everything you need to know about your new business account...4 business deposit account agreement...

Everything you need to know about your new business account.

Welcome to Liberty Bank.Here are details about your new business account with us. Keep this in a handy place to refer to if you have questions. Or, as always feel free to stop in a branch, visit us online liberty-bank.com or give us a call 888-570-0773.

MEMBER FDIC EQUAL HOUSING LENDER BRO024 EFFECTIVE: JULY 1, 2020

Part I: General Provisions .................................. 2

Part II: Using Your Account ................................7

Part III: Wire and Automated Clearing House (ACH) Transfers ......................10

Part IV: Miscellaneous ..........................................11

Part V: Business Debit Card Agreement .... 12

Part VI: Special Rules Relating to Online Banking ...........................................15

Part VII: Jury Trial Waiver .................................16

Part VIII: Funds Availability Information ... 17

Part IX: Important Information .................... 17

Part X: Compliance with Laws, Rules and Regulations ...................................18

Part XI: Cash Reporting Requirement ...... 18

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Business Deposit Account Agreement

CHECKING AND SAVINGS ACCOUNTS

Interest Rate and Annual Percentage Yield (APY) Information

Daily Balance Range* Interest Rate APYBusiness Money Market

$0.01 – $24,999.99$25,000 – $49,999.99$50,000+

Cinch Business Savings$0.01 – $9,999.99$10,000 – $24,999.99$25,000+

Business Savings Overdraft Protection$0.01 – $9,999.99$10,000 – $24,999.99$25,000 – $49,999.99$50,000 – $74,999.99$75,000+

Business Municipal Money Market Preferred$25,000 – $99,999.99$100,000 – $499,999.99$500,000+

Business Municipal Money Market$25,000 – $99,999.99$100,000 – $499,999.99$500,000+

IOLTA/IORETA$0.01 – $9,999.99$10,000 – $19,999.99$20,000+

* The interest rate paid will be paid on the entire balance, based upon the rate in effect for the range in which your entire balance falls on any given day.

Certificates of Deposit

AccountType

Term(if applicable)

Maturity date(if applicable)

InterestRate

AnnualPercentage Yield

If you are opening an interest bearing account online, visit the Business Savings Rates page on liberty-bank.com to view the current interest rate.

Part I: General Provisions

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Balance and Monthly Maintenance Service Charge InformationThe minimum balance requirements for all Accounts, and the minimum balance rules to avoid monthly maintenance service charges and per check charges are described below and in the Liberty Bank Deposit Account Rate Sheet and the Schedule of Fees and Charges (separate document), as each may be amended by us from time to time.

Visit the Business Savings Rates page on liberty-bank.com to view the current interest rates. 1 Unlimited free transactions include: checks paid, checks deposited, deposit tickets processed and electronic debits and credits.2 Variable. Average of the Three-Month U.S. Treasury Bill Rates for the previous calendar month (not to exceed 6.00%).3 Interest bearing Account. Please see rate sheet for current Annual Percentage Yield.4 If at any time during the statement period your balance falls below the required minimum daily balance, fees will apply. 5Requires a main operating checking Account with Liberty Bank.6Municipalities only.7 PayBack Business Checking rebates include other banks’ ATM surcharges, refunded up to $15 per statement cycle, in the statement cycle the fee was incurred while the Account is open are labeled as “ATM Surcharge Rebate.”

Account Type

Monthly Maintenance

Service Charge

Per Item

Charges

Earnings Credit

Minimum Balance to

Avoid Monthly Maintenance

Service Charge

Minimum Balance

to Earn APY

Minimum balance to open is $25

PayBack BusinessChecking7

None N/A1 No N/A N/A

Commercial Checking $15 $0.15 Yes2 N/A N/A

Non-profit Checking None N/A No N/A N/A

Business Money Market None N/A No3 N/A $0.01

Cinch Business Savings None N/A No3 N/A $0.01

Business Savings Overdraft Protection $3 N/A No3 $1004 $0.01

Business Municipal Money Market5 None N/A No3 N/A $25,0006

Business Municipal Money Market Preferred5 None N/A No3 N/A $25,0006

IOLTA / IORETA None N/A No3 N/A $0.01

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1. General Definitions: In this Business Deposit Account Agreement (the “Agreement”), the words “you” and “your” mean the governmental or business entity (the “Business”) that has opened a business deposit Account with Liberty Bank, and each individual who is authorized by the Business to use the business deposit Account.

2. Additional Definitions: “Account” means any business NOW, business checking type, business certificate of deposit, business money market type,

and/or business savings type Account you have opened with us. “Available Funds” means the collected funds in your Account which have been fully and finally paid; excluding funds

against which we have placed a “hold.” We may place a “hold” against funds in your Account as described elsewhere in your Business Deposit Account Agreement (See Parts II, VI, VIII). We may also place a “hold” against funds in your Account to allow certain Account withdrawals, such as point-of-sale (POS) transfers, to clear.

“Online Banking” means our system that allows you to access your Accounts and make transfers through the Internet. “Business Day” means every Monday through Friday, except Federal holidays. “Check” means any check, draft, negotiable order of withdrawal, or other item which you may deposit to the Account or

transfer to us. “Collected funds” means cash or the proceeds of checks or other deposited funds which have been fully and finally paid, but

does not include funds against which we have placed a “hold.” “Bill Payment” (Bill Pay) is the separate service we offer through Online Banking with the assistance of another party, under

the terms of a separate agreement between you and the other party, that allows you to request transfers of funds to third parties. Current terms and conditions governing Bill Payment are described in the “Bill Pay Terms and Conditions.”

“Maturity Date” means the original maturity date shown on the face of a certificate of deposit Account certificate or the maturity date of any renewal certificate, as applicable.

“Post-dated check” means a check that is dated in the future. “UCC” means the Uniform Commercial Code as adopted in Connecticut, and as amended from time to time. 3. Representations - All Accounts: To induce us to open your Account, you represent to us that:

• all the information furnished by you in connection with the opening of the Account is true and complete;

• the Account will be used only for proper business purposes, and not for personal, family or household purposes;

• the Business opening the Account is lawfully organized and authorized to do business in Connecticut.

If your Account is a NOW Account, you also represent to us that:

• the Business opening the Account is a governmental entity permitted to have a NOW Account, a not-for-profit organiza-tion described in Section 501(c)(3) through (13) or in Section 501(c)(19) of the Internal Revenue Code, or another not-for-profit business entity that is permitted under applicable Federal and Connecticut law to have a NOW Account.

We can continue to rely on these representations as long as the Account is open. If any of these representations becomes untrue, you agree to tell us immediately in writing.

4. General Agreement: If you make any deposit to or otherwise use your Account, you are bound by this Agreement and agree to all the terms contained in it. The Liberty Bank Deposit Account Rate Sheet, Funds Availability Information and Schedule of Fees and Charges (separate document), as each and all may be amended by us from time to time. Unless this Agreement specifically says otherwise, you are also bound by the Connecticut and Federal laws that apply to checks and deposit Accounts. We reserve all our rights under those laws and expect you to fulfill your legal obligations to us, especially those that you have under this Agreement and the UCC. If you ask us to provide other Account services to you (such as, but not limited to, payroll processing, merchant processing, and/or cash management services), the separate contracts for those services will also apply to you.

5. Account Opening: You agree to furnish all forms and documents we require to open the Account. These may include corpo-rate or partnership resolutions or authorizations, in addition to other business documents. We also require a certified tax-payer identification number. You agree that we do not have to open the Account or allow any withdrawals from the Account until you have given us all forms and documents we require.

6. Credit Investigation: We may make reasonable inquiries about you, as we deem appropriate, before we open the Account and also while the Account is open. These inquiries may include credit checks with credit bureaus and/or consumer or commercial reporting agencies, as well as inquiries of other businesses where you maintain Accounts or where you are employed. You give us permission to make these inquiries without notice to you.

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7. Disclosure of Account information:

We will disclose information to third parties about your Account(s) and/or your Account transactions in the following instances:(a) We will disclose information where it is necessary for completing Account transactions, or collecting checks, or for

investigating possible errors in Account transactions.(b) We will disclose information as allowed by law in order to verify the existence and condition of your Account for a third

party, such as a credit bureau or merchant, payee, or holder of a check issued by you, at your request or on your behalf.(c) We will disclose information in order to comply with any law, court order, or proper governmental request, such as sub-

poenas, tax information, Bank examinations and reports of unusual cash transactions.(d) We will disclose information if you give us your written permission.(e) We will disclose information to our agents, auditors and collection attorneys.(f) We will tell a holder of one of your checks or a merchant attempting to process a point-of-sale debit to your Account

whether it would be paid or honored if presented at the time of the request.(g) We will disclose information to government officials in connection with suspected violations of law.(h) We will disclose information to third parties if you owe us money and we take legal action to get it.(i) We may disclose information relating to an Account which does not identify you or your Account.(j) We will disclose information to carry out your instructions to another party that, under an agreement with us, assists us

in providing Account services to you (including, for example, electronic funds transfer Account services).(k) We may disclose information relating to your Account which is allowed to be disclosed under State and Federal privacy

laws.(l) We may disclose information as allowed by law to our present and future subsidiaries and affiliates, in order to offer you

additional or improved financial products and services available through Liberty Bank (including our present and future subsidiaries and affiliates).

(m) We may also have other lawful reasons for disclosing information to third parties about your Account(s) and/or about your Account transactions.

8. Telephone Monitoring: For quality control, customer service, and employee training reasons, you agree that if you telephone the Bank for customer service or related reasons (including reasons unrelated to your Account), your telephone call may be randomly selected for monitoring or recorded by a Bank-authorized customer service supervisor, without any notice to you during your call. We will use this random call monitoring only to help maintain and improve the quality of service we provide to our customers.

9. Disputes: If the owners and/or managers of the Business have a dispute among themselves, we don’t have to recognize such a dispute at all. But if we do, we can require you and/or any owner or manager of the Business to either:

(a) get an injunction or other court order protecting us; or

(b) execute to us, in a form and with sureties acceptable to us, a bond protecting us against any claims that may result from the action you or they (or anyone else) ask us to take.

If we receive notice of a dispute between or among you and/or any owner or manager of the Business, we may refuse you and them access to the Account until we are satisfied that the dispute will not affect us. We will have no liability to any of you if we assert these rights.

10. Transfers and Pledges: You may not transfer, assign or pledge the Account to anyone unless we agree to the transfer or pledge in writing. We do not have to give you our permission. You may not use the Account to secure a debt you owe to someone other than us without our written permission. Normally, we will not give that permission.

11. Interest Rate: No interest is paid on a business checking type Account. Please refer to the Liberty Bank Deposit Account Rate Sheet for the applicable interest rate we are paying on business NOW, certificate of deposit, money market, and savings type Accounts. For savings and money market type Accounts, we compound interest daily and credit interest on a monthly basis or at Account closing.

(a) Accrual of Interest on Noncash Deposits: Interest begins to accrue no later than the business day you deposit non-cash items (for example, checks).

12. Notice of Withdrawal - NOW, money market type and savings type Accounts: You agree that we may require at least seven (7) days’ advance written notice of your intention to withdraw or transfer funds from a NOW, money market, or savings Account. This advance notice period also applies to checks drawn against a NOW or money market Account. We would not normally impose this advance notice requirement on withdrawals, but reserve the right to do so. We would expect, except in unforeseen circumstances, to give advance notice of our intent to impose this requirement. We will not impose this requirement on your Account unless we impose this requirement on all similar business deposit Accounts held by third parties with us.

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13. Certificates of Deposit:

Rate Information: You will be paid the disclosed rate until first maturity.

Compounding and Crediting Frequency: Interest will be compounded monthly. Interest will be credited monthly, upon maturity, and/or when the CD is closed, except for Jumbo CDs. Interest on Jumbo CDs is calculated using the simple interest method and interest is credited at maturity.

Minimum Balance to Open the Account and Obtain the Annual Percentage Yield Disclosed:

Withdrawal of Interest Prior to Maturity: The annual percentage yield assumes interest will remain on deposit until matu-rity. A withdrawal will reduce earnings.

Term or Type Minimum to Open Minimum to Earn Interest

3 months $500 $5006 months or greater $5,000 $5,000 Jumbo $100,000 $100,000

Early Withdrawal Penalties: No part of the principal may be withdrawn prior to maturity without the Bank’s consent. If we allow an early withdrawal, the penalties listed below may apply. Should a withdrawal be made which brings the Account balance below the required minimum, we may require the CD to be closed.

In certain circumstances, such as the death or incompetence of an owner of the CD, the penalty may be waived. We will require a death certificate or certified court order before permitting a penalty-free withdrawal under these conditions.

CD TERM PENALTYTerms of 1 Year or Less $25.00 plus 1.00% of the Amount Withdrawn

Terms of More Than 1 Year $25.00 plus 3.00% of the Amount WithdrawnJumbo CDs all terms 100% Interest Earned to Date

Renewal Policies: This Account will automatically renew at maturity at a similar term as the maturing CD. If the maturing CD balance does not meet the “Minimum Balance to Open” requirement in effect for that type of CD, 0% interest rate will apply.

For CDs that renew automatically, you have 10 calendar days after the maturity of the CD to withdraw all or part of the funds from the matured CD without penalty, and to tell us that you do not want the CD to be renewed. You may also instruct us to renew the CD for a different available term than the matured CD. We will pay interest on the funds in a matured CD at the interest rate in effect as of the maturity date of the CD, up to the date on which you tell us that you do not want the CD to be renewed automatically. However, if you do not give us any renewal instructions during the 10 calendar days after maturity, we will automatically renew your CD as of its maturity date.

Jumbo CDs will automatically renew to the same term upon maturity but will become a non-interest bearing Account and will not earn any interest after maturity, unless and until you contact us and give us specific renewal instructions for your CD.

Additional Restrictions on CDs: We do not permit deposits to a CD after the CD has been opened and before its Maturity Date. We also do not permit any preauthorized or telephone transfers of funds (other than interest that has been credited to the CD) from a CD.

14. Interest Withholding: We may be required under applicable law to withhold a portion of the interest we credit to your Account (if the Account is interest-bearing) and pay the amounts withheld to the Internal Revenue Service.

15. Savings Account Subaccount: We may at our discretion establish a special savings Account subaccount (the subaccount) linked to your business checking or NOW Account. You will not be allowed to directly access this subaccount. This subaccount is only for our internal accounting and other purposes. This subaccount will not affect your business checking or NOW Account statements, balances, FDIC insurance, funds availability, or interest earned. As is the case with all our savings Accounts, we reserve the right to require at least 7 days’ advance written notice of withdrawal from the subaccount. (See Section 12, above.)

We may transfer funds from your business checking or NOW Account into the subaccount after we have finished processing withdrawals, transfers, checks, debits, payment orders, and other requests presented to us for payment of funds from your business checking or NOW Account. We may also transfer funds out of the subaccount as needed (up to 6 times in any calendar month) to cover withdrawals, transfers, checks, debits, payment orders, and other requests presented to us for pay-ment of funds from your business checking or NOW Account. As part of the 6th transfer of funds during a calendar month from the subaccount to your business checking or NOW Account, we will transfer the entire balance from the subaccount to your business checking or NOW Account, and we will not make any more transfers of funds between your business checking or NOW Account and the subaccount for the rest of that calendar month.

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16. Charges: You agree to pay the charges disclosed in our Business Accounts Solutions Brochure and the Schedule of Fees and Charges (separate document). All charges disclosed therein may be paid from the Account automatically and without any specific request from you. The charges disclosed in the Balance and Monthly Maintenance Service Charge Information Table (Part I) and the Schedule of Fees and Charges (separate document) are for normal Account rela-tionships. They may be higher or lower for special Account relationships, including those Accounts for which we provide Account analysis services. We will not be liable for dishonoring any check, withdrawal or funds transfer request, electronic debit, payment order, or other request for funds from your Account, if the deduction of charges results in insufficient collect-ed funds in your Account.

PART II: Using Your Account1. Withdrawals: We may require you to make withdrawals from your Account at the Liberty Bank office where the Account

was opened. We reserve the right to pay any withdrawal by check instead of cash. We may require proper identification for any withdrawal from the Account.

We may process withdrawal and funds transfer requests, checks, electronic debits, payment orders, and other requests for funds from your Account received by us during any Business Day in whatever order we choose. We may also, at our sole discretion, place a “hold” on funds in your Account in an amount equal to a withdrawal or funds transfer request, check, electronic debit, payment order, or other request for funds from your Account, as soon as we receive any electronic or other notice of the request for funds. If we do this, we do not have to make the funds that are subject to a “hold” available to you for withdrawal or to pay any check or other debit from your Account, apart from the request for funds that was the reason for our putting the funds on “hold.”

2. Deposited Checks: If you deposit a check to the Account, we will collect the check on your behalf. You will normally have final credit for the check only when:

• we have collected the proceeds of the check;

• the proceeds are in cash or solvent credits;

• the proceeds have been received at our offices; and

• payment by the drawee of the check is final.

3. Collection Charges: There are certain checks that we will not cash or accept for deposit. These include checks drawn on Banks in foreign countries. We will try to collect these checks for you from the other Bank and, if we do, we will deposit the money into your Account. We will pass on to you any charges we incur in attempting to collect any check you deposit with us. (See also Section 5, below.)

4. Right to Draw Against Deposited Items: Your right to draw against checks or cash you deposit to the Account is controlled by statute, and by our Funds Availability Information, which is part of this Agreement. Applicable laws and our Funds Availability Information (see Part VIII of this Agreement) may change from time to time. You may request at any time during regular banking hours, the current Funds Availability Policy.

We may, at our sole discretion, give you provisional credit for certain checks which you deposit to your Account before we have received final payment for those checks, and let you write checks or make withdrawals against provisionally credited funds. If for any reason we don’t receive final payment for any check you deposit, we may reverse any provisional credit we gave you, even if you have already used the provisional credit. If there is not enough money in the Account to cover the reversal, you will owe us any amount that we did not get back from the Account.

If we don’t get final credit for any check you deposit to your Account, we may charge this check back to your Account. You agree to pay to us any funds we are unable to charge back to your Account due to insufficient collected funds in the Account, immediately upon our request.

The dollar amount of collected funds and any provisional credit you have in the Account will be determined once each Business Day, and we will decide which checks, transfers, debits, payment orders, and other requests for payment of funds to pay and honor from your Account throughout that Business Day based on this one determination, without taking into account deposits or other credits which we post to your Account later on the same Business Day.

5. Handling Deposits: We can collect checks through the Federal Reserve Bank system or through Correspondent Banks. In handling checks, we can follow Federal Reserve rules or use any practice that is common in the banking industry or per-mitted under the UCC. We are not responsible for losses which may occur during the check collection process that are not caused by our own gross negligence or willful wrongdoing.

You agree to pay us for any costs we incur in collecting checks you deposit with us. This includes, for example, protest fees, mailing costs, foreign item charges, non-par item charges and notary fees. We may charge these costs to your Account automatically and without any specific request from you.

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When you make a deposit, even if we give you a receipt, we have the right to verify the amount of that deposit. The verified amount may differ from the sum on the receipt we gave you.

If a check you deposit is returned for insufficient funds or uncollected funds we may attempt to collect it a second time with-out telling you first.

We may refuse a deposit, limit the amount of a deposit or return all or any part of a deposit. We may also require a minimum deposit amount for each Account. We may also require you to use special deposit slips or special deposit enve-lopes for certain types of deposits.

6. Government Checks: If you deposit a check drawn on the U.S. Treasury, we can enforce the warranties you made on that check for three (3) years after the date we received the check.

7. Lost Checks: Once in a great while, a check you deposit may be lost in the Bank collection process. If it is, we will try to col-lect the check based on a photocopy of the check. We may do this without telling you first. If the photocopy is not paid, we may charge the check back to you. If we can’t get a photocopy of the check, you agree to tell us the EXACT check amount and date, and the name and address of the drawer of that check. We will then try to get a duplicate check for you. If the drawer will not give us a duplicate, we may charge the check back to you.

8. Protecting Checks: You agree to follow reasonable business practices in:

• auditing your internal books and records;

• protecting checks received by you;

• discovering internal thefts of checks; and

• safeguarding your unsigned checks against theft and unauthorized use.

You also agree to:

• Restrictively endorse each check you receive as soon as you get it, with the words “for deposit,” or similar words.

• Tell us immediately if any of your unsigned checks are missing; and

• Assume all losses which could have been prevented if you had followed reasonable business practices concerning all matters described above in this Section 8.

You agree that thirty (30) days is a reasonable time within which you should discover any theft or unauthorized use of your checks. (See also Section 16, below)

9. Endorsing Checks: If you deposit a check, and we are legally entitled to an unqualified endorsement from you, you give us the irrevocable right to place an unqualified endorsement on the check on your behalf. Also, you agree not to give us any check that you have endorsed “without recourse”. If you do, you agree that we can place your unqualified endorsement on the check. We can enforce against you any rights that an unqualified endorsement gives us.

All checks you deposit with us must be endorsed in the following manner:

• All endorsements by you and any previous endorsers must be wholly contained in the “payee zone” on the back of the check.

• You also agree that you will not deposit any check which contains any information on its back which is outside the “payee zone”.

The “payee zone” is a one and one-half inch area beginning one and one-half inches from the trailing edge of the check and extending to the trailing edge of the check. The trailing edge of the check is the left side of the check when you look at it from the front.

You agree to indemnify us against and save us harmless from any loss, damage, expense and cost (including reasonable attorneys’ fees) which we may be responsible for because the back of a check you deposit fails to comply with any of the requirements of this Section 9.

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10. Postdated or other Restricted Checks: You agree not to write any post-dated checks on the Account. We won’t be liable to you for paying any post-dated check early.

You agree that all checks you present to us for payment against the Account are payable on demand. You agree not to place any language on any checks you write which restrict the time during which we may pay the check. If you do so, we do not have to follow the time limits set forth on the check and we won’t be liable to you for not following these time limits.

11. Stopping Payment: You may ask us not to pay any check you have written from an Account of yours, other than a certified check. If you post date a check, you may ask us not to pay the check before its date by making a stop-payment request. Such requests may be oral, written or online. Oral requests may be given by telephone. All stop-payment requests must be made to an authorized Bank employee at an office or department of the Bank or using Online Banking. You must give us the Account number, name of the payee, the EXACT date, number and amount of any check you ask us not to pay. You must also give us any other information we request in order to let us identify you and the check you ask us not to pay. If you fail to do so, we will have no liability for failure to honor your stop-payment request.

Stop payments cannot be placed on certain electronic fund transfers (such as internet purchases, telephone authorizations and checks that are converted to an electronic payment at the point of purchase).

Oral stop-payment requests are valid for only fourteen (14) days unless confirmed in writing during that period. Written/online stop-payment requests are valid for six (6) months and may be renewed in writing any number of times.

You agree that, if more than one individual is authorized by the Business to use the Account, any of those individuals may ask us to stop payment of any check written against the Account, even if the check was drawn by another individual.

You will be charged a fee each time you ask us (orally, in writing or online) not to pay a check and each time you renew any such request. The amount of this fee is shown in our Schedule of Fees and Charges (separate document) and may be changed by us from time to time.

We will not be liable for failing to honor a stop payment request or releasing a stop payment request if we did not have a reasonable time to act on the request, or if our failure to stop payment or release a stop payment causes some checks to be returned for insufficient funds or for any other reason.

12. Powers of Attorney: We may rely on any power of attorney made by you until we receive actual notice of your death or the revocation, termination or suspension of such power. We may rely on a power of attorney made by you even after we receive actual notice of your incapacity, unless your power of attorney expressly indicates otherwise. We will not be held responsible for any improper use of your power of attorney by any person holding your power of attorney that occurs before we receive actual notice of the revocation or termination of such power.

You and the person to whom you have given your power of attorney, also known as an agent, each agree to notify us promptly and in writing if the power terminates, is revoked or is suspended. Whenever a person holding your power of attorney makes a deposit or a withdrawal from your Account, that person is automatically confirming that the power has not been terminated or revoked.

We may request additional documentation regarding a power of attorney, including a certification from the agent of any fac-tual matters and an opinion of counsel as to any legal matters or an English translation of any power of attorney that is not in English. We may accept a power of attorney or we may refuse to accept a power of attorney in certain circumstances, such as if we believe that the action requested is outside the scope of authority granted in the power of attorney, if we believe that the power of attorney has been revoked, terminated, or suspended, if the proposed action is illegal, if the agent refuses to provide an opinion of counsel, translation, or certification upon our request, or if we have a good faith belief that you may be subject to physical or financial abuse, neglect, exploitation, or abandonment by the agent or person acting for or with the agent.

13. Stale Checks: A stale check is one presented for payment more than six (6) months after its date. We do not have to pay a stale check, but we will have no liability to you for paying a stale check.

14. Forged Checks: If we think that one of your checks has a forged or unauthorized signature on it, you agree that we do not have to honor that check unless you specifically tell us to.

15. Facsimile Signatures: You agree to be fully and exclusively responsible for any actual or purported facsimile signature of any person(s) you have authorized to withdraw funds from the Account that appears on any check or payment order drawn on us, or on any other Account-related document, correspondence or communication, and for any payments we make in reliance on such facsimile signature(s). You agree that we may charge any payments we make in reliance on such facsimile signature(s) to the Business as long as the facsimile signature(s) resemble the facsimile signature(s) filed with us by an officer or representative of the Business. We may rely on any facsimile signature filed with us by such an officer or representative until we have received and accepted written notice of the Business’ revocation of that facsimile signature.

16. Certified Checks: We will certify checks at our sole discretion. If you lose any check that we certify for you, you agree to notify us immediately and in writing. If you cannot find the lost certified check after a thorough search, you agree to appear at the Bank office where the Account was opened or where the check was certified, and sign an affidavit of loss together with

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such other documents as we may reasonably require. You also agree that we do not have to replace any lost or stolen certified check unless and until you give us a surety bond and/or any other additional documentation that we may reasonably require.

17. Reviewing Your Statement - NOW, checking, money market and savings type Accounts: If your Account is not a Passbook or CD Account, Liberty Bank will provide you with a statement during each month any transactions occur. If no transactions occur, you will receive a statement at least once every quarter.

Upon receipt of your periodic statement for your Account, you agree to review each statement, the images of your canceled checks we may include with your statement, receipts, and any other items we send or otherwise make available to you with reasonable care for:

• Any missing deposits you may have made or any withdrawals or transfers you didn’t make.

• Any alterations, unauthorized signatures and missing or forged endorsements on checks.

You also agree to tell us in writing about any possible problem or error promptly, and in no event later than thirty (30) days after we sent or otherwise made available to you the first statement, the image of your canceled check we may include with your statement, receipt or other item containing or listing the problem or error. If you do not tell us about possible errors or problems within this time period, any claim based on any of those possible errors or problems will be conclusively considered to have been waived by you.

We will make copies of your canceled checks available to you on request. You agree that if any check image gives you a reasonable basis for suspecting a possible problem or error, you must tell us in writing about the suspected possible problem or error immediately.

PART III: Wire and Automated Clearing House (ACH) Transfers1. Receipt of Wire Transfers: We may, at our sole discretion, accept wire transfers of funds to your Account, but we are not

required to do so. If we accept a wire transfer of funds to your Account, we are not required to notify you of such acceptance. We may, at our sole discretion, send you a notice of a wire transfer of funds by first class mail, to your address as it appears on our records.

2. Wire Transfer Agreement: If you wish to send a wire transfer initiated online or in-branch, we will require you to first enter into a wire transfer agreement with us and/or give us such other documents and forms we may at our discretion require. If we require this, you must submit all required documents and forms to your local Liberty Bank office. If any inconsistencies exist between a wire transfer you wish to send and any applicable wire trans fer agreement that you have with us, the provisions of the wire transfer agreement will govern. Even if you enter into a wire transfer agreement with us, we do not have to allow you to send any wire transfer, and we do not have to accept a wire transfer on your behalf, except as required by applicable law.

3. Security Procedures: Even if we have agreed to send a wire transfer at your request, you agree that we have the right to verify the wire transfer order by calling a second person at your place of business, and/or by following such other security procedures we may consider appropriate, at our discretion. We do not have to send any wire transfer you request that does not meet all of our security procedures, as in effect from time to time.

4. Receipt of ACH Transfers: If you receive a credit from a third party into your Account by means of an automated clear-ing house (ACH), this credit is provisional and is subject to refund until final settlement through the Federal Reserve Bank occurs, or until we receive final payment as provided in Section 4A-403 of the UCC. If this occurs, we do not have to inform you of this final settlement or final payment. You agree that settlement may be transmitted through one or more ACHs, and that you are bound by the rules of all such ACHs.

5. Originated ACH Transfers: This is an additional service available in conjunction with Online Banking. ACH services are governed by a separate agreement called The ACH Origination Agreement (Internet Banking System). Please refer to this document (see below).

6. ACH Agreement: If you wish to initiate ACH transactions electronically from your Account, we will require you to first enter into an ACH agreement with us and/or give us such other documents and forms we may at our discretion require. If we require this, you must submit all required documents and forms to your local Liberty Bank office. You agree that any ACH funds transfer from your Account may be transmitted through one or more ACHs, and that you are bound by the rules of all such ACHs.

7. Returning Unauthorized, Ineligible or Improper Debits: If you have an unauthorized debit to return, you must complete and return to us the Written Statement of Unauthorized Debit form in order for the return entry to be processed no later than the opening of business on the second banking day following the Settlement Date of the original entry.

8. ACH/EFT Debit Stop Payments: For ACH/EFT debits, the stop payment request must be received at least three (3) busi-ness days before the scheduled date of the transfer. An oral (including a telephone) stop payment request is valid for only

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fourteen (14) days unless confirmed in writing during that period. A written stop payment request for an ACH/EFT debit has no expiration; however, you may notify Liberty Bank in writing if you chose to release the stop payment. All information given to Liberty Bank about an ACH/EFT you want stopped or released must be exact.

You agree to indemnify, defend and hold Liberty Bank harmless against all costs, including attorneys’ fees, actions, damag-es or claims related to, or arising from, Liberty Bank’s action in refusing payment of a ACH/EFT debit, including claims of any joint depositor, payee, or any other party having an interest in the check or ACH/EFT debit, or in failing to stop payment of an ACH/EFT debit as a result of incorrect information provided by you or if the Bank did not have reasonable time to act on the release/request.

PART IV: Miscellaneous1. Printed Checks: We will serve as your agent for the purpose of purchasing checks to be used for transactions in your

Account. We may deduct from your Account the cost of any checks and deposit slips you purchase through us. Our current charge for checks is shown in our Schedule of Fees and Charges (separate document). You agree to order supplies in time to avoid running out of checks and deposit slips.

We can require that you use our forms for making deposits, withdrawals and any other Account matters. We may refuse to accept or process any check, deposit, withdrawal or other item that does not use a form authorized by us.

2. Unavailable Funds Charge: At our sole discretion, we may allow an overdraft or use of unavailable funds or funds that are not collected funds. If we do, we may impose a charge for use of such funds.

3. Earnings Credit: If the Account is a Commercial Checking Account, we may credit an “earnings credit” against some of the service charges assessed against it. This “earnings credit” is variable and may be adjusted daily at the discretion of the Bank. To obtain the most current earnings credit rate, please call the Customer Service Center at 888-570-0773 or inquire at any Liberty Bank Office. No “earnings credit” is applied to a NOW, CD, money market, or savings type Account.

4. Notices and Statements: Unless you tell us otherwise in writing, all notices and statements concerning your Account can be sent to you by regular first class mail. We can use the most recent address we have for the Account. When we place any notice or statement in the mail to you in this way, you will be considered to have received the notice or statement.

You agree to tell us in writing as soon as you change your address. If any statement we mail to you at the most recent address we have for the Account is returned to us by the Post Office as undeliverable, we can stop sending statements and notices to you until you give us your correct address.

5. Attorneys’ Fees; Collection Costs: Under applicable law and this Agreement, we have certain rights against you on the Account and on any checks that you deposit to it and cash with or otherwise withdraw from us. You agree that if we hire a lawyer and/or a collection agency to assert or defend any of our rights against you, you will pay our collection agency fees, lawyers’ fees and our court costs if we prevail.

6. Legal Process: Should we receive any process, summons, order, injunction, execution, distraint, levy, lien or notice, which in our opinion affects your Account, we may, at our sole discretion and without any liability, refuse to honor an order to pay or a request to withdraw money from your Account. We reserve the right to place a hold on the funds in your Account until the process is disposed of to our satisfaction. We may also, at our sole discretion, pay the funds to the source requesting the process.

7. Our Right to Set-Off: Unless prohibited by applicable law, you give us a lien against the Account and the right to “set-off” and apply any funds in the Account or in the process of being collected against any debt that you owe us, even if the debt is not related to this Agreement or the Account. We can use this right no matter what the terms of the debt are and even if the debt is not due yet. We don’t have to tell you before we assert these rights.

If we exercise our right of set-off against funds in a business certificate of deposit of yours, the funds that we set-off shall be considered an early withdrawal and an early withdrawal penalty may be imposed.

8. Our Rights With Regard To Overpayments: If funds have been deposited into your Account(s), to which you are not legally entitled, by mistake or otherwise, you agree that such amounts are debts owing from you to us and you authorize us summarily to withdraw such amounts from your Account(s) or any other Account you have with us. We can do this without giving you any advance notice or demand. We can also exercise our right to set-off to recover any such amount, as described more fully in Section 7, above of this Agreement.

9. Successors and Assigns: You and we agree that this Agreement shall bind your and our successors, our assigns, and any legal representative of your estate.

10. Certain Waivers: We may waive any term of this Agreement which is for our benefit. If we do, that does not mean that we will always waive it. A waiver will not constitute an amendment of this Agreement. That will be true even if we do it many times.

We can choose not to enforce or to delay in enforcing any of our rights under this Agreement or under applicable law, with-out losing any of our rights in the future.

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We may waive demand, notice of dishonor and protest on your behalf as to any check that you deposit to your Account. You waive all other notices and demands, to the fullest extent permitted by applicable law. You also waive your right to have us begin the process of “presenting” checks you give to us for deposit by the next Business Day.

11. Captions: The captions in this Agreement are only for convenience. They do not affect the meaning of this Agreement.

12. Enforcement of this Agreement: You agree that you and we have entered into this Agreement in the State of Connecticut. This Agreement can be enforced in state or Federal courts located within Connecticut even if you don’t live in Connecticut. This Agreement and the Account are subject to applicable Federal and Connecticut law without regard to Connecticut rules concerning conflicts or choice of law. If applicable law does not permit all of the terms in this Agree ment, the ones that are not permitted will be void. At our sole discretion, the rest of this Agreement will still be in effect.

13. Amendments: We can amend this Agreement, including the Liberty Bank Deposit Account Rate Sheet and the Schedule of Fees and Charges (separate document) as often as we wish. We may apply any new or changed terms to the collected funds in your Account, funds in the process of being collected, and all future deposits to and withdrawals from your Account, unless prohibited by applicable law. If we impose new or increased charges, or change the method of computing interest so as to reduce what you earn, we will give you notice at least 14 days before the effective date of the change. Notice of change may take the form of (at our discretion) a posting in our lobbies or a notice sent to you at the address we use for your periodic Account statements.

We do not have to post or otherwise provide written notice of any amendment to this Agreement, unless required by appli-cable law. No change to any term of this Agreement will affect your responsibility to pay all amounts owed under or in connection with this Agreement or the Account.

14. Evidence of Transactions: You agree that a photographic record or copy we maintain in the ordinary course of business of any check, withdrawal, transfer, or other transaction involving your Account shall be conclusive evidence establish ing your liability in any legal action involving you and us.

15. Limited Liability: We are not responsible for anything you mail to us that is lost in transit. We are not liable to you for any action or inaction of ours relating to this Agreement or the Account, except for our own gross negligence or willful wrongdo-ing. You agree that we are not liable to you for any consequential damages, exemplary damages or lost profits, even if you advise us of the possibility of such damages.

If you give us instructions which we believe may expose us to potential liability, we may refuse to follow your instructions. If we decide to follow your instructions, we may ask you for certain protections, such as a surety bond or your indemnity in a form satisfactory to us.

PART V: Business Debit Card AgreementA. DEFINITIONS:

1. General Definitions: In this Business Debit Card Agreement (the “Agreement”), the words “we”, “us” and “our” mean Liberty Bank. The words “you” and “your” mean the governmental or business entity (the “Business”) that has opened a business NOW or checking type Account with us, and each individual authorized by the business to use a debit card in conjunction with the Account.

2. Additional Definitions: “Account” means any business NOW or checking type Account you have with us from which we agree to allow withdrawals and transfers to be made with a Debit Card, and/or to which we agree to allow deposits to be made with a Debit Card.

“ATM” means any automated teller machine where you can use a Debit Card and PIN.

“Card” and “Debit Card” means any Liberty Bank Business Debit Card we agree to issue for use with your Account.

“Card Transaction” and “Transaction” means any withdrawal, transfer, deposit, balance inquiry or other transaction made with a Card.

“PIN” means the personal identification number you agree to use to identify yourself when using the Card at an ATM or POS terminal.

“Point-of-Sale” or “POS” terminal means an electronic terminal at which you can use your Card to pay for goods and services and receive cash by debiting your Account.

B. CARD TRANSACTIONS: We currently offer the following Card Transactions:

1. Deposits and Balance Inquiries: The Card can be used to make deposits to your Account at our ATMs. (Deposits can-not be made at ATMs located at other banks.) The Card can also be used at our ATMs to get balance information on your Account and on certain additional Accounts of yours with us. (You may also be able to get balance information on your Account at certain participating Switch Network ATMs.)

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2. Withdrawals: The Card can be used to make cash withdrawals from ATMs and certain transfers of funds between your Account and certain other Accounts of yours with us. The Card Transactions described in this Subsection 2 are available at our ATMs and also at participating Switch Network ATMs.

3. Point-of-Sale (POS) Card Transactions: The Card can be used to pay for purchases (whether through a POS ter-minal or otherwise) at merchants that have agreed to accept the Card (in some cases together with the PIN) for this purpose. At the time of the purchase, you may also be able to withdraw cash, subject to cash availability and merchant agreement. These POS Card Transactions are not available at all places or merchants.

4. When Card Transactions are Available: Card Trans actions may be made at eligible ATMs and POS terminals, and at participating merchants. Liberty Bank ATMs and Switch Network ATMs are open 24 hours every day, except:

(a) All ATMs are closed briefly each day for balancing.

(b) ATMs may be closed due to malfunction or for security reasons.

5. Limitations on Availability of Services: We are members of an ATM Switch Network, and the Card Transactions described above may not be available at all merchants or at all ATMs or POS terminals where you can use your Card and PIN.

C. AGREEMENT: By applying for a Card or by using a Card, you agree to all of the terms and conditions in this Business Debit Card Agreement. You also agree that you will only use the Account and the Card Transactions for proper business purpos-es, and not for any personal, family or household purpose. This Business Debit Card Agreement is part of your Business Deposit Account Agreement. Except to the extent of any irreconcilable conflict with the express provisions of this Business Debit Card Agreement, the terms and conditions contained elsewhere in this Business Deposit Account Agreement apply to this Business Debit Card Agreement. For example, this Business Debit Card Agreement can be amended as described elsewhere in this Business Deposit Account Agreement.

D. LIMITATIONS ON CARD TRANSACTIONS:

1. General: We may limit the number, type and form of Accounts to or from which we will allow Card Transactions.

For security reasons, if you give an ATM or POS terminal the wrong PIN, the ATM or POS terminal may refuse to process the Card Transaction and also may keep your Card. For security reasons, we do not have to allow any Card Transaction after your Card or PIN has been reported lost or stolen, or if we believe that the Card or PIN has been or may be used fraudulently.

2. Limitations on ATM and POS Transactions:

(a) Daily limit for transactions with a Card and PIN: You may withdraw up to your daily limit each Business Day by using your Card and PIN. This limit applies separately to each individual person to whom we issue a Card, and applies even if you have access to more than one Account with your Card and PIN. This limit applies to the total of all with-drawals and POS transactions from all Accounts with a Card and PIN. If on a particular Business Day, the amount of Available Funds in your Accounts totals less than the daily limit, you may not withdraw more than the total of Available Funds on that day with a Card and PIN.

(b) Limit on transactions with a Card and no PIN: Some merchants may allow you to use your Card without your PIN to pay for purchases. You may be able to make POS transactions with your Card alone, without your PIN, up to the daily limit for your Card.

In deciding whether to process a POS transaction from your Account that is made with your Card alone, and without your PIN, you agree that we may either (1) immediately debit your Account for the amount of the POS transaction as soon as we receive any electronic or other notice of the POS transaction, or (2) place a “hold” on funds in your Account in an amount equal to the POS transaction as soon as we receive any electronic or other notice of the POS transaction. If we place a “hold” on funds in your Account to cover a POS transaction that you make with your Card alone, without your PIN, we do not have to make the funds that are subject to a “hold” available to you for withdrawal or to pay for any transaction from your Account, apart from the POS transaction that was the reason for our putting the funds on “hold”.

(c) Other limitations: During a malfunction of an ATM or POS terminal, our computer system or the ATM or POS system, we may limit the number, dollar amount and the types of Card Transactions you can make, including the types of Accounts you can access with a Card (whether or not at an ATM or POS terminal). We may also refuse to permit a Card Transaction if the Card has been damaged or has deteriorated to the point where this ATM or POS terminal can no longer process the Card.

For security reasons, there are other limits on the number and dollar amount of transactions you can make with a Card (whether or not at an ATM or POS terminal), and the number of times you can use your Card and PIN, in addition to the limits that are described in this Agreement.

Other limitations may apply at merchants or at ATMs or POS terminals which you can access through the ATM and POS Switch Network.

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E. CHARGES: Our charges for Card Transactions are disclosed in the Schedule of Fees and Charges (separate document).

F. THE CARD: The Card belongs to us. We can take it back at any time without any advance notice. You agree to promptly surrender the Card whenever we or our agents request it.

If more than one person is authorized to use a Card and/or PIN in connection with your Account, we cannot stop that person from initiating Card Transactions involving your Account unless we cancel all Cards and PINs that access your Account. You agree to give us at least five (5) Business Days’ advance notice if you want us to terminate another person’s authoriza-tion to engage in Card Transactions and cancel all Cards and PINs that access your Account. If you notify us orally, we may ask you to confirm the notification in writing within five (5) Business Days.

G. YOUR PIN: You agree that you will not give your PIN to anyone. You agree that you will not write your PIN on the Card or on anything that is easily accessible to an unauthorized user. YOU AGREE THAT YOU WILL NOT KEEP YOUR PIN, ACCOUNT NUMBER(S) AND CARD IN THE SAME PLACE.

If you forget your PIN, you will have to get a new PIN and you may also have to get a new Card. We do not keep any record of your PIN.

H. LIABILITY FOR CARD TRANSACTIONS:

1. General: You agree that if you give your Card or your PIN to another person, or if you ask us to issue a Card and a PIN to another person, you will be responsible for all Card Transactions done by that other person, just as if you had made the Card Transactions yourself. If you want us to terminate another person’s authorization to engage in Card Transactions and cancel all Cards and PINs that access your Account, you must give us at least five (5) Business Days’ advance notice. (Please also see Section F. above.) Any Card or PIN we issue to another person at your request will be subject to this Agreement.

2. Lost or Stolen Card or PIN: Tell us AT ONCE if you believe your Card or PIN and/or Account number(s) has been lost or stolen, or that someone has withdrawn or transferred or may withdraw or transfer money from your Account without your permission.

Tell us AT ONCE if your Account statement or an ATM or POS terminal receipt or any other item shows any Account transaction that you did not make or authorize. If you do not tell us within thirty (30) days after we sent you the first statement or receipt or other item containing or listing the problem or error, any claim based on any of those errors or problems will be conclusively considered to have been waived by you.

3. Telephone or write us: You may telephone us about any matter described in this Section H. Our telephone number for this purpose is 1-888-570-0773. Or you may write us at:

Customer Service Center Liberty Bank 315 Main Street P.O. Box 2700 Middletown, Connecticut 06457

If you telephone us about anything described in this Section H., we may ask you to confirm the information in your tele-phone call to us in writing within five (5) Business Days.

4. Give us the following information: Please give us the following information when you call or write:

(1) Your name and Account number.

(2) Describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

I. CANCELING THIS AGREEMENT: We can cancel this Business Debit Card Agreement at any time, without any advance notice to you. You can cancel this Business Debit Card Agreement by telling us in writing that you want to cancel this Business Debit Card Agreement. You can also cancel this Business Debit Card Agreement by closing your Account(s). You agree to give us at least five (5) Business Days to cancel this Business Debit Card Agreement after you give us notice. You remain responsible for all transfers of funds to and from your Account(s) during these five (5) Business Days.

Even if this Business Debit Card Agreement is canceled or ends, you understand that you will continue to be responsible for paying us whatever you owe us at that time under this Business Debit Card Agreement.

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PART VI: Special Rules Relating to Online BankingBefore using Online Banking, you should read Part I and this entire Part VI carefully.

Services available through Online Banking:

If you have applied and been approved for Online Banking Basic you may perform the following transactions:

(i) Obtain Account balances for designated Accounts and transaction information.

(ii) Transfer Available Funds between your designated business Accounts

(iii) Transfer Available Funds from a designated Account to make a payment or advance on a designated Liberty Bank business loan.

(iv) Retrieve copies of cleared checks from your business checking type Accounts.

(v) Request copies of Account statements and deposit documentation.

(vi) Request Bill Payment documentation.

(vii) Setup automated sweeps between designated Accounts.

(viii) Setup balance alert notifications on designated business checking type Accounts.

(ix) Request Check Stop Payments on business checking type Accounts.1. Enrollment: To use Business Online Banking, you must enroll for this service by visiting www.liberty-bank.com and click

the “Enroll Now” button in the Business Online Banking area to get started. Approximately 1 business day after we receive your completed enrollment, you will be contacted by email about the status of your application. If we approve your request, you may then begin using Business Online Banking. If we have declined your application, we will also notify you within 1 business day by telephone or email. If you are applying for ACH and/or Wire Transfer, you must also complete the enroll-ment process. You will be contacted within 1 business day by a Cash Management Specialist for additional financial infor-mation regarding your request. A separate agreement for other services will be provided to you at the time of approval.

2. Limitation of Liability: We won’t be liable if we fail to complete a transfer you request through Online Banking. If we fail to process a transaction, cause an incorrect amount of funds to be removed from your Account or cause funds from your Account to be directed to a person or entity which does not comply with your payment instructions, we will be responsible for returning any improperly transferred funds to your Account and for directing to the proper recipient any payments or transfers that were previously misdirected or not completed. THE RECREDITING OF YOUR ACCOUNT AND THE REDIRECTING OF TRANSFERS SHALL CONSTITUTE OUR ENTIRE LIABILITY FOR INCOMPLETE OR INCORRECT TRANSFERS. THESE ARE YOUR ONLY REMEDIES. IN NO EVENT SHALL WE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THE USE OF Online Banking, EXCEPT TO THE EXTENT SUCH DAMAGES CANNOT BE WAIVED BY LAW.

3. Warranty Disclaimer: WE DISCLAIM ALL WARRANTIES REGARDING Online Banking, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

4. Your Equipment: We are not responsible for any errors or failures in your use of Online Banking which result from any malfunction of your equipment, such as your telephone, computer or your software, or your Internet access device or other system, including errors or failures that result from any computer virus or related problems that may be associated with the use of Online Banking.

5. Accounts: You must maintain your Account in good standing with us in order to perform transactions through Online Banking. If you do not maintain your Account in good standing we may terminate your ability to access your Account through Online Banking, or we may close your Account. We do not have to give you advance notice to take these actions.

6. Transfers between Accounts: Funds transfer requests received after our regular business hours will be processed on the next Business Day. All transfers are subject to funds availability. (See Part VIII, below)

7. Your Login ID and Password: During the enrollment process, you will be asked to create a User ID and Password. You agree to select a confidential User ID and password and to keep this information confidential to prevent unauthorized access to your accounts. To use Business Online Banking, you must designate a Primary Administrator to represent and act on behalf of your business. The Primary Administrator is responsible for setting up all other persons authorized to use Online Banking on behalf of your business (“sub-users”). Primary Administrator and sub-user Passwords must be changed at least every 90 days but can be changed more frequently if the Primary Administrator or sub-user so chooses. If the Primary Administrator loses or forgets his/her Password, you must contact us at 1-888-570-0773 from 8:00 a.m. to 7:00 p.m. EST Monday through Friday and 8:00 a.m. to 3:00 p.m. EST Saturday. If an sub-user loses or forgets his/her Password, the sub-user must contact the Primary Administrator for assistance. The Primary Administrator and each sub-user agrees to retain their Passwords in a secure location and separate from any Internet access device.

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You agree to keep, and to cause your Primary Administrator and all sub-users to keep all Passwords secure and confiden-tial to prevent unauthorized access to your Account and unauthorized use of Online Banking. We may revoke or cancel any Passwords at any time without giving you any advance notice to assist us in maintaining the security of your Account or of Online Banking. Passwords are used to identify persons authorized to use Online Banking on your behalf. You agree to notify us immediately if the security or confidentiality of any Password is or may be compromised, by calling us at 1-888-570-0773. You also agree to change any compromised or potentially compromised Password immediately, by following applicable instruc-tions on Online Banking and in the preceding paragraph.

8. Internet Use: You understand that by using Online Banking, information about your Account will be transmitted over the Internet. You agree that our transmission of information in this manner does not constitute a breach of any duty we have to keep information about your Accounts confidential. You agree that we will not be liable if an unauthorized third party obtains information about your Accounts despite reasonable precautions we have taken to maintain the confidentiality of such infor-mation.

9. Account Information: Some transactional information from your current statement cycle for your Accounts may be avail-able from Online Banking. Balance and transaction information provided through Online Banking may not necessarily be current, complete or up-to-date. For a complete transaction history, you should refer to the periodic Account statements that we mail to you.

10. Electronic Messages: Electronic messages sent by you may not be immediately received by us. No action will be taken on your electronic message until we actually receive your message and have a reasonable opportunity to act.

• We will consider electronic messages sent by you to us to be the equivalent of oral or telephone messages for purposes of this Business Deposit Account Agreement.

• If we receive an electronic stop payment request from you, we may ask you to put your request in writing. (NOTE: Bill Pay stop payment requests are governed by the separate Bill Pay Terms and Conditions.)

• If we receive an electronic message from you concerning a lost Card and/or PIN, and/or Account number, or concerning your revocation of authorization for another person to use a Card and/or PIN, and/or Account number, we may ask you to confirm the information in writing.

• If we receive an electronic message from you concerning a possible Account error, or an Account transaction you are unsure about, we may require that you send us your complaint or question in writing.

You agree that an electronic message will not meet the requirements under this Agreement, that certain notices be sent to us in writing. In addition, Account transfers you make through Online Banking are considered the equivalent of trans fers requested by telephone for purposes of this Agreement.

11. Data Recording: The information and electronic messages you enter on Online Banking may be recorded. By using Online Banking you consent to such recording.

12. Bill Pay: By requesting or using Bill Pay, you agree to the separate Bill Pay Terms and Conditions, in addition to the Terms and Conditions of this Business Deposit Account Agreement.

13. Access: Liberty Bank will rely on the Company Primary Administrator’s online authentication to establish the identity and authorities of each additional sub-user. If additional sub-users are appointed, Customer is representing and warranting that they will be acting on Customer’s behalf and that they will bound by this Agreement and any other separate Agreement gov-erning the Account. Customer agrees that sub-users are fully authorized to act in the authority of any rights granted to them by the Company Primary Administrator.

Liberty Bank may permit Customer to authorize a sub-user to use Mobile Check Deposit, initiate funds transfers including Wires and ACH transactions or other transactions on an Account. If a sub-user is to initiate funds transfers or other transac-tions on an Account including, but not limited to business lines of credit, then Customer is agreeing that, for the purposes of such transaction, the sub-user is authorized to do so.

Customer shall indemnify and hold harmless Liberty Bank and each of its directors, officers, employees, agent, successors and assigns (“Indemnitees”) from and against all liability, loss and damage from any kind (including attorneys’ fees and other costs incurred in connection therewith) incurred by or asserted against such Indemnitee in any way relating to or arising out of or by reason of any acts or omissions of Customer and/or any Primary Administrator, End User or Sub-user in connection with the Business Online Banking Service.

14. Security: The Bank will verify that the Company has authorized, canceled or amended an entry that constitutes a payment order solely by means of the security procedures inherent in the Online Banking product. This Security Procedure uses 128-bit SSL encryption and requires use of login credentials: Company ID, User ID and User Password. Further authentication occurs by using a login security called Online ACCESS Control, which not only verifies login credentials, but also the end-us-ers computer. Orders can only be transmitted to the Bank through the Bank’s Cash Management Internet Banking web site.

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PART VII: Jury Trial WaiverEACH OF YOU AGREES THAT YOU SHALL NOT (A) SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTER CLAIM, OR ANY OTHER ACTION BASED UPON, OR ARISING OUT OF, THIS AGREEMENT, ANY ACCOUNT, OR THE DEALINGS OR THE RELATIONSHIP BETWEEN OR AMONG YOU AND US, OR (B) SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS PARAGRAPH SHALL BE SUBJECT TO NO EXCEPTIONS. WE HAVE NOT AGREED WITH ANY OF YOU OR REPRESENTED TO ANY OF YOU THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES. EACH OF YOU ACKNOWLEDGES THAT THIS WAIVER MAY DEPRIVE YOU OF AN IMPORTANT RIGHT AND THAT THIS WAIVER HAS BEEN KNOWINGLY AND VOLUNTARILY MADE.

PART VIII: Funds Availability InformationOur policy is to delay the availability of funds that you deposit in your Account. During the delay, you may not withdraw the funds in cash and we do not have to use the funds to pay checks that you have written or to honor other requested withdrawals or debits from your Account.

1. Determining the Availability of a Deposit:

The length of the delay is counted in “Business Days” from the day of your deposit. Every day is a “Business Day” except Saturdays, Sundays, and Federal holidays. If you make a deposit through our Automated Teller Machine before 3:00 p.m. on a Business Day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit through our Automated Teller Machine after 3:00 p.m. or on a day that we are not open, we will consider that the deposit was made on the next “Business Day” that we are open. If you make a deposit in person at one of our branches to one of our employees any time on a “Business Day” that we are open, we will consider that day to be the day of your deposit. If you make a deposit by any other means, (for example, if you mail the deposit or use night deposit services) the “Business Day” that we are open on which we receive the deposit will be the day of deposit.

The length of the delay varies depending on the type of deposit and is explained below.

Same-Day Availability: Funds from the following deposits are generally available on the day we receive the deposit:

• Cash

• Wire Transfers and Electronic Direct Deposits to your Account

Next Day Availability: Funds from deposits are generally available on the first “Business Day” after the day of your deposit.

• Checks drawn on Liberty Bank

• U.S. Treasury Checks that are payable to the Business in whose name the Account is titled

• Connecticut State and local government checks that are payable to the Business in whose name the Account is titled

• Cashier’s, certified, and teller’s checks that are payable to the Business in whose name the Account is titled

• Federal Reserve Bank checks, Federal Home Loan Bank checks, and U.S. Postal Service money orders, if these items are payable to the Business in whose name the Account is titled

2. Longer Delays May Apply:

A. During the first 30 calendar days of a new customer’s new Account, a five business day hold may be placed for any and all checks deposited into this new Account. A Notice of Delayed Availability will not be provided at the time of the deposit.

B. Funds you deposit by check may be delayed for a longer period of time under the following circumstances:

• We believe that a check you deposit will not be paid.

• You deposit checks totaling more than $5,525 on any one day.

• We/You redeposit a check that has been returned unpaid.

• You have overdrawn your Account repeatedly in the last six months.

• There is an emergency, such as failure of communications or computer equipment.

C. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than six “Business Days” after the day of your deposit.

If we accept for deposit a check that is drawn on another Bank, we may make funds from the deposit available for with-drawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another Account with us. The funds in the other Account would then not be available for withdrawal until the time periods that are described elsewhere in this Funds Availability Information for the type of check that you deposited.

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PART IX: Important InformationAs you may know, the Federal Government has requested the assistance of banks and other financial institutions in the fight to prevent the funding of terrorism and money laundering activities. Section 326 of the USA Patriot Act now require all financial institutions to obtain, verify and record information that identifies each individual or business who opens an Account.

What does this mean for you? Simply, when you open a new Account (deposit or loan) at Liberty Bank, you will be asked to provide your name, physical address, mailing address, date of birth, and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents. For a commercial relationship, we will request specific documents that will allow us to identify the business entity.

Additionally, FinCEN has adopted a “two pronged” approach to beneficial ownership. The ownership prong includes all natural persons with 25% or more direct or indirect equity interest in a legal entity while the control prong is a single individual with sig-nificant managerial responsibility (control, manage or direct) over the legal entity. We will require the name, physical address, date of birth, tax identification number, driver’s license or other identifying documents, for each person.

PART X: Compliance with Laws, Rules, and RegulationsYou agree to comply with all laws, rules, and regulations applicable to you, to your activities and to your use of our services. This includes your agreement to comply with (to the extent applicable to you and your actions) Federal anti-money laundering laws, sanctions laws administered by the Office of Foreign Assets Control, currency transaction or Bank Secrecy Act reporting and recordkeeping requirements, and any state counterpart of the same. You must inform us about and disclose to us the identity of all persons who have a beneficial interest in your transactions or in your organization if you are an entity.

You represent and warrant that you will not use, and agree not to use, your Account or any service we provide to you for any unlaw-ful purpose. For example, you represent, warrant and agree not to accept or make payments in connection with the participation of any person (including yourself) in unlawful Internet gambling. You acknowledge that “restricted transactions” (as defined in the Unlawful Internet Gambling Enforcement Act and its implementing regulations) are prohibited from being processed through your Accounts or your relationships with us. Restricted transactions involve the collection of Internet bets or wagers for business-es engaged in Internet gambling transactions (e.g., online gambling casinos) that are made by persons participating in unlawful Internet gambling transactions. For instance, we are prohibited from processing any transactions by check, credit or debit card, electronic funds transfer, wire transfer or similar device for credit to a commercial Account if the transactions involved the receipt of any unlawful bet or wager made through the Internet. A bet or wager is unlawful if it violates any applicable Federal or State law in the State of Tribal lands in which the bet or wager is initiated, received or otherwise made. We reserve the right to deny transactions or authorizations from merchants apparently engaging in the Internet gambling business or identifying themselves through card transaction records or otherwise as engaged in that or any other illegal or improper business. Further, we reserve the right to block or close any Account which we believe may be involved in any such restricted transactions.

You covenant, and represent and warrant that the foregoing is true and correct, as of the opening of your Account and again each time you make a deposit or withdrawal or otherwise use a service offered by us. You agree to provide us with evidence showing that you are in compliance with the above, reasonably satisfactory to us, upon our request. We may close your Account for any reason, including, but not limited to, your failure to comply with the above referenced laws, rules, and/or regulations or should you fail to comply with our requests to provide information or cease such activity.

Part XI: Cash Reporting RequirementThe Bank Secrecy Act (“BSA”), a Federal law, requires all financial institutions to report currency transactions of more than $10,000 to the Financial Crimes Enforcement Network (“FinCEN”). In addition, we may report to FinCEN multiple cash transac-tions which together total more than $10,000 in any one day. In order to better comply with the law, we may maintain a log of all sales of Bank checks or drafts, Cashier’s Checks, or money orders purchased with $3,000 - $10,000 in currency. We may also report to FinCEN or other government agencies transactions that may be structured to avoid the reporting requirement and other transactions that appear to involve illegal activity. In order to satisfy the BSA’s requirement, we may, and, in many cases, must request certain information about the individual presenting the transaction, as well as the organization or individual for whom the transaction is being conducted. This includes the individual’s/organization’s full name, permanent street address, social security number, identification number (such as a driver’s license or passport), date of birth (if applicable), and business, occupation or profession. We may close your Account for any reason, including, but not limited to, your failure to comply with above referenced laws, rules, and/or regulations or should you fail to comply with our requests to provide information or cease such activity.

Account Monitoring: As part of its regulatory obligations pursuant to the Bank Secrecy Act and Federal anti-money laun-dering laws Liberty Bank regularly monitors customer transactions and Account activity in an effort to identify irregularities that may indicate fraud attempts against Accounts and/or unlawful/prohibited transactions. If we identify suspicious activity, a Liberty Bank employee may contact you to confirm the validity of a transaction, or to address certain types of transactions.

In connection with your Account, we may further ask you for specific information regarding the nature of activity, the sources of your funds, the purposes of transactions, the relationship you have with persons to whom you send funds and persons who

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Business Deposit Account Agreement send funds to you, the anticipated frequency of such transactions, the ultimate beneficiaries of funds you send and receive, and other questions that may help us clarify the nature and purpose of transactions. Liberty Bank may close your Account if we are unable to understand the purpose of the Account, the structure of the organization, the authority of the signers, the docu-mentation provided or the general risk associated with the establishment or maintenance of the Account. We may elect not to disclose the specific reason for our action, and in certain instances, Liberty Bank may be legally prohibited from disclosing the specific reason for such actions.

Closing the Account: You can close the Account at any time. We may require five (5) Business Days’ advance written notice. At our sole discretion, and as set forth herein, we reserve the right to close your Account at any time without advance notice, even if you do not ask us to. We will try to give you reasonable notice taking into account the circumstances. Even if you or we close the Account, you will remain responsible to us for all amounts owed under or in connection with this Agreement or the Account.

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Business Deposit Account Schedule of Fees and Charges Charge Title Details of Charge ChargeACH Transactions Incoming �(only�applicable�to�the�Commercial�Checking�Account)

Originated ACH Transactions Per month

$0.10

$25.00

Bank Check Certified Money Order Official (fee�waived�for�IOLTA/IORETA�Accounts)

Per check Per check Per check

$20.00 $3.00 $5.00

Check Printing Price varies depending on number of checks ordered and style selected

Varies

Checkbook Cover Price varies depending on style selected VariesCollection Services Incoming/Outgoing – per item $35.00CPA Confirmation Per Account inquiry $6.00Foreign Check Immediate credit – per check $5.50Foreign Check Price varies based on country of origin VariesLegal Notice Levies, Garnishments, Tax Warrants $50.00Lost Bank Article Debit Card – per card

Certificate$10.00$10.00

Monthly Reserve Requirements (only�applicable�to�the�Commercial�Checking�Account)

Per $1,000 gross balance 010.00%

OD Protection Tran Fee (limited�to�one�fee�per�day) Per transaction $8.00Overdraft Item/Insufficient Uncollected Funds(Fee�waived�if�transaction�causes�your�Account�to�be�overdrawn�by�$5.00�or�less.)

Paid or Returned (check or electronic) $35.00

Paper Statement Fee (waived�for�IOLTA/IORETA�Accounts) Per Statement $2.00Research Request Per hour/1 hr. minimum $10.00 deposit required $20.00

Returned Check Per deposited item $15.00Sheriff Execution Per item $8.00Stop Payment Order $25.00Stop Payment ACH $25.00Wire Transfer Outgoing Domestic

Incoming Domestic

Outgoing Foreign

Incoming Foreign

Initiated online Initiated via Branch

Per transfer

Initiated online Initiated via Branch

Per transfer

$8.00 $20.00

$10.00

$10.00 $45.00

$10.00Coin & Currency

Charge Title Details of Charge ChargeDeposits Per strap

Per coin bagPer envelope

$1.00$1.85$1.50

Shipments Per shipmentPer strapPer coin roll

$25.00$0.35$0.05

Deposit Bag LockingZipper

$18.00$5.00

BRO023��EFFECTIVE:�MARCH�1,�2020�� MEMBER�FDIC��EQUAL�HOUSING�LENDER��

ATM & Debit Card

Charge Title Details of Charge ChargeCross Border Assessment (For internation-al transaction transactions with amount MasterCard Debit Card or ATM Card)

Per transaction 3% of transaction amount

Non U.S. ATM Withdrawal (Fees charged by other banks)(Fee�will�be�included�in�transaction�amount�as�one�item.Withdrawals�from�an�ATM�in�a�foreign�country�may�be�subject�to�a�conversion�fee.)

Price varies based on country of origin varies

Non Liberty ATM(This�fee�is�waived�for�PayBack�Business�checking�customers.�Other�banks�may�charge�non-customers�an�ATM�surcharge.)

Non-Liberty Bank ATM –per transaction, inquiry, transfer or withdrawal

$ 1.50

Point of Sale�(This�fee�is�waived�for�PayBack�Business�checking�customers.�Other�banks�may�charge�non-customers�an�ATM�surcharge.)

POS Withdrawal (ELN)

Per transaction $0.35

Overdraft Item (Fee�waived�if�transaction�causes�your�account�to�be�overdrawn�by�$5.00�or�less.)

Per transaction $35.00

Business CheckingAddendum to the Liberty Bank

Business Deposit Account AgreementEffective: January 2, 2020

MEMBER FDIC EQUAL HOUSING LENDER

The items below outline changes to the Business Deposit Account Agreement.

To ensure timely payment of your $100 incentive for opening Business Checking, please be aware of the following:

y Offer ends 12/31/2020, is subject to change, may be withdrawn any time, may not be combined with other offers, and may be subject to 1099 reporting.

y Existing Liberty Bank business checking customers ineligible. y You may not have had a business checking account within the past 365 days. y $100 credited 30-45 days after open date. y $25 minimum to open. No minimum balance required to obtain incentive.

everything you need to know about your new business account...4 business deposit account agreement...

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