Master Services Agreement

This Master Services Agreement (this “Agreement”) is between Plaid Technologies, Inc. (“Plaid”) and the company named on the sign up page (the “Client”). This Agreement is effective as of the date the Client agreed to this Agreement and clicked through the “Sign up” button on the sign up page (the “Effective Date”).

You, as the individual named on the sign up page, represent and warrant that: (i) you have full legal authority to bind the Client to this Agreement; (ii) you have read and understand this Agreement; and (iii) you agree, on behalf of the Client, to this Agreement. If you don’t have the legal authority to bind the Client, please do not agree to this Agreement by checking the applicable box or click the “Sign up” button on the sign up page.

Plaid and Client hereby agree as follows:

1. ACCESS RIGHTS; RESTRICTIONS

1.1 Access.

Subject to the Client’s compliance with the terms and conditions of this Agreement, Plaid hereby agrees that during the Term (as defined below) of this Agreement, the Client has the non-exclusive right to: (i) internally use the package of application programming interface materials provided by Plaid (the “API Package”) solely as necessary to make an application owned and operated by the Client (the “Client Application”) interoperate with the Plaid service described on https://plaid.com (collectively with the API Package, the “Service”), (ii) use the Service in the Client Application provided to end users (consumers or businesses) (the “End Users”), and (iii) use the End User information and data provided via the Service (the “Output”) solely in the Client Application or for your internal business purposes. All use of the Service and Output must be only as provided herein and only in accordance with Plaid’s applicable user documentation (and all other Plaid-provided written instructions).

1.2 Restrictions.

Unless Plaid specifically agrees in writing, Client will not, and will use commercially reasonable efforts to make sure a third party does not: (i) attempt to reverse engineer (except as permitted by law), decompile, disassemble, or otherwise attempt to discover the source code, object code, or underlying structure, ideas, or algorithms of the Service; (ii) modify, translate, or create derivative works based on the Service; (iii) make the Service or Output available to, or use the Service or Output for the benefit of anyone other than Client or End Users; (iv) sell, resell, license, sublicense, distribute, rent or lease any Service or Output to any third party, or include any Service or Output in a service bureau, time-sharing, or equivalent offering or (v) attempt to create a substitute or similar service through use of, or access to, the Services or Output. Client will use the Service and Output only in compliance with (i) the rights granted hereunder, (ii) any agreements between Client and End Users, and (iii) all applicable laws and regulations.

1.3 Ownership.

Except for the rights expressly granted under this Section 1, Plaid reserves and retains all right, title, and interest in and to the Service which includes but is not limited to the API Package and any related Output, software, products, works, and other intellectual property created, used, or provided by Plaid for the purposes of this Agreement. To the extent the Client provides Plaid with any feedback relating to the Service (including, without limitation, feedback related to usability, performance, interactivity, bug reports and test results) (“Feedback”), Plaid will own all right, title and interest in and to such Feedback (and the Client hereby makes all assignments necessary to achieve such ownership).

1.4 Privacy and Authorizations.

Before any End User engages with the Client Application in a manner that uses the Service, the Client will ensure that each End User is put on notice of, and agrees to, Plaid’s privacy policy as expressed below. The Client must (A) maintain a clear and conspicuous link in its privacy policy to Plaid’s privacy policy located at https://plaid.com/legal with a clear and conspicuous statement that each End User acknowledges and agrees that End User data and information will be treated in accordance with such policy, and (B) include a statement in the Client’s privacy policy that grants Plaid the same rights, power, and authority as specified in Plaid’s privacy policy. The following language will be deemed to comply with the preceding sentence: Client uses Plaid Technologies, Inc. (“Plaid”) to gather End User’s data from financial institutions. By using our service, you grant Client and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy. [Plaid Privacy Policy must link to https://plaid.com/legal.] The Client may use alternative language in its privacy policy that also complies with this Section 1.4, but Plaid must approve (in writing) any material modifications. All of the foregoing must be done in a form and manner that is acceptable to Plaid.

2. PAYMENTS

Client will pay for the Service as agreed by the Client and Apex Clearing Corporation, except for any Service that the Client and Plaid agree will be paid by Client to Plaid directly. The remainder of this paragraph will apply only to any direct payments from Client to Plaid for Service. Client will pay Plaid for the Service as set forth in the applicable pricing schedule, order form, or similar document provided to the Client (the “Payments”). Payments must be made within fifteen (15) days from the date of Plaid’s invoice. Unpaid invoices are subject to a finance charge of 1.5% per month or the maximum permitted by law, whichever is lower, plus all expenses of collection. The Client will be responsible for all (i) taxes associated with Service other than taxes based on Plaid’s net income and (ii) Plaid’s costs of collection in the event of the Client’s delinquent payment. All Payments made are non-refundable, non-cancellable, and not subject to set-off.

3. TERM; TERMINATION

Term. This Agreement will have a term of twelve (12) months (the “Initial Term”) beginning on the Effective Date. After the Initial Term, this Agreement will automatically renew for one (1) year periods (each a “Renewal Term”) unless either party provides the other party with sixty (60) days written notice prior to the end of the Initial Term or the Renewal Term. Together, the Initial Term and Renewal Terms will be referred to as the “Term.” Plaid may revise its rates for the following Renewal Term by providing Client sixty (60) days written notice prior to the end of the then-current Initial Term or Renewal Term. Termination. Either party may terminate this Agreement in the event the other party materially breaches this Agreement and fails to cure such breach within ten (10) days from receipt of written notice thereof. In addition, Plaid may immediately suspend the Services in the event it determines or believes that (i) there is unauthorized access to the Service via Client’s account, (ii) continued provision of the Service may do material harm to Plaid or its networks or systems or reputation or subject Plaid to liability or (iii) Client materially breached Section 1 or 2 of this Agreement. Upon termination of this Agreement, all rights granted herein to Client will terminate and Client will make no further use of the Services or API Package (copies of which will be immediately returned to Plaid or destroyed). But for Section 1.1, all provisions of this Agreement will remain in force in the event of this Agreement’s termination.

4. CONFIDENTIALITY

During the term of this Agreement, each party (a “Disclosing Party”) may provide the other party (a “Receiving Party”) with confidential and/or proprietary materials and information (“Confidential Information”). All materials and information provided by Disclosing Party to Receiving Party and identified at the time of disclosure as “Confidential” or bearing a similar legend, and all other information that the Receiving Party reasonably should have known was the Confidential Information of the Disclosing Party, will be considered Confidential Information; for the avoidance of doubt, the Service, all pricing information and terms of this Agreement, are Confidential Information of Plaid Receiving Party will maintain the confidentiality of the Confidential Information and will not disclose such information to any third-party without the prior written consent of Disclosing Party. Receiving Party will only use the Confidential Information internally for the purposes contemplated hereunder. The obligations in this Section 4 will not apply to any information that: (i) is made generally available to the public without breach of this Agreement, (ii) is developed by the Receiving Party independently from the Disclosing Party’s Confidential Information, (iii) is disclosed to Receiving Party by a third-party without restriction, or (iv) was in the Receiving Party’s lawful possession prior to the disclosure to the Receiving Party and was not obtained by the Receiving Party either directly or indirectly from the Disclosing Party. Receiving Party may disclose Confidential Information as required by law or court order; provided that, Receiving Party provides Disclosing Party with prompt written notice thereof and uses its best efforts to limit disclosure. At any time, upon Disclosing Party’s request, Receiving Party will return to Disclosing Party all Disclosing Party’s Confidential Information in its possession, including, without limitation, all copies and extracts thereof. Notwithstanding the foregoing, (a) Receiving Party may disclose Confidential Information to any third-party to the limited extent necessary to exercise its rights, or perform its obligations, under this Agreement; provided that, all such third parties are bound in writing by obligations of confidentiality and non-use at least as protective of the Disclosing Party’s Confidential Information as this Agreement and (b) all Feedback and the API Package will be solely Plaid’s “Confidential Information.”

5. INDEMNITY

The Client will defend, indemnify and hold Plaid harmless from and against all third-party claims, actions, proceedings, damages, losses, judgments, settlements, costs and expenses (including attorneys’ fees arising from or in connection with (i) Client breach of any laws or regulations (including with respect to privacy), (ii) Client’s use of the Services and Output, or (iii) Client’s violation of any agreements it has with any End User.

6. WARRANTY; DISCLAIMER

THE SERVICE IS PROVIDED “AS IS.” TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PLAID NOR ITS AFFILIATES, SUPPLIERS, LICENSORS, AND DISTRIBUTORS MAKE ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, OR ANY WARRANTY THAT THE SERVICE IS FREE FROM DEFECTS. PLAID DOES NOT MAKE ANY WARRANTY AS TO THE OUTPUT THAT MAY BE OBTAINED FROM USE OF THE SERVICE.

7. LIMITATION OF LIABILITY

TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PLAID NOR ITS AFFILIATES, SUPPLIERS, LICENSORS, AND DISTRIBUTORS WILL BE LIABLE UNDER THIS AGREEMENT FOR ANY: (A) INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR (B) LOSS, ERROR, OR INTERRUPTION OF USE OR DATA (IN EACH CASE, WHETHER DIRECT OR INDIRECT), OR (C) COST OF COVER OR LOSS OF BUSINESS, REVENUES, OR PROFITS (IN EACH CASE WHETHER DIRECT OR INDIRECT), EVEN IF THE PARTY KNEW OR SHOULD HAVE KNOWN THAT SUCH DAMAGES WERE POSSIBLE AND EVEN IF A REMEDY FAILS OF ITS ESSENTIAL PURPOSE. TO THE FULLEST EXTENT PERMITTED BY LAW, PLAID’S AGGREGATE LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE AMOUNT PAID OR PAYABLE BY CLIENT FOR THE SERVICE DURING THE SIX (6) MONTH PERIOD PRIOR TO THE EVENT GIVING RISE TO LIABILITY (PROVIDED THAT, IF NO FEES ARE PAID OR PAYABLE, SUCH AMOUNTS WILL BE LIMITED TO ONE HUNDRED DOLLARS (US$100.00)).

8. MISCELLANEOUS

If any provision of this Agreement is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect and enforceable. This Agreement is not assignable or transferable by a party except with the other party’s prior written consent; but, a party may transfer and assign its rights and obligations under this Agreement without consent to an affiliate or in connection with a merger, acquisition, corporate reorganization, or sale of all or substantially all of its assets to which this Agreement relates. If such a transfer or assignment is made in favor of a direct competitor with the other party, then the other party may terminate this Agreement upon written notice. This Agreement is the complete and exclusive statement of the mutual understanding of the parties and supersedes and cancels all previous written and oral agreements, communications, and other understandings relating to the subject matter of this Agreement, and all waivers and modifications must be in a writing signed by both parties, except as otherwise provided herein. No agency, partnership, joint venture, or employment is created as a result of this Agreement. Any notices in connection with this Agreement will be in writing and sent by first class US mail, confirmed facsimile or major commercial rapid delivery courier service to the address specified below (or such other address as may be properly specified by written notice hereunder). Email notice will be permitted by Plaid if sent to the applicable account email address. This Agreement will be governed by the laws of the State of California, without regard to the conflict of law provisions thereof. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in any competent court), any dispute arising under this Agreement will be finally settled in accordance with the Comprehensive Arbitration Rules of the Judicial Arbitration and Mediation Service, Inc. (“JAMS”) by a single arbitrator appointed in accordance with such Rules. The arbitration will take place in San Francisco, California, USA, in the English language and the arbitral decision may be enforced in any court. With respect to all disputes arising in relation to this Agreement, but subject to the preceding arbitration provision, the parties consent to exclusive jurisdiction and venue in the state and Federal courts located in San Francisco, California. Plaid may modify this Agreement from time to time, including, without limitation, to reflect changes to the law or changes to the Service. Plaid will post notice of modifications to this Agreement on its website or otherwise provide or make available the notice or modifications to Client. Modifications will not apply retroactively. If Client does not agree to the modified terms, it will discontinue its use of the Service. Client’s continued use of the Service following notification of any modifications to this Agreement constitutes acceptance of those modifications.

September 2016