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1 F. European Union. The Customer acknowledges that it is not a "consumer" for the purpose of the European Union's Electronic Commerce Directive ( "ECD ") (i.e. that it is not an individual) and agrees that the Bank shall not be required to make any disclosures or do any other thing which a non - consumer may agree not to require under the UK rules and legislation implementing the ECD. For further information on the Bank, please see "Notice regarding EU e- commerce information" in the Terms 8 Conditions on http: //www.jpmorgan.com. (i) The Bank will collect information about the Customer and the Customers employees and agents (such as, without limitation, authorized signatory details) which may constitute personal data for the purposes of the Data Protection Act 1998 (the "Act ") and other relevant data protection legislation. Such personal data may be collected by or on behalf of the Bank in a number of ways (the "Collection Methods "), including via documentation relating to the provision to or use by the Customer of electronic banking services, or via the Customers use of such electronic banking services, and via other correspondence or communications between the Customer and the Bank. (11) The Bank will use personal data collected by it or on its behalf via the Collection Methods for the following purposes (the Purposes"), namely for the purpose of providing the services to the Customer in accordance with these Terns and the Product Terms, for the Bank's internal administrative purposes, for contacting the Customer about products and services which the Bank or other members of the Bank's group offer which the Bank believes may be of interest to the Customer, and as may be otherwise required by law or applicable regulatory or governmental authorities, and such purposes may include transfer of such personal data outside of the European Economic Area to the Bank's subsidiaries or other connected companies or to other organizations as may be required by law or other applicable regulatory or governmental authorities. (di) The Customer shall ensure that any disclosure of personal data made by it or by its employees or agents via the Collection Methods which relate to the Customers employees or agents is only made following notification by the Customer to data subjects of the Purposes for which their personal data may be processed by or on behalf of the Bank, and is otherwise fair and lawful. L. Foreign Exchange Payment Foreign Exchange (FX) transactions are payments and receipts where the currency of the transaction is different from the currency of the underlying account. The funds transfer may consist of more than one transaction in order to move funds from an originator's account to a beneficiary's account. The FX Payment Service enables the Customer to purchase or sell foreign currency as more fully described in Section 1 hereof as principal or agent ( "Trader Contracts ") and to include related settlement instructions by means of an electronic communication system or a Bank access system (each an "FX Payment System "). "Transaction Date" shall mean the date on which each Trader Contract is entered into by the Customer and the Bank, and "Value Date" shall mean the date specified in each Trader Contract for the delivery of the currency. 1. Trading Currencies. Trader Contracts will be limited to the sale or purchase of the lawful currency of such countries as the Bank shall determine and advise the Customer from time to time (an "Eligible Trading Currency ") in exchange for another Eligible Trading Currency. 2. Entering into a Trader Contract. (a) Data Input. The Customer shall enter into each Trader Contract with the Bank by following the procedures set forth in the Service Material and by otherwise following the instructions provided through the FX Payment System when using the Service. "Service Material" shall mean any administrative rules, clearing house rules, payment system rules, service terns or service guides, software licenses or implementation forms which may contain operating procedures, security procedures, specifications or other requirements applicable to the Service. (b) Foreign Exchange Rate. The Bank, in its sole and absolute discretion, will determine the foreign exchange rate and spread (which together shall constitute the "FX Rate ") applied by the Bank to transactions executed using the Services. FX Rates are determined by the Bank based on various factors, including but not limited to market information and information concerning the Customer and the proposed Trader Contract. The FX Rate may differ from rates at which comparable transactions are entered into with other customers or the range of FX Rates at which the Bank otherwise enters into foreign exchange transactions on the relevant date. (c) Offer by the Customer. 1. For Services where the Customer is provided with the FX Rate prior to transaction execution, the Bank and the Customer agree that the information displayed through the FX Payment System relating to the FX Rate shall be deemed an invitation by the Bank to the Customer to submit an offer to the Bank to enter into a Trader Contract at such FX Rate. If the Customer wishes to make such an offer to the Bank, the Customer will enter the required information prior to the expiration time set by the Bank for the quoted FX Rate. 2. For Services where the Customer is not provided with the FX Rate prior to transaction execution, the Bank and the Customer agree that when the Customer electronically submits transaction instructions as specified in the Account Documentation the Customer will be deemed to have made an irrevocable offer to the Bank to enter into a Trader Contract at such FX Rate as is applied to the Trader Contract by the Bank. (d) Confirmation. The Bank may, but shall not be required to, accept any offer of the Customer solely by providing transaction information showing the transaction number (a "Confirmation") to the Customer through the FX Payment System. At the moment the Bank provides the Confirmation (as evidenced by its records), the Bank and the Customer will have entered into the Trader Contract. The Confirmation PN: 1125418 DOC ID: 6 Page 49 of 51