provider providing a payment initiation service

The Account Holder must give his express consent to the payment account information provider for access to the Payment Account data and his express consent to the execution of the Payment Transaction, through the payment initiation provider.

These providers must be licensed or registered in accordance with the applicable regulations.

However, the Institution or the Partner may deny a payment service provider providing an account information or payment initiation service access to the Cardholder's Payment Account, based on objectively justified. or documented reasons related to unauthorised or fraudulent access to the account by that provider, including unauthorised or fraudulent initiation of a Payment Transaction.

In such cases, the Partner shall inform the Cardholder of the refusal to access the Payment Account and the reasons for such refusal. This information shall, if possible, be given to the Cardholder prior to the refusal of access and at the latest immediately after such refusal, unless providing such information is not communicable for objectively justified security reasons or is prohibited under another provision of the relevant European Union or French law.

The Partner shall authorize access to the Payment Account when the reasons mentioned above no longer exist.

8.3. Transfers

8.3.1 Issuing SEPA Credit Transfer Payment Orders The Account Holder may issue Payment Orders for transfers in euros from his Payment Account to a payment or payment account opened in the books of a Payment Service Provider in the SEPA zone. To this end, he shall identify himself and authenticate himself before transmitting his Payment Order, indicating in particular: the amount in euros (which may not exceed the amount available for credit to the Payment Account after deduction of charges), the Beneficiary (name and address of the latter's account) the date of execution of the Payment Transaction the periodicity (optional for standing orders), the reason for the Payment Order

The Parties acknowledge that, unless expressly agreed by the Institution, the Holder may only issue SEPA Credit Transfers governed by a common set of rules and practices defined by the European institutions and the EPC. It is denominated and executed in euros between two (2) bank or payment accounts opened by Payment Service Providers in the SEPA zone

The procedures for transmitting Payment Orders set out above shall have the same value as an electronic signature of the Account Holder allowing his/her identification and proving his/her consent.

The Account Holder acknowledges that such Payment Orders transmitted via the Website constitute irrevocable Payment Orders given to the Institution to transfer the funds to the Payee's Payment Service Provider as of their receipt by the Institution. The Holder's revocation of his Payment Order may be accepted if it is received before the Institution receives the Order for immediate execution transfers and before ten o'clock (10:00) a.m. on the Business Day preceding the scheduled execution date for forward transfers.

Where the Payment Order is given by a payment service provider providing a payment initiation service, the Account Holder may not revoke such Payment Order after having given his consent to the payment service provider providing the payment initiation service to initiate the Payment Transaction.

All Transfer Payment Orders shall be time-stamped and retained for the applicable legal retention period. It is expressly agreed that transfers will be executed no later than the end of the Business Day following receipt of the request for an immediate transfer and on the agreed execution date for term or standing transfers or on the next Business Day if this date is not a Business Day. A Payment Order received on a Business Day after ten o'clock (10:00) a.m. shall be deemed to be received on the next Business Day.

The Institution may refuse to execute an incomplete or erroneous Transfer Order. The Holder must reissue the Payment Order to bring it into conformity. The Institution may also block a Payment Order in the event of serious doubts about fraudulent use of the Payment Account, unauthorized use of the Payment Account, a breach of the security of the Payment Account, the freezing of assets by an administrative authority or insufficient funds on the Payment Account, 8.3.2 Receipt of Payment Transactions by SEPA Credit Transfer The Account Holder expressly authorizes the Institution to receive Payment Transactions by transfer from an account opened by a Payment Service Provider in the SEPA zone in euros on his Account

The Institution collects the funds in the name and on behalf of the Account Holder and credits the latter's Payment Account as soon as possible following the crediting of the funds to its own account, except in the case of legal provisions applicable to the Institution requiring its intervention. After the funds have been credited to the Holder's Payment Account, the Holder receives a payment summary containing the following information: amount, date and time, number of the Payment Transaction, name of the payer, the account debited and the payee, and the reason received by the Institution

8.4. Direct debit payment orders (debiting the Payment Account) General Provisions The Holder (debtor) expressly authorises the Institution to debit his Payment Account with the amount in euros corresponding to the Direct Debit Orders received

Formalisation of the Mandate The direct debit data is formalised in a document entitled «SEPA Business to Business Direct Debit Mandate» or «SEPA Core Direct Debit Mandate» sent by the Creditor. The Account holder (debtor) who accepts this method of payment, which is debited from his Payment Account, completes, verifies and signs a mandate which he gives to his creditor, including his IBAN and BIC bank details as well as those of his creditor. The Cardholder's creditor is identified by an ICS (SEPA creditor identifier) valid throughout the SEPA zone. The mandate is identified by a RUM (Unique Mandate Reference) which is a mandatory data of the SEPA Direct Debit provided by the creditor of the Holder. The direct debit authorization is only valid for the mandate in question

Modification of the Mandate Any change in the terms of the mandate must be notified to the Institution no later than the business day preceding the due date. If necessary, the Payment Transaction may be rejected without the Institution being held liable for this rejection

The Account Holder may, on the Site, request the blocking of a Direct Debit Payment Order on his Payment Account, of Direct Debit Payment Orders from one or more creditors, to authorize one or more creditors to issue such Payment Orders, or to limit the amount or period of time of Direct Debit Payment Orders. Such requests shall be executed by the Partner

R-transactions The Holder may refuse the execution of Payment Transactions by SEPA Direct Debits on his Payment Account. This refusal must be notified by letter to the creditor, the Institution and the Partner. The Cardholder must then agree on another means of payment with the creditor. If the creditor refuses to take this request into account or can no longer interrupt the execution of the Direct Debit Order, as well as in the other cases where the Holder is entitled to do so, the Holder has the possibility, at the latest at the end of the Business Day preceding the due date before the cut-off time defined by the Institution, to oppose a Direct Debit Order before its execution or to revoke a mandate. The revocation of a mandate entails the withdrawal of consent to any Payment Order relating to this mandate whose due date occurs at the earliest at the end of the Business Day preceding the due date before the deadline defined by the Institution. This revocation is made by the Holder to his creditor. The Holder must inform the Institution as soon as possible via the Website or the Customer Service. Where applicable, the Institution shall not be held responsible for any failure to inform the Account Holder and for any direct or indirect consequences resulting therefrom for the Account Holder

Upon receipt of the pre-notification from the creditor informing him/her of the amount and due date of the SEPA Direct Debit Transaction(s), the Account Holder shall check its compliance with the agreement concluded with his/her creditor. In the event of disagreement, the Cardholder must immediately intervene with his creditor so that he suspends the execution of the SEPA Direct Debit. The Establishment may issue within five (5) Business Days: A rejection of the direct debit before the settlement date of the Payment Transaction in the event of erroneous bank details of the Holder or at the request of the Holder in the event of an unauthorized Payment Transaction; A return of the direct debit after the settlement date, in the event of insufficient funds on the Payment Account or in the event of a request for reimbursement by the Account holder, in the event of a dispute over a Payment Transaction that does not comply with the Account holder's expectations or a Transaction that has not been authorised by the Account holder

Execution of the Direct Debit Payment Order Before executing the Direct Debit Order, the Institution and the Partner shall check the validity of the Account Holder's details and the absence of any non-payment instructions. The time of receipt of the SEPA Direct Debit Payment Order by the Institution is the due date, in accordance with the schedule agreed between the creditor and the Cardholder. The Payment Service Provider sends the SEPA Direct Debit Payment Order to the Institution within the timeframe agreed between the creditor and its Payment Service Provider. These deadlines must allow for settlement on the agreed date.

The Account Holder receives a summary of the Payment Transaction containing the following information: amount, date and time, payment transaction number, name of the Beneficiary (creditor), name of the Payment Transaction, RUM, reason communicated by the creditor, and the creditor reference of the direct debit

It is specified that a direct debit order may be the subject of a request for reimbursement by the debtor to his payment service provider within eight (8) weeks of the debiting of the debtor's account or in the case of unauthorized Payment Orders within thirteen (13) months (unless otherwise provided for in the contract), resulting in the automatic reversal of the debit entry on the Holder's Payment Account by the Institution, without prejudice to the results of the search for evidence.

8.5. Cards The transferred funds result from the Cardholder's payment orders given on the Site. Only CB, Visa or MasterCard cards allowing the transfer of funds by card from account to account by the holder of the said accounts are accepted by Treezor according to these conditions

The Account Holder acknowledges that he/she will act as an acceptor in receiving funds from the card networks. The Account Holder commits to respect all applicable provisions defined by the law, regulations, professional standards or contractual provisions of the card networks which may be applicable. The Cardholder acknowledges that he/she may be subject to sanctions or fines in the event of non-compliance with these rules

In case of refusal of the Payment Order by Treezor, the Site immediately generates an alert message indicating to the Holder that the Payment Order could not be authorized, inviting him/her, depending on the reason, to try again later and to contact the Customer Service of the Partner or the payer

The Institution shall credit the Holder's Payment Account at the latest on the Business Day on which its own account was credited with funds. The Creditor shall receive from the Partner a payment summary containing the following information: amount, date and time, payment Transaction number, and reference number transmitted by the Creditor

In the event that the Cardholder fails to comply with the obligations hereunder or with the laws in force, the Institution or Partner may take safeguard and security measures. The Institution or the Partner may thus send a warning to the Licensee, equivalent to a formal notice and specifying the measures to be taken to remedy the breach. The Institution or the Partner may also decide ipso jure, with immediate effect, to suspend the Payment Account in the event of failure to comply with the provisions hereof or in the event of violation of the legislation on the fight against money laundering and the financing of terrorism or any other legislation applicable thereto

It is specified that a Card Payment Order may be the subject of a request for reimbursement by the debtor to his payment service provider within thirteen (13) months following the Payment Transaction, resulting in the automatic reversal of the debit entry on the Holder's Payment Account by the Establishment at the request of the Partner. The Holder undertakes to accept such reversal

8.5.1 Execution of Card Payment Orders

The Institution executes the Payment Orders of the Card associated with the Holder's Payment Account. The conditions for the allocation and operation of the Card are set out in Appendix 4

8.5.2 Foreign Exchange Transactions associated with Card Payment Transactions

Card Accounts are technical accounts in euro or in the Payment Account currency used to execute Payment Transactions made with the Card. The funds credited to the Card Accounts are dedicated to the execution of the Card Payment Transactions. The Card Accounts must have sufficient funds in foreign currency or in euro before the Cardholder sends the Card Payment Order. As far as currencies are concerned, it is the responsibility of the Account Holder to fund each Card Account in a foreign currency via the Website by ordering a transfer from the Payment Account to the Card Account in the designated currency. The foreign exchange transaction is carried out provided that the Cardholder has sufficient funds in Euros on his/her Payment Account. The conversion into foreign currencies is carried out by the Institution on the day the Transaction is processed and at the exchange rate obtained by the Institution, to which are added the fee indicated in Appendix 2. The Account Holder may also transfer currencies from one Card Account to another Card Account or to the Payment Account via the Site. The foreign exchange transaction is carried out provided that the Cardholder has sufficient funds in Foreign Currencies on his Card Account. The conversion into euros or another currency is carried out by the Establishment on the day the Transaction is processed and at the exchange rate obtained by the Establishment to which are added the fee indicated in Appendix 2

8.6. Reporting A statement of the Payment Transactions recorded in the Payment Account shall be sent or made available monthly by the Partner to the Holder on the Site in order to facilitate the Holder's monitoring of his Payment Account. This monthly statement shall be deemed authentic between the Parties. The statement shall detail the Payment Transactions charged to the Payment Account and shall include all transactions made by card in order to make it easier for the Cardholder to monitor his Account. The payment transaction statement shall include the following information: amount of transactions, exchange rate applied, amount of Card Payment Transactions in foreign currency, amount of commissions. The statement also indicates the balance of the Card Account

It is the Cardholder's responsibility to communicate his or her exact address on the Site, as well as any subsequent changes. In the absence of information or erroneous information, the Establishment shall in no case be liable for any prejudicial consequences for the Account holder

The Account Holder is advised to keep the Payment Account statements in case of dispute and to check the contents of the statement systematically. For any claim, he is invited to comply with Article 22

A summary statement of charges will be made available annually on the Site

The conditions of access to the Payment Account are defined by the Partner in the general conditions of use of the Site.

9. STOP PAYMENT AND BLOCKING - DISPUTING A PAYMENT TRANSACTION

9.1 Methods of opposition by the Holder The Account Holder as soon as he becomes aware of a theft or loss of his data, must request the blocking of his Payment Account as soon as possible. Declarations of fraudulent use of the Payment Account or loss or theft of the mobile phone must be made by email contact@studely.com or telephone Customer Service 00331 80 88 90 77.

They must be justified by registered letter with acknowledgment of receipt addressed to Customer Service. The Account Holder is informed that any false declaration within the framework of the Framework Contract is liable to penalties provided for by law.

A registration number of this opposition is communicated to the Holder by the Site and is kept for eighteen (18) months by him. At the Holder's written request and before the expiry of this period, the Site will communicate a copy of this objection.

9.2 Effets de l’opposition par le Titulaire – Blocage du Compte de paiement The request for opposition is taken into account immediately by the Partner who communicates it as soon as possible to the Establishment in order to block the Payment Account. The Establishment cannot be held responsible for consequences of an opposition that does not come from the Account Holder. The opposition request is deemed to have been made on the date of receipt. of the request by the Establishment or any person authorized by it for this purpose. In case of theft or use fraudulent, the Establishment is entitled to request a receipt or a copy of the complaint from the Account Holder who undertakes to respond as soon as possible.

9.3 Blocking of the Payment Account at the initiative of the Institution In addition, the Establishment may block the use of the Payment Account on its own initiative for reasons relating to its security, in the event of presumption of unauthorized or fraudulent use as well as in the event of a significantly increased risk inability by the Account Holder to fulfill his payment obligation. This decision is reasoned and notified to the Account Holder by any means. As soon as a Payment Account receives a significantly large number of refunds, cancellation of orders or dispute for unauthorized orders, the Establishment may block the operation of the Payment Account.

9.4 Dispute of a Payment Operation

9.4.1 Disputes regarding Payment Transactions Claims relating to the commercial relationship between the Account Holder, a Payer or a Payee are not admissible by the Institution. Only claims relating to the failure or improper execution of a Payment Order given by the Account Holder to the Institution are covered by this Article and by the Framework Agreement

If a Payment Transaction is executed by the Institution with errors due to a fault of the latter, the debit of the Payment Account is cancelled and the Payment Account is restored to the situation in which it was before the receipt of the Payment Order concerned. Thereafter, the Payment Order shall be correctly represented

The Cardholder who wishes to dispute a Payment Transaction not authorized by him/her must contact the Customer Complaints Department or use the appropriate form on the Site as soon as possible and within a maximum period of thirteen (13) months from the date on which the disputed Payment Order was debited to the account on which the Card operates.

However, the maximum period during which the Cardholder may dispute a Payment Transaction is set at seventy (70) days from the date on which the disputed payment order was debited to the said account, when the Beneficiary's Payment Service Provider is located outside the European Economic Area, and outside Saint Pierre and Miquelon.

It is specified that any dispute which has not been formulated without delay will only be admissible in the event of a delay duly justified by the Account Holder

After validating the legitimacy of the request, the Institution shall proceed immediately after having taken cognizance of the Payment Transaction and at the latest by the end of the first working day following the refund of the Payment Transaction unless it has good reason to suspect fraudulent behaviour on the part of the Holder

When the unauthorized Payment Transaction was initiated through a payment service provider providing a payment initiation service, the Institution shall proceed immediately and at the latest by the end of the first following Business Day to refund the Payment Transaction. The Institution shall restore the Payment Account to the status it would have been in had the disputed Payment Transaction never been made.

Disputes concerning the price of goods or services purchased are not admissible by the Institution. Only those concerning a Payment Transaction are covered by this article. The Institution remains unaffected by any dispute that may arise between the Cardholder and a third party. The existence of such a dispute can in no way justify the Holder's refusal to honour the settlement of a Payment Transaction

9.4.2 Refund of unauthorized or incorrectly executed Payment Transactions

In the event of a dispute by a Cardholder within thirteen (13) months following the debit of the Payment Account, of an unauthorized or incorrectly executed Payment Transaction, it is the responsibility of the Institution to prove that the Payment Transaction was authorized in accordance with the conditions set out in the Framework Agreement. In the absence of proof by the Institution that the Payment Transaction was authorized, the Institution shall proceed immediately after becoming aware of the Payment Transaction and at the latest by the end of the next business day to reimburse the Payment Transaction unless it has good reason to suspect fraudulent conduct on the part of the Cardholder Where the unauthorised Payment Transaction was initiated through a payment service provider providing a payment initiation service, the Institution shall immediately and at the latest by the end of the first business day thereafter refund the Payment Transaction. The Institution shall restore the Payment Account to the status it would have been in had the disputed Payment Transaction never been made, in the form of a temporary credit The Payee may submit to the Institution a request for reimbursement of a Payment Transaction ordered through the Payee and authorized by the Payee if the authorization given did not indicate the exact amount of the Payment Transaction and if the amount of the Transaction exceeded the amount that the Payor could reasonably expect. This request must be made within eight (8) weeks of the date the funds were debited from the Payment Account and is for the entire Transaction. No request for a partial refund can be processed by the Establishment. The Account Holder must provide all information relating to the requested refund. The Institution shall assess the legitimacy of the request based on these elements, the Holder's past spending profile, the terms of the Agreement and the circumstances of the Transaction. The Institution shall notify the Cardholder within ten (10) business days of receipt of the request for reimbursement to make the reimbursement or to justify its refusal to do so. The Cardholder may also file a dispute with the Institution when, during a cash withdrawal, he/she has not received the full amount requested. The request for reimbursement must be made before the expiration of a period of eight (8) weeks from the date on which the Payment Transaction, which is the subject of the request for reimbursement, was debited to the Payment Account on which the Card operates. The amount of the refund shall then be equal to the amount not received. The parties agree to take the utmost care in informing each other of the conditions under which the transaction was carried out. Where applicable, and in particular in the event of fraud or suspected fraud committed by an identified or unidentified third party, the Institution may request a copy of a complaint.

9.4.3 Responsibility of the Parties The Cardholder shall take all measures to preserve the Card and the confidentiality of the Personalized Security Data attached to it, including the PIN. To this end, the Cardholder must use the Personalized Security Data in accordance with the purposes specified in this Master Agreement. The Cardholder shall bear the consequences of the use of the Card until he/she has made a request to stop the use of the Card in accordance with Article 9 above. The Institution is responsible for the proper execution of the Payment Transactions vis-à-vis the Holder. When the payment order is given by the Payee Holder, the Institution is responsible for the proper execution of the Payment Transaction vis-à-vis the Payor until the amount of the Payment Transaction is received. Thereafter, the Payee's payment service provider is responsible to the Payee for the proper execution of the payment transaction. Furthermore, neither the Institution nor the Partner can be held liable for any losses caused by unauthorized Payment Transactions in the event of fraudulent conduct on the part of the Cardholder, or in the event of a wilful or grossly negligent breach of obligations by the Cardholder (such as, in particular, late transmission of a stop payment).

9.4.3.1 Unauthorized transactions made prior to the stop payment request In the context of unauthorized Payment Transactions resulting from the loss or theft of the Card or the Personalized Security Data associated with it, the Holder bears the losses related to the use of the Personalized Security Data associated with the Card. before the opposition described in article 7, within the limit of fifty (50) euros.

However, its liability is not engaged in the event of Payment Transactions carried out: Without using Personalized Security Credentials ; Following the loss or theft of a payment instrument and if the act could not be detected by the Holder before the Payment Transaction; Following the misappropriation, without the knowledge of the Holder, of the payment instrument or the Personalized Security Data linked to it ; Following the loss of Personalized Security Data due to the acts or failure of an employee, agent or service provider of the Establishment ; Without the Institution requiring Strong Authentication from the Beneficiary’s Payment Service Provider.

However, when the Beneficiary's Payment Service Provider is located in a State that is not a member of the European Union or a party to the agreement on the European Economic Area, the Payment Transactions following the loss and theft of the Card are the responsibility of the Cardholder within the limit of fifty (50) euros in the event of Payment Transactions carried out without use of personalized security data.

9.4.3.2 Unauthorized operations carried out after the opposition request Unauthorized payment transactions, carried out after the opposition request, are the responsibility of the Partner, with the exception of those carried out by the Cardholder.

By way of exception, all unauthorized transactions are the responsibility of the Cardholder, without limitation of amount, if : The Cardholder has not fulfilled, intentionally or through gross negligence, the obligations referred to in this Framework Contract; Where The loss, theft, misappropriation or any unauthorized use of its Treezor Payment Accounts or its Card results from fraudulent action by the Cardholder. A Payment Transaction is not considered to be unauthorized or incorrectly executed if the good or service which is the subject of it is not delivered or executed under the conditions provided for by the Beneficiary of the Transaction. Thus, these Payment Transactions cannot be the subject of a request for reimbursement from the Establishment or the Partner.

10. CEILINGS The Establishment or the Partner will define the maximum limits applicable to the Account Holder for each of the Payment Transactions on his Payment Account. These ceilings will be communicated to the Account Holder on his Profile and may be modified at any time by the Establishment following compliance with a notice of one (1) month. Nevertheless, the Establishment or the Partner may bring to zero, at any time and without notice, the amount of the authorized ceilings in the event of a risk of fraud or non-payment. The Establishment or the Partner shall in no event be liable for any damages that may result for the Account Holder from the refusal to authorize a Payment Transaction under this Article. The amount of the ceilings applied can be consulted by the Account Holder on his Profile. They will be defined by Operation or by period (per day, per week, per month and per year). The Account Holder is informed that Payment Transactions exceeding one of these limits will be automatically refused by the Establishment. To request authorization for such an Operation, the Account Holder is invited to contact Customer Service or the Establishment.

11. DURATION OF THE FRAMEWORK AGREEMENT - MODIFICATIONS - TERMINATION AND CANCELLATION

11.1 Duration of the Framework Contract The Framework Contract is concluded for an indefinite period from its acceptance by the Parties.

11.2 Changes to the Framework Agreement The Establishment reserves the right, at any time, to modify the Framework Contract. .

Any proposed modification following changes in the regulations applicable to the Framework Contract is notified to the Holder on a Durable Medium, before the date of application proposed for its entry into force, following a notice period of fifteen (15) days from of said notification to the Holder.

In the absence of a written dispute by registered letter with acknowledgment of receipt addressed to the Establishment by the Holder before the expiry of this period of fifteen (15) days, the latter is deemed to have accepted these modifications. In the event of refusal of the proposed modification within the time allowed, the Account Holder may terminate the Framework Contract upon written request free of charge, before the proposed date of entry into force of the latter. This request does not affect all of the debits (fee, contributions, payment) for which the Account Holder remains liable.

In the event of modification of the Framework Contract not following the evolution of the regulations applicable to the Framework Contract, the draft modification of the Framework Contract is notified to the Holder on a Durable Medium, before the date of application proposed for its entry into force, following a notice of two (2) months from the said notification to the Account Holder.

In the absence of a written dispute by registered letter with acknowledgment of receipt addressed to the Establishment by the Holder before the expiry of this period of fifteen (15) days, the latter is deemed to have accepted these modifications. In the event of refusal of the proposed modification within the time allowed, the Account Holder may terminate the Framework Contract upon written request free of charge, before the proposed date of entry into force of the latter. This request does not affect all of the debits (fee, contributions, payment) for which the Account Holder remains liable.

11.4 Resolution in case of breach The Account Holder may at any time request the termination of the Framework Contract. This request must be formalized by a registered letter with acknowledgment of receipt sent (i) directly to the Establishment or (ii) to the Partner, the latter being responsible for informing the Establishment without delay of the termination notified by the Account Holder, by e-mail to the address contact@studely.com followed by a registered letter with acknowledgment of receipt to the address of the Establishment.

The termination will take effect at the end of a period of thirty (30) days from the receipt by the Establishment of said letter (“Effective date of termination”).

The Account Holder must maintain a sufficient balance to ensure the successful completion of the Payment Transactions in progress during the time necessary for their settlement and the payment of the fee due under the Framework Contract.

11.4 Resolution in case of breach In the event of a serious breach by the Account Holder or the Establishment, the Framework Contract may be terminated with immediate effect by registered letter with acknowledgment of receipt. The resolution will take effect from the date of receipt of said letter by, where applicable, the Account Holder or the Establishment (“Effective date of resolution”).

It is understood by serious breaches committed by the Holder: communication of false information, exercise of illegal activity, contrary to morality, suspicion of money laundering or terrorist financing, threats against employees of the Establishment, default of payment, disrespect of an obligation of the Account Holder hereunder, excessive indebtedness, closure of his Profile.

It is understood by serious breaches made by the Establishment: communication of false information, disrespect of an obligation under the Framework Contract, appointment of an ad hoc agent, a judicial administrator, opening of a recovery procedure or liquidation.

In the event of a change in the applicable regulations and the interpretation made of them by the Regulatory Authority concerned affecting the ability of the Institution or its agents to provide the Payment Services, the Framework Contract will be automatically terminated by registered letter with acknowledgment of receipt, the date of receipt of said letter being the effective date of the resolution.

In the event of the appointment of an ad hoc agent, safeguard procedure, reorganization or judicial liquidation, the Establishment may notify by registered letter with acknowledgment of receipt the resolution of the Framework Contract to the agent or liquidator which will take effect upon receipt, subject to applicable legal provisions (“Effective Date”).

11.5 Effect of resolution The Payment Account will be closed on the Effective Date of the cancellation provided that all sums due in accordance with the Framework Agreement have been paid by the Account Holder. This resolution entails termination of the Framework Contract and does not call into question the services previously performed or in progress on the Effective Date. The Account Holder will no longer be able to send a Payment Order from the Effective Date. The Payment Account may be maintained for a period of fifteen (15) months in order to cover any subsequent disputes and complaints. Payment Transactions initiated before the Termination Effective Date will not be called into question by the termination request and must be executed under the terms of the Framework Agreement.

The Partner will notify the Account Holder of the name of a successor designated to the Establishment with a view to providing services equivalent to those provided for in the Framework Contract. The Holder will be invited to enter into a new contract with the designated successor. He must, for this purpose, confirm in writing to the Establishment the transfer of the funds belonging to him, the amount and date of which will be notified to him.

12. HOLDER'S COMMITMENTS As soon as the Account Holder creates a Payment Account, he undertakes to comply with all the provisions of the Framework Agreement.

12.1 Information of the Profile by the Holder The Account Holder guarantees that the information appearing on his Profile is accurate on the day of the request to open the Payment Account and undertakes to update it as soon as possible following changes throughout the duration of the Framework Contract. If applicable, the Establishment and the Partner cannot be held liable for any damage that may result from an inaccuracy or a change in the event that they have not been notified by the Account Holder.

12.2 Confidentiality of the Holder's access codes The Account Holder undertakes to keep the confidential code or any other code secret in order to access or use his Payment Account. In the event of unauthorized use of the Payment Account by a third party, the Account Holder bears the losses resulting from fraudulent acts on his part, intentional breach or gross negligence of his obligations under the Framework Contract.

12.3 Lawfulness of the use of the Payment Account The Account Holder undertakes to operate his Payment Account in compliance with the monetary, tax or legislation relating to financial relations with foreign countries, embargoes, the fight against corruption, money laundering and the financing of terrorism, in force. in France and in the member country of the European Union in which the Establishment is established for the conclusion of the Framework contract. The Holder also undertakes to carry out only activities that comply with the regulations applicable to him. It will bear any fine, sanction or damages borne by the Establishment and resulting from an illegal, illicit or contrary activity or good morals of the Account Holder. As such, the Account Holder undertakes not to carry out or encourage the exercise of criminally sanctioned activity such as the endangerment of minors, acts of pedophilia, acts of counterfeiting of works protected by a property right. intellectual property, non-compliance with the protection of Personal Data, breaches of automated data processing systems, acts of money laundering or terrorist financing, non-compliance with the provisions relating to games of chance, racing horses, lotteries and provisions relating to the conditions for exercising regulated professions.

13. AGREEMENT OF PROOF AND TELEPHONE RECORD The Parties acknowledge that the Payment Orders transmitted in accordance with the above and recorded by the Establishment are deemed to be authorized by the Account Holder and duly authenticated. Proof of this authentication may be provided by the reproduction on a computer medium of the use of the technical means assigned for this purpose by the Site to the Holder.

The Account Holder is informed that telephone conversations with the staff of the Partner and with the staff of the Establishment may be recorded by him or any company mandated for this purpose, in order to provide them with a better quality of Payment Services.

14. AUTOMATIC EXCHANGE OF INFORMATION RELATING TO PAYMENT ACCOUNTS IN TAX MATTERS

In accordance with : Law No. 2014-1098 of September 29, 2014 ratifying the Intergovernmental Agreement between France and the United States of America to improve compliance with international tax obligations and to implement the law relating compliance with tax obligations concerning foreign accounts (known as the “FATCA Law”), Council Directive 2014/107/EU of 9 December 2014 amending Directive 2011/16/EU as regards the automatic and compulsory exchange of information in the field of taxation, the multilateral agreement between competent authorities concerning the automatic exchange of financial account information signed by France on October 29, 2014 and the Common Reporting Standard approved by the OECD Council on July 15, 2014, (hereinafter together «the regulations concerning the automatic exchange of information relating to accounts in tax matters»), the Institution must carry out due diligence to identify the residence for tax purposes of the Holder of the Payment Account and fulfill annual reporting obligations with regard to the French tax authorities concerning the declarable accounts of non-resident persons for tax purposes. taxes in France (including specified American persons, within the meaning of the FATCA law). The French tax administration transmits this information to the tax administration of the country of residence for tax purposes of the holder of the declarable account if the regulations concerning the automatic exchange of information so require.

The Holders concerned undertake to provide the Establishment with all documents and supporting documents relating to their country(ies) of residence for tax purposes.

15. DEATH OF HOLDER – INACTIVE PAYMENT ACCOUNTS

15.1 Death of the Holder The Framework Contract is terminated as soon as the death of the Account Holder is brought to the attention of the Establishment and the Partner.

Transactions occurring after the death of the Account Holder are deemed not to have been authorized, except with the agreement of the Account Holder's heirs. The Payment Account remains open for the time necessary to settle the inheritance and the Establishment will settle the balance with the agreement of the Account Holder's heirs.

15.2 Inactive payment accounts A Payment Account is deemed inactive in the following cases : : If the Payment Account has not been the subject of any Payment Transaction for a period of twelve (12) months during which, excluding entry of interest and debit by the Institution holding the account of fee and commissions of any kind and the Account Holder, his legal representative or the person authorized by him has not come forward, in any form whatsoever, with the Establishment or the Partner; If, within twelve (12) months of the Holder's death, no rightful claimant has informed the Establishment or the Partner of their desire to assert their rights on the Payment Account of the deceased Holder.

When the Establishment finds that the Payment Account is inactive, it informs the Partner so that the latter can contact the Account Holder or his assigns, if necessary, of the consequences of this inactivity. This information will be renewed, if necessary, for two (2) or nine (9) years and a last time six (6) months before the date of closure of the Account, under the conditions provided for by the regulations..

The assets recorded in the inactive Payment Account are deposited with the Caisse des dépôts et consignations at the end of a period of three (3) years in the event of the death of the Holder of the inactive Payment Account, and ten (10) years in other cases, from the date of the last Payment Transaction, excluding debits recorded by the Establishment taking into account fee and commissions of all kinds.

16. PROCUREMENT The Account Holder may give a natural person power of attorney to issue Payment Orders on his/her Payment Account and under his/her full responsibility, under the conditions defined in the power of attorney. The form is provided online on request and must be returned to the Institution either via the Website with the Account holder's electronic signature or by post with his/her handwritten signature. The power of attorney shall only take effect upon receipt by the latter of the duly completed form and subject to acceptance by the Institution. This will be notified by any means. It shall automatically cease on the death of the Account Holder or the authorised representative. It may be revoked at the initiative of the Account Holder, who shall inform the proxy holder and the Institution by registered letter with acknowledgement of receipt or by signing an available online form. The cancellation takes effect on the date of receipt of the cancellation by the Institution. The Account Holder shall remain liable for Payment Transactions initiated on his behalf up to this date by the designated agent.

The Account Holder expressly discharges the Institution from the professional secrecy relating to the data on the Payment Account with regard to the authorised representative designated by the power of attorney.

17. PAYMENT ACCOUNT TRANSFER

Upon request to the Partner via the Site, the Account Holder may obtain the conditions for the transfer of his/her Payment Account in order to obtain the role of the incoming and outgoing institutions in each of the stages of the banking mobility procedure, as provided for iǹ Article L. 312-1-7 of the French Monetary and Financial Code, the timeframes for completing the various stages, the information that the Account Holder may be required to communicate, and the procedures for referring matters to the customer relations department for the purpose of receiving any complaints.

18. RIGHT OF WITHDRAWAL The Holder meeting the definition of article L.341-1 of the Monetary and Financial Code having been approached by Treezor, has a withdrawal period of fourteen (14) completed calendar days to exercise its right of withdrawal, without having to justify its choice. The customer shall not incur any penalties for exercising the right of withdrawal. The period shall run either from the day on which the Framework Contract is concluded or from the day on which the person canvassed receives the contractual conditions and information, if this date is later than the date on which the Framework Contract is concluded. The Cardholder who wishes to exercise his right of withdrawal must send his written request ("Withdrawal Form" appearing in Appendix 3 of the Framework Agreement) by registered letter with acknowledgement of receipt to the address available on the Site or, failing that, to the following address Treezor SAS - 33 avenue de Wagram, 75017 Paris.

Treezor cannot collect funds from the Customer who has been canvassed before the expiration of a forty-eight (48) hour reflection period starting from the day after the delivery of the form establishing the communication of the information relating to the canvassing to the Customer. The Framework Agreement may only be commenced at the express request of the Titleholder.

The exercise of the right of withdrawal shall entail the termination of the Framework Agreement, which in the event of commencement of performance shall take the form of termination of the Framework Agreement and shall not affect the services previously provided.

19. PROFESSIONAL CONFIDENTIALITY The Institution and the Partner are bound by professional secrecy with regard to the Holder, in accordance with the regulations in force.

However, this secrecy may be lifted, in accordance with the regulations in force, by virtue of a legal regulatory and prudential obligation, in particular at the request of the supervisory authorities, the tax or customs authorities, as well as at the request of the criminal court instituted by Article L.562-4 of the Monetary and Financial Code or in the event of a judicial requisition.

Notwithstanding the foregoing, the Licensee may waive the confidentiality obligation of the Institution and the Partner by informing the Institution and the Partner in writing of the third parties entitled to receive confidential information concerning the Licensee. Confidentiality may also be waived in accordance with the regulations for the benefit of companies providing important operational tasks to the Institution under the Framework Agreement.

20. PERSONAL DATA The Partner and the Institution declare that they comply with the applicable regulations on the protection of Personal Data, in particular: Law No. 78-17 of 6 January 1978 on information technology, files and freedoms, as amended; and Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data (the "GDPR").

The Personal Data is collected by the Partner for the sole purpose of performing the payment services under the Framework Agreement.

The Partner acts as a subcontractor within the meaning of Article 4 of the GDPR.

20.1 Processing of Personal Data

20.1.1 The purposes of the processing The Institution, in its capacity as Data Controller, processes the Personal Data of the Data Subjects in the context of the management of the Payment Account(s) and the provision of the payment services covered by the Agreement.

The purpose of the processing carried out by the Institution is to the knowledge of the Customer and the updating of his data, keeping and managing the Payment Account(s), risk management, control and monitoring related to internal control to which the Institution is subject, security and prevention of non-payment and fraud, collection, litigation, the institution's compliance with its legal and regulatory obligations, in particular the identification of inactive accounts, the fight against money laundering and the financing of terrorism, and the automatic exchange of information relating to accounts in tax matters, segmentation for regulatory purposes, carrying out statistical studies and improving the reliability of data, Identification and authentication data related to use

20.1.2 Legal basis for processing The Establishment justifies the lawfulness of the data processing, pursuant to Article 6 (c) of Regulation 2016/679 of 27 April 2016. By virtue of its status as an Electronic Money Institution, Treezor must carry out the processing operations set out below in order to meet its legal obligations. keeping and managing the Payment Account(s), The Personal Data collected by the Partner on behalf of and for the account of the Institution in the context of the provision of payment services may be the following: Data identifying the natural person (surname, first name, date of birth, identity card and passport number, postal address and e-mail address, telephone number, tax number and residence, legal status) Data related to the employment status of the Data Subject (Employment contract, pay slip, etc....) Data related to the asset situation Data related to operations and transactions that the Data Subject carries out using the Service (payments, transfers) Bank details (IBAN, card number, balance) Identification and authentication data related to use Identification data or digital authentication linked to use (connection and usage logs, IP address, etc.)

Mandatory nature of the collection of Personal Data

The processing by the Institution of the Personal Data provided for in Article 20.1 is mandatory. Refusal by the Data Subjects to communicate all or part of their Personal Data may result in the rejection of the request to open a Payment Account by the Institution.

20.3 Disclosure of Personal Data to third parties The Account Holder authorises the Institution, by accepting the present document, to communicate, under the conditions described below relating to professional secrecy, the personal Data concerning them, within the framework of the provision of payment services and the management of the Account(s), to : third parties for the purpose of complying with a legal or regulatory obligation or responding to a request from the supervisory authority, in particular the Autorité de contrôle prudentiel et de résolution, the Commission nationale informatique et liberté, judicial bodies, the tax authorities, TRACFIN, etc. external companies for the execution of services that it subcontracts: payment service agents, card managers and manufacturers, mobile payment managers, members of the SEPA banking network (transfer and direct debit managers), trusted third parties, cheque managers.

20.4 Hosting of Personal Data The processing and hosting of Personal Data is carried out in the European Union.

20.5 Retention period of Personal Data Personal Data is kept in order to comply with legal and regulatory obligations and for security purposes for a period of five (5) years from the date of closure of the Account for information collected for anti-money laundering and anti-terrorist financing purposes.

20.6 Exercising rights relating to Personal Data The rights of the persons concerned

Subject to the restrictions set out in the banking and personal data protection legislation, Data Subjects have the right to access, rectify, restrict, object to, delete and port their Personal Data.

To exercise any of these rights, Data Subjects should send their request to the following address TREEZOR SAS 33 avenue de Wagram 75017 Paris or by e-mail to the following address: dpo@treezor.com.

A maximum period of one (1) month may be necessary between the receipt of the request and the response of the Establishment.

Contact details of the DPO (Data Protection Officer)

The Establishment has appointed a Personal Data Protection Officer (DPO) in accordance with Article 37 of EU Regulation 2016/679 of 27 April 2016. Data Subjects may contact the Institution's DPO for any request relating to their Personal Data at the following address: dpo@treezor.com 33 avenue de Wagram 75017 Paris

21. COMBATING MONEY LAUNDERING AND TERRORIST FINANCING Pursuant to the provisions of Articles L.561-2 et seq. of the Monetary and Financial Code, relating to the participation of financial institutions in the fight against money laundering and terrorist financing, the Institution is required to obtain information from the Account Holder for any transaction or business relationship initiated under the conditions of Articles L 561-2 et seq. of the Monetary and Financial Code, in particular, the origin, purpose and destination of the Payment Transaction or the opening of the Payment Account. He/she must also take all the necessary steps to identify the Account Holder and, where applicable, the beneficial owner. The Account Holder undertakes to take all necessary steps to enable the Institution to carry out a thorough examination of the Payment Transaction, to inform the Institution of any exceptional transaction compared to the Payment Transactions usually recorded on his Payment Account and to provide it with any document or information required.

He acknowledges that the Institution may have to set up monitoring systems for the purpose of combating money laundering and the financing of terrorist activities.

The Account Holder acknowledges that the Bank may terminate or postpone the opening of the Payment Account or the execution of a Payment Transaction at any time if there is insufficient information about its purpose or nature. The Account Holder is informed that a Payment Transaction carried out within the framework of the present Agreement may be subject to the right of communication of the national financial intelligence unit.

The Account Holder may, in accordance with the regulations, access all the information thus communicated, provided that this right of access does not jeopardize the purpose of combating money laundering and the financing of terrorism when this Personal Data relates to the Account Holder and is held within the framework of Articles L621-8, L621-9 and L621-10 of the Monetary and Financial Code.

No prosecution based on Articles 226-13 and 226-14 of the French Penal Code and no civil liability action may be brought or professional sanction pronounced against the Institution, its managers or employees or any other person referred to in Article L.562-1 of the French Monetary and Financial Code who have made the declarations mentioned in Articles L.561-22 of the same Code in good faith.

22. COMPLAINTS In case of difficulties concerning the Services provided by Treezor and the Partner, the Holder can, according to his choice, contact the Customer Complaints Service of the Partner in order to obtain all the desired information, or formulate to Treezor any complaint communicated in writing to the Customer Complaints Service of Treezor.

Partner's Customer Complaints Department:

The customer service is managed internally and accessible via this email address.

contact@studely.com

and can be reached on this phone number: 00331 80 88 90 77

to acknowledge receipt of any claim made by the Registrant within ten (10) Business Days of its receipt; to respond to the Registrant within fifteen (15) Business Days of receipt of the complaint; notwithstanding the foregoing provisions : if it reasonably believes that it will not be able to provide a response to the Registrant within fifteen (15) Business Days, it shall send a holding response to the Registrant clearly stating the additional time required to respond to the Registrant's claim and specifying the maximum date by which the Registrant will receive a response to the claim notified to the Partner, which shall in any event not exceed thirty-five (35) Business Days from the date of receipt of the claim by the Partner if the Partner reasonably believes that it cannot process the claim without the assistance of Treezor, it undertakes to forward the claim to Treezor within one (1) Business Day of its receipt. Treezor Customer Complaints Department :

Or by mail to the following address: 33 avenue de Wagram, 75017 Paris, Or by e-mail to the following address : reclamations@treezor.com. In addition, the Customer Complaints Service of Treezor can be reached by phone at the following number: +33 (0)1.84.19.29.81 (service open from Monday to Friday (except holidays) from 9:00 am to 1:00 pm and from 2:00 pm to 6:00 pm).

In this context, Treezor is committed to : to acknowledge receipt of any claim made by the Registrant within ten (10) Business Days of its receipt ; to answer the Customer within fifteen (15) working days following the reception of his complaint. However, if an additional time is necessary to answer the claim, Treezor will send a waiting answer explaining this delay. It will keep the Customer informed of the progress of the processing of his complaint. In any case, the Customer will receive a definitive answer at the latest thirty-five (35) working days following the reception of his complaint by Treezor

23. MEDIATION In the event of the persistence of a dispute with the Institution relating to the services provided or to the execution of the Framework Agreement and after exhaustion of internal remedies, the Holder has the right to refer the matter free of charge to the AFEPAME Mediator by sending a letter within one (1) year from the date of the complaint to the AFEPAME Mediator, Association Afepame, 36 rue Taitbout 75009 Paris.

The Mediator cannot be contacted if legal proceedings are in progress.

Referral to the Mediator suspends the statute of limitations in accordance with the conditions of Article 2238 of the Civil Code. The findings and statements made by the Mediator may not be produced or invoked in any other procedure, other than mediation, without the agreement of the Institution and the Cardholder. This mediation procedure is free of charge.

24. MAJOR FORCE The Parties shall not be liable, or deemed to have defaulted hereunder, for any delay or failure to perform, where the cause of the delay or failure to perform is related to an event of Force Majeure within the meaning of Article 1218 of the Civil Code.

25. COMMUNICATION The language used during the pre-contractual and contractual relations is French. The Cardholder expressly accepts the use of the French language during the contractual relationship

At any time during the contractual relationship, the Cardholder is entitled to receive, upon request, the Payment Services Framework Agreement and the General Terms and Conditions of Use of the Card on paper or on another durable medium. The request must be made to the Partner or the Institution. These are also available on the Partner's Website.

The Holder authorizes the Partner and the Institution to send him/her an email on his/her customer area of the Website or the Mobile Application of the information relating to the execution of the Framework Agreement and the products or/and services subscribed to.

Any notification for the purposes of this Framework Agreement shall be made (and shall be deemed to have been received on the date of receipt) by registered mail with return receipt requested or delivered by hand to the following address Treezor SAS Service juridique 33 avenue de Wagram 75017 Paris and by email: reclamations@treezor.com

or by the intermediary of the Customer Service of the Site whose coordinates are indicated in the legal mentions.

26. PROTECTION OF FUNDS The Account Holder is informed that the funds credited to the Account are protected in accordance with Article L.522-17. I of the Monetary and Financial Code and are registered in a segregated account opened under the conditions required by the regulations. They are thus protected against any recourse by other creditors of the Institution, including in the event of enforcement proceedings or insolvency proceedings initiated against the Institution.

27. CESSIBILITY This Agreement may not be assigned in whole or in part by the Licensee, whether for valuable consideration or free of charge. In the event of a breach of this prohibition, in addition to the immediate termination of this Agreement, the Licensee may be held liable.

28. APPLICABLE LAW AND JURISDICTION The Master Agreement is subject to French law.

In the absence of an amicable agreement, all disputes relating to the formation, validity, interpretation, performance or breach of the Framework Agreement shall fall under the exclusive jurisdiction of the French courts. Signature GENERAL CONDITIONS OF USE OF THE CARD CONCLUDED BETWEEN : TREEZOR, a simplified joint stock company, registered in the Paris Trade and Companies Register under number 807 465 059 R.C.S. Paris, whose registered office is located at 33 avenue de Wagram, 75017 Paris, acting as an electronic money institution within the meaning of article L.525.1 of the French Monetary and Financial Code, and approved by the Autorité de Contrôle Prudentiel et de Résolution (French Supervisory Authority), Banque de France, 4 Place de Budapest, CS 92459, 75017 Paris, cedex 09, France (www.regafi.fr), under the number 16798 (hereinafter referred to as « Treezor ») on the one hand, and ; The HOLDER, a natural person of legal age and capacity, acting on his or her own behalf for non-professional purposes, having entered into a Framework Agreement for Payment Services with Treezor and carrying the Card. (hereinafter referred to as the « Holder »), on the other hand ; Together referred to as the « Parts ».

The provisions of the Master Agreement for Payment Services shall apply to the General Terms and Conditions for the Use of the Card (GTC). In addition, capitalized terms have the meaning given to them in the Master Agreement.

1. PURPOSE OF THE TERMS AND CONDITIONS The purpose of these Terms and Conditions is to define the terms and conditions for the subscription and use of the Card by the Cardholder. The Card is a "B2C" debit MasterCard

2. DEFINITIONS In these TOU, unless the context otherwise requires, capitalized terms shall have the meaning set forth below:

In the absence of a definition, capitalized terms shall have the meaning given to them in the Master Payment Services Agreement.

3. PAYMENT AND CARD ACCOUNTS The Cardholder has previously entered into a Framework Agreement for Payment Services and holds a Payment Account in the books of the Issuer. It is specified that the Cardholder may only have one Card. The Account Holder shall fund the Payment Account and the Card Account(s) at the latest before the authorization by Treezor of the Card Payment Order. The Account Holder shall fund the Payment Account and the Card Account(s) in accordance with the provisions of the Framework Agreement and the present document.

4.RATES Treezor provides the Card to the Holder in the Rates Conditions within the limits of the applicable regulations. The fee are deducted from the Holder's Payment Account in accordance with the Framework Agreement.

5. CARD ISSUANCE AND ACTIVATION The Card is delivered by Treezor and remains the property of Treezor, at the request of the Cardholder, at the address indicated by him/her. The Cardholder must connect to the Website in order to activate his Card according to the indications that are communicated to him and must sign the present GCU. The activation of the Card is conditional upon the Cardholder signing these GTC. In addition, the Cardholder must have personalized security details in accordance with Article 8 hereof in order to use the Card. The Card will be fully activated upon the first ATM withdrawal using the personalized security data.

6. CONDITIONS OF USE The Card is intended for non-business purposes and allows payment transactions to be made for non-business purposes. The Cardholder undertakes to use the Card or its number exclusively within the framework of the Payment Card Network whose brand is affixed to the Card and to comply with the rules relating to each of the brands affixed to the Card.

The Card is strictly personal, and the Cardholder must sign it immediately upon receipt if there is a space provided for this purpose on the Card. The Cardholder is strictly prohibited from lending the Card or disposing of it. Where a signature panel is displayed on the Card, the absence of a signature on the Card justifies its refusal to be accepted.

The Cardholder shall not affix any adhesive labels or stickers or make any inscription on the Card except for the signature referred to above. The Cardholder shall not make any functional or physical alteration to the Card that could hinder its operation or that of electronic payment terminals and automatic teller machines (the Electronic Equipment), or automatic teller machines (the ATMs).

7. PURPOSE OF THE CARD The Card allows the Cardholder to: Make cash withdrawals at ATMs of authorized payment service providers displaying one of the Payment Card Network brands affixed to the Card, Pay for goods or services at merchants and service providers equipped with a Point of Acceptance displaying one of the Payment Card Network's brands affixed to the Card (the Acceptors), To pay remotely, through the possible use of the chip, for purchases of goods or services to the Acceptors.

8. PERSONAL SECURITY DATA Personalized security data are defined by Treezor and allow the Holder to use the Card. They are composed of a personal code which is communicated to him by separate mail sent to his home by Treezor, personally and only to him. The Cardholder can be invited to choose his code, when activating the Card. In any case, the Cardholder must take all measures to ensure the security of his Card, of the confidential code and more generally of any other element constituting the personalized security data of the Card. The Cardholder must therefore keep the PIN absolutely secret and not disclose it to anyone. As an exception, the Cardholder may communicate it to third party payment service providers authorised in a Member State of the European Union or in a State party to the European Economic Area, for account information and payment transaction initiation services, within the meaning of Article 4 of the European Directive 2015/2366. The Cardholder must ensure that this payment service provider is indeed approved for these services and that it enters its personalized security data in a secure environment.

In particular, he/she must not write it on the Card or any other document. The Cardholder must ensure that it is composed in a manner that is not visible to third parties. The Cardholder must use the personalized security data whenever instructed to do so by the Point of Acceptance. This code is essential when using Electronic Equipment and any remote payment terminal (such as a secure reader connected to a computer, TV set-top box, cell phone with Card insertion, etc.) designed so that no transaction can be carried out without using this confidential code. The number of successive attempts to enter the PIN is limited to 3 (three) on the Electronic Equipment. On the third unsuccessful attempt, the Cardholder causes the Card to be invalidated and/or, where applicable, captured. When the Cardholder carries out a Card Payment Transaction at a Remote Point of Acceptance and enters the PIN, the Cardholder must ensure that this terminal is approved by the Network by checking for the presence of the MasterCard brand and use it exclusively for the purposes set out in article 1 of the GTC of the Card. The Cardholder must take all appropriate measures to ensure the security of the personalized security data which, in addition to the PIN, may be a remote payment terminal in his/her custody.

9. OTHER PERSONAL SECURITY DATA In order to ensure the security of the Card Payment Orders given remotely (e.g. on the Internet) by the Cardholder, the latter may be asked to communicate, in addition to the usual data related to the remote use of the Card (number, validity date and visual cryptogram appearing on the back of the Card), any other data (e.g. a password or a code which is then different from the one referred to in article 8 allowing a strong Authentication of the Payment Order, which may be communicated by Treezor, if necessary. The personalized security data related to the remote use accepted by Treezor are available on the Site. The Customer acknowledges having been informed by Treezor that, for any secure Card payment Order given remotely from abroad, the sending by Treezor of the security data mentioned above may lead to the payment by the Customer of additional fee to any carrier of the said data, in particular to his cell phone operator. These fee, the amount of which will be brought to the attention of the Customer before the initiation of the payment transaction by Card, will remain at the expense of the Customer who already accepts them.

10. FORM OF CONSENT AND IRREVOCABILITY The Cardholder and Treezor agree that the Cardholder gives his consent to carry out a Card Payment Transaction before or after the amount is determined: by typing his or her PIN on the keyboard of an Electronic Equipment, verifying the presence of one of the payment card network marks affixed to the Card, by providing and/or confirming personalized security information related to the remote use of the Card, by confirmation of the payment order data communicated via an approved interbank digital wallet. The Cardholder and Treezor agree that the Cardholder can use the Card for a series of Card Payment Transactions, hereinafter referred to as "recurring and/or instalment payments", with the Acceptors for purchases of goods and/or services. The Cardholder gives his consent to the series of Card Payment Transactions by communicating and/or confirming the data related to the remote use of the Card at the time of the first transaction, if necessary via an approved interbank digital wallet. The Cardholder may withdraw his consent to the execution of a Transaction or series of Transactions at the latest by the end of the Business Day preceding the day agreed for its execution. The Card Payment Transaction is authorized if the Cardholder has given his consent in one of the forms defined above. From that moment, the Payment Order is irrevocable. However, the Cardholder may stop the payment in the event of the Receiver's receivership or liquidation proceedings. L’Opération de paiement par Carte est autorisée si le Titulaire a donné son consentement sous l’une des formes définies ci-dessus. Dès ce moment, l’Ordre de paiement est irrévocable. Toutefois, le Titulaire peut faire opposition au paiement en cas de procédure de redressement ou de liquidation judiciaires de l'Accepteur. 11. HOW TO USE THE CARD FOR CASH WITHDRAWALS AT ATMS DISPLAYING ONE OF THE MARKS ON THE CARD Cash withdrawals at ATMs are possible within the limits of the availability of the ATM. The amounts recorded for these withdrawals, as well as any commissions, are immediately debited from the Cardholder's Card Account without any obligation to indicate the number or name of the Cardholder of the Card used, and result in the debiting of the Payment Account.

The Cardholder must, prior to each withdrawal and under his/her responsibility, ensure that there is a sufficient and available balance on the Payment Account to which the Card is associated. The Cardholder undertakes to maintain this balance until the corresponding debit is made.

Foreign exchange terms when using the Card for a cash withdrawal in a foreign currency are governed by Section 13 hereof.

12. TERMS AND CONDITIONS FOR USING THE CARD TO PAY FOR GOODS AND SERVICES The Card is a payment instrument that may only be used to pay for goods actually purchased and services actually rendered. Payments by Card are made according to the conditions and procedures in force at the Acceptors. In principle, they include checking the PIN and, under certain conditions defined by the Payment Card Networks, a request for authorization. When the Acceptor is in a country of the European Economic Area (the Member States of the European Union, Iceland, Norway and Liechtenstein), it may install a priority selection mechanism on the Electronic Equipment. If the Cardholder does not agree with this choice, he/she may request the Acceptor to use another brand or another payment application that is displayed as "accepted" by the Acceptor.

For Card Payment Orders given remotely, the Cardholder may be required to comply with a security procedure for said Payment Orders as referred to in Article 9 above.

Payments presented for collection by the Acceptor imply a debit to the Card Account, which debits the Payment Account on which the Card operates according to the terms and conditions set forth in the special conditions of these GTC and the Master Agreement. The Card Account on which the Card operates is immediately debited with the amount of the Payment Transactions made with the said Card, including in case of death or legal incapacity of the Cardholder, incidents of functioning of the said Account (execution procedure), closure of the Payment Account or withdrawal of the Card by Treezor. The disputes concerning these Operations are treated under the conditions provided for in Article 19.

The Cardholder must ensure that on the day the payments are debited, the Card Account on which the Card operates, or the Payment Account to which it is linked, has a sufficient and available balance to be transferred to the Acceptor.

The detailed amount of the sums debited to the aforementioned Card Account shall appear, with some exceptions, on a statement of Transactions sent after each Transaction via the Partner and shall result in the debiting of the associated Payment Account.

Treezor is not involved in any commercial dispute, i.e. other than the payment order, which may arise between the Cardholder and an Acceptor. The existence of such a dispute can in no way justify the refusal of the Cardholder to honor the payments by Card.

A Card Payment Transaction may only be refunded by an Acceptor if there has previously been a debit Transaction for an equal or greater amount. This refund must be made with the same Card as the one used for the initial transaction.

A Payment Transaction may be made by the Holder in order to obtain "quasi-cash" (casino chips, purchase of currency...) in places authorized for this purpose.

In some cases, the Merchant may request that the Cardholder have a balance available that is greater than the value of the Payment Transaction he/she wishes to make. Only the actual and final value of the Payment Transaction will actually be charged to the Card Account and, if applicable, the Payment Account. Acceptors take guarantees and must block funds that will not necessarily be debited from the Card. This may include, for example: hotels, car rental companies, and Internet sites - some Acceptor sites request authorization on the Card to ensure that funds are available. This authorization has a temporary impact on the available balance on the Card Account and, if applicable, on the Payment Account. Many merchants only debit the Card when goods are shipped, so the Cardholder must ensure that he/she has sufficient funds to cover these purchases at all times.

The Card shall not be used in situations where it is not possible to obtain an online authorization request that would reveal the available balance on the Card.

The Card may be used by the Cardmember at self-service fuel pumps in France, provided the available balance in the Card Account and, if applicable, the Payment Account is greater than the amount of collateral needed to authorize the purchase. The Card may be used to pay at the cash register.

Foreign currency exchange when the Card is used to pay for goods and services in foreign currency is governed by Section 13 hereof.

13. FOREIGN EXCHANGE AND CURRENCY TRANSACTIONS The Cardholder may make withdrawals or payment transactions with the Card in foreign currency. The Card is recognized by the Network as a domestic card in local currency, provided that sufficient funds are available on the corresponding Card Account denominated in said currency.

In the event of insufficient funds in the Card Account, if the amount of the Card Payment Transaction is available in the Payment Account, the Transaction will be processed as an International Card Payment Transaction, under the conditions described below.

When the Cardholder uses his or her Card to withdraw cash or pay for goods or services in a currency not offered by the Institution or when the corresponding Card Account does not have sufficient funds at the time the Payment Order is sent, the Payment Transaction is executed according to the conditions below using the funds available in euros on the Payment Account. The exchange rate that may be applicable is the one in effect on the date the Payment Transaction is processed by the Payment Card Network concerned. The currency conversion is carried out by the Payment Card Network center concerned on the day the Payment Transaction is processed at that center and at the exchange rate conditions of the said Payment Card Network.

The Card Payment Transaction Statement includes the following information: amount of the Payment Transaction in original currency, amount of the Payment Transaction converted into euro, amount of commissions, exchange rate applied. The Payment Account statement shows the balance of the Payment Account.

14. RECEIPT AND EXECUTION OF THE PAYMENT ORDER By agreement, the Partner informs the Holder that the Card Payment Order is received by Treezor when it is communicated to it by the Acceptor's bank or by the ATM manager through the clearing or settlement system of the said payment order. When the Payment Order by Card is executed within the European Economic Area Treezor has, from the moment of receipt, a period of one (1) Business Day to credit the bank account of the 'Acceptor. With regard to withdrawals, the Partner informs the Account Holder that the withdrawal order is executed immediately by making cash available.

15. TREEZOR'S RESPONSIBILITY When the Cardholder denies having given his consent to carry out a Card Payment Transaction, it is up to Treezor to bring the proof that the Transaction was authenticated, duly recorded and accounted for in accordance with the state of the art (in the state of existing scientific and technical knowledge), and that it was not affected by a technical deficiency. This proof of the use of the Card and the personalised security data can be provided by any means, in particular by the recordings of the Points of Acceptance or their reproduction on a computer support. Treezor can use these recordings as a justification for their charge to the Card Account on which the Card operates. Treezor is responsible for direct losses incurred by the Customer due to a technical deficiency of the Network over which Treezor has direct control. However, Treezor is not responsible for a loss due to a technical deficiency of the Network if it is signalled to the Customer by a message on the Acceptance Point or in another visible way.

16. RESPONSIBILITY OF THE PARTIES The Cardholder must take all measures to preserve the Card and the personalised security data attached to it, in particular the PIN. The Cardholder must use the Card in accordance with the purposes specified in Article 1. The Cardholder shall bear the consequences of the use of the Card until a request to stop the use of the Card has been made in accordance with the conditions set out in the Framework Agreement.

The unauthorised Card Payment Transactions due to the counterfeiting of the Card or the unauthorised use of the data linked to its use are the responsibility of Treezor, except in the cases provided for by Article 20 "Guarantee" or in case of fraud by the Cardholder.

17. DURATION AND CANCELLATION The GCU are concluded for an indefinite period. They may be terminated at any time by registered mail with acknowledgement of receipt by the User or by Treezor. The termination by the User takes effect thirty (30) days after the date of sending of the notification to Treezor. The cancellation by Treezor takes effect two months after the date of sending its notification to the Account Holder. In case of closure of the Holder's Payment Account, the GCU will be automatically terminated without notice. The Cardholder undertakes to return the Card on the effective date of termination. The Cardholder undertakes to comply with all contractual obligations under the GTC until the aforementioned date. As from the effective date of the cancellation, the Cardholder is no longer entitled to use the Card and Treezor can take all necessary measures to do so.

18. DURATION OF VALIDITY OF THE CARD – RENEWAL – WITHDRAWAL AND RETURN OF THE CARD

The Card has a period of validity, the expiry date of which is written on the Card itself. The limited period of validity of the Card responds in particular to technical and security requirements, and has no consequence on the indefinite duration of the T&Cs. On the expiry date, it is subject to automatic renewal of the support unless the T&Cs have been terminated under the conditions provided for herein. In addition to the cases of blocking resulting from the management of the Payment Account and the Card Accounts on which the Card operates, Treezor may block the Card for security reasons or presumption of unauthorized or fraudulent Operation, or in the event of risk materially increased or proven that the Account Holder is unable to fulfill its payment obligation. In these cases, Treezor may withdraw or have the Card withdrawn by an Acceptor or by an establishment duly authorized to provide payment services. The closure of the Payment Account on which a Card operates entails the closure of the associated Card Accounts and the obligation to return the Card. The Payment Account can only be finalized one (1) month after the return of the Card(s) at the earliest.

19. CONTESTATION OF TRANSACTIONS Disputing Card payment transactions is governed by Article 9 of the Framework Agreement.

20. GUARANTEE Treezor undertakes at any time to exchange the Card declared defective. The defective product must be returned to Treezor as it is by registered mail with acknowledgment of receipt (these shipping costs will be reimbursed to the Holder from its reserve funds if the product is found to be defective after verification by its departments). The Card wrongly declared defective will be returned to the Holder, resulting in the Holder being responsible for management fee which will be deducted from their reserve funds. In any case, the Holder benefits from the legal guarantees of conformity and hidden defects, in accordance with articles L. 211-4 and following of the Consumer Code on the one hand, and article 1641 of the Civil Code, d 'somewhere else. The warranty does not cover: Abnormal or non-compliant use of the Card in relation to its intended purpose and the user documentation and this Agreement; Defects and their consequences related to non-compliant use; Defects and their consequences related to any external cause; Negligence in storing the Card (prolonged exposure to the sun, exposure to water or high humidity, repeated contact with metal objects such as keys, etc.).

21. PENALTIES Any false declaration is liable to the penalties provided for by law. Any misrepresentation or misuse of the Card may also lead to the termination of this contract. All actual costs and expenses incurred for the forced recovery of the Transactions are the responsibility of the Account Holder. The amount of Card Payment Transactions that could not be debited from the Card Account and, where applicable, from the Payment Payment Account on which the Card operates will be increased by interest at the legal rate from the date of value and without prior notice.