Tallinn Business Bank Ltd.

Valid since 01.01.2003

1.1. The Account Agreement or Settlements Agreement (hereinafter called Agreement) regulates relations between Tallinn Business Bank, as a keeper of the Account (hereinafter called Bank) and the Account owner (hereinafter called Client) on opening and use of a bank account.

1.2. The bank account (hereinafter called Account) is a bank account accessible for Client, where the Bank keeps money amounts belonging to Client or transferred to Client.

1.3. Client has the right to open several Accounts in his name, if its not forbidden by the law.

1.4. Client has the right to open an Account for both Estonian Kroones and foreign currency quoted by the Bank.

1.5. All relations between Client and the Bank in regard to the Account and not stipulated in the Agreement are to be treated in accordance with the General Terms and Conditions of the Bank

1.6. The present Agreement is subject to the legislation of the Estonian Republic.

2.1. Client has the right for multipurpose use of the Account choosing services the most suitable for him from the variety of options offered by the Bank and signing the Agreement with the Bank.

2.2. The Bank is to credit the Account in favour of Client within the limits of transferred amounts.

2.3. The Bank is to debit the Account upon the Clients request, under the third party call on the basis of the Agreement or in cases stipulated by the law. The Bank has the right to debit the Account on the basis of other contracts related to the Agreement and Account including calls upon loan and securities agreements, as well as to deduct commission fee on the basis of agreements and the price list of the Bank.

2.4. If it is not differently stipulated, Client has the right to make operations related to the Account only within the limits of the amount available on the Account.

2.5. Client manages the Account himself or via his legal or authorised representative.

2.6. Client or his representative has to confirm the right to use the Account in the way acceptable to the Bank. Should the Bank doubt the competence of the Client, the Bank is entitled to refuse fulfilment of transaction. In this case the Bank is not responsible for losses that may occur as a consequence of refusal to fulfil transaction.

2.7. When opening an Account, the Bank has the right to set up minimum limit for the amount to be kept on the Account.

2.8. The Bank has the right to block or arrest the Account only in cases specified by the law, Agreement or General Terms and Conditions of the Bank.

2.9. The Bank keeps registered all debit and credit operations done with the Account.

2.10. Client has the right to receive information on the balance as well as on debiting and crediting the Account at any time and at his expense.

2.11. Client is obliged to inform duly the Bank, if the information he supplied on signing the Agreement changed.

3.1. Client forwards his orders to the Bank in writing or in any other way agreed with the Bank. Client is responsible for all errors and discrepancies in the order or that occurred while the data was being transmitted.

3.2. Client orders can be forwarded to make single payment or multi-payments.

3.3. The Bank has the right to assume that contents of the transmitted order are in line with Clients own accord.

3.4. The Bank is to accept for fulfilment only such orders from Client, which correspond to the terms and conditions agreed between the Bank and Client, registered in a proper way and meet requirements of the Bank of Estonia and instructions of the Bank as well as in case they have clear meaning, they are practicable and in line with Clients own accord.

3.5. If Clients order is not in line with the requirements stipulated in the clause 3.4, the Bank has the right to reject the fulfilment of Clients order notifying Client by any means of communication at its option or by sending the order back to Client.

3.6. If the amount of payment exceeds the limits stipulated by the Bank, the Bank has the right to request from Client additional confirmation for the payment order and put the fulfilment on hold until receipt of such confirmation.

3.7. Prior to the payment order being accepted for fulfilment, the Bank has the right to ask Client for a documentary confirmation that the amount to be used for transaction has legal source.

3.8. Client is to provide sufficient money amount on the bank Account to fulfil all payment orders made on the basis of the Agreement or any other agreements related to the Account and concluded between Client and the Bank.

3.9. When Client has on his bank Account less money than it is necessary to fulfil payment order and pay for related services, the Bank is obliged to fulfil such order only if it was previously agreed between parties. If the Bank fulfilled such order without preliminary agreement, the latter is to be considered as the Bank payment loan.

3.10. The Bank is to fulfil Clients orders within the terms stipulated by legislation and under the Banks terms and conditions for payments settlement.

3.11. Acceptance day of the payment order for the Bank is a day when Client forwarded to the Bank all information and documents required for fulfilment of such order, and the money amount available on the Account allows to fulfil such order and pay for accompanying services.

3.12. Until the Bank has not accepted the order for fulfilment or performed referred obligations, Client has the right to cancel the order sent to the Bank notifying the Bank by any means of communication accepted by the Bank or in writing.

3.13. The Bank has the right to record all orders received through means of communication, or any other actions related to the use of services, and if it is necessary use these records as an evidence of Clients orders and actions.

3.14. Client receives information on fulfilment of orders from Statement of the Account or in any other form previously agreed with the Bank.

4.1. If Client performs operations and transactions in foreign currency, the Bank has the right to apply all terms and restrictions valid in the country of origin of such currency that can affect the Bank when making transactions in this currency.

4.2. If there is no separate agreement, all obligations quoted in foreign currency are to be fulfilled in the same currency.

5.1. In case of error transfer Client has to inform the Bank immediately on its finding and return the amount to the Bank.

5.2. If Client refuses to return the amount transferred to the Clients Account by mistake at its own will, the Bank has the right to block or debit the Clients Account for such amount without Clients consent.

5.3. If the Bank incompetently debits Clients Account, including incompetent decline to fulfil Clients order, the Bank is obliged to credit Clients Account for the debited amount

5.4. When money deposit and withdrawal are made in cash, the Bank and Client are obliged to check the amount and present claims immediately.

6.1. The Bank is to pay Client interests for amounts kept on the Account in accordance with the interest rate stipulated by the Bank, if it is not separately fixed in the Agreement.

6.2. Terms and order for interest calculation are to be set up by the Bank. The Bank sets up the interest rate and interest calculation on the basis of the current legislation. If it is stipulated by the legislation, the Bank deducts the income tax from the sum of calculated interest when paying interests (transfer to the Account). Client has the right to get information on the order of calculation and payment of interests.

6.3. Client is to pay for opening, administration and use of the Account in accordance with the price-list of the Bank, if the Agreement doesnt stipulate otherwise.

6.4. The Bank has the right to debit the Account for all calls stipulated in the Agreement or any other contracts concluded between the Bank and Client and related to the Account, including loan agreements, agreements for transactions with bonds and securities and use of bank cards, as well as service fee and other commissions and penalties. If on the Account there is no sufficient amount to debit the abovementioned sums, the Bank has the right to debit such sums from other Clients accounts at the Banks option.

6.5. The Bank debits service fee and other amounts and penalties to be paid from the Account in the currency of the Account. When debiting the foreign currency Account for the service fee and other amounts to be paid which are calculated in Estonian Kroones, the Bank converts the foreign currency into Estonian Kroones on the basis of the currency exchange rate valid for the day of transaction.

6.6. The Bank has the right to change unilaterally the service fee and interest rates notifying Client in advance. Client has the right to terminate the Agreement, if he does not accept such changes.

7.1. If the Bank fails to credit duly the Account in the amount transferred to Client or to make a correct debit, or fails to fulfil duly the Clients order, the Bank is to pay penalties in the amount and in the way stipulated in the current legislation.

7.2. The Bank, as an initiator of payment, bears responsibility for damages caused by non-fulfilment or unduly fulfilment of transfer made under the Account holders request but in the amount not over EUR 12 500. If the Bank recovers the damage, Clients payment order is considered as cancelled.

7.3. On receipt of the transfer the Bank, as the keeper of Beneficiarys Account, bears responsibility for the damage caused by non-crediting the Account for the amount transferred to the Client or unduly crediting, but penalty does not exceed EUR 12 500.

7.4. The Bank bears responsibility for actions of the payment mediator appointed by the Bank in the amount not over EUR 12 500, for actions of the payment mediator abroad in the amount not over EUR 25 000

7.5. The Bank is not responsible for the damage caused by the payment mediator failing to fulfil the transfer or fulfilling it unduly, if the amount of transfer exceeds EUR 75 000 or the amount is to be transferred to the Account holder located outside Estonia and European Union or when the amount is transferred from such Account holder.

7.6. The Bank is not responsible for the damage caused by non-fulfilment of payment or its unduly fulfilment due to incorrect or error order, or circumstances stipulated in the current legislation ( the law on money laundering, arresting, blocking ) or when the transfer was not fulfilled or was fulfilled unduly by the payment mediator appointed by the Client.

7.7. The Bank is not responsible for possible damage or any other effect, if they were caused by lack of information on change of the data submitted to the Bank by Client when signing the Agreement.

7.8. The Bank is not responsible for the damage caused by non-fulfilment of obligations due to the circumstances beyond its control (force major).

8.1. The Agreement comes into force immediately after signing and is indefinite.

8.2. The Bank has the right to change the terms and conditions of the Agreement unilaterally NOTIFYING Client 1 month in advance. If Client does not terminate the Agreement within this time, alterations are considered accepted. If Client doesnt accept the alterations, Client has the right to terminate the Agreement on the basis of clause 8.3

8.3. Client has the right to terminate (to refuse) the Agreement at any time.

8.4. The Bank has the right to terminate the Agreement notifying Client 6 months in advance.

8.5. The Bank has the right to terminate the Agreement if the balance of the Account is smaller than minimum stipulated by the Bank or Client has not used the Account for 12 months, or if minimum amount on the Account was not restored within 1 month.

8.6. The Bank has the right to terminate the Agreement unilaterally without any notification, if Client seriously breaks the obligations stipulated in the Agreement. The following is considered as breaches:

8.6.1. Client submitted to the Bank false information or documents or refuses to provide them at all;

8.6.2. Client fails to provide information or documents confirming legal source of its monetary funds upon the Banks request or there are some other reasons to suspect Client in money laundering;

8.6.3. Client has constant debt to the Bank;

8.6.4. Other circumstances stipulated by the legislation, especially those related to restriction of competence, missing rights for representation or if they are undefined.

9.1. Termination of the Agreement does not change the order of recovery and fulfilment of financial calls occurred before the Agreement was terminated.

9.2. The Bank closes the Clients Account one month later after the termination of the Agreement. Before closing the Account the Bank shall transfer to the Clients Account interests to be paid and deducts all not settled service fees and debts to the Bank and pays to Client or to the third party appointed by Client the balance remained on the Account or transfers it to the bank account determined by Client.

9.3. If within one month after termination of the Agreement, the Bank receives a transfer in favour of Client, the Bank is to accept the transfer and notify Client, make payment upon the first request of Client or transfer the amount to the account determined by Client

9.4. After the Agreement has been terminated, no interests are to be calculated for the amount kept with the Bank.

9.5. If it is not differently stipulated, after termination of the Agreement all related contracts are considered as terminated and time terms for fulfilment of obligations come into force.

9.6. In case of death of a private client, the Bank closes the Account after settlement of all payments made on the basis of documents confirming rights for inheritance which are specified by the law.

9.7. Closed Account cannot be reopened.

10.1. The Bank keeps in secret all information received in the result of signing the Agreement. The Bank has the right to provide information on Agreement and Client for the third party who is entitled to receive such information in accordance with the current legislation, as well as for business organisations belonging to one and the same consolidated group of companies with the Bank.

10.2. All relations between the Bank and Client related to the Account and not stipulated in the present Agreement are to be regulated by General Terms and Conditions of the Bank.

10.3. Client confirms that he is familiar with General Terms and Conditions of the Bank, accepts them and agrees to fulfil them.

10.4. By signing the Agreement Client confirms that he is familiar with General Terms and Conditions of the Bank, fully understands them and is willing to conclude the Agreement with the Bank under the same terms and conditions.

10.5. The present Agreement is compiled in Estonian in 2 copies, each of them having equal legal force. The English text of the Agreement is a translation from Estonian and in case of court disputes the text of the Agreement in Estonian is to be considered as the original.