Account Holder Agreement

This document constitutes the agreement (“Agreement”) between you and Four Oaks Bank & Trust Company (“Four Oaks,” “we,” or “us”) outlining the terms and conditions under which the Giftly Account (“Account” or “Special Purpose Account”) will be opened in your name and its relationship to GoLocal Inc. (“GoLocal”, “Giftly”). By opening this Account, you agree to be bound by the terms and conditions contained in this Agreement.

We may amend this Agreement at any time by posting a revised version on the Giftly website(s), www.giftly.com (“Revised Agreement”). The Revised Agreement will be effective at the time we post it.

Opening a New Account

To help the government fight the funding of terrorism and money laundering activity, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means to you: When you open an account we may ask for your address, date of birth, social security number and/or other information that allows us to identify you.

By opening this Account, you represent and warrant to us that: (1) you are at least 18 years of age (or 19 if you reside in a state where the age of majority is 19 years old) and (2) you are a U.S. citizen or legal alien residing in one of the fifty (50) states, the District of Columbia or Puerto Rico.

Your Giftly Account

A Special Purpose Account will be established for the purpose of holding funds and maintained until: (i) the funds are delivered to the beneficiary you name; (ii) the funds are returned to you; or (iii) your account becomes dormant with a zero balance in accordance with the Giftly Terms of Service. Your Special Purpose Account is a limited purpose account and will not bear interest. You can make electronic fund transfers to and from your Special Purpose Account only as provided in this Account Agreement. You may not write checks against it or make in-person withdrawals at our offices or other locations. You may at any time direct that your Special Purpose Account be closed and that any funds remaining in your Special Purpose Account, after the deduction of any accrued fees or payments, be returned to you. You may not use your Special Purpose Account for any illegal purpose or in connection with internet gambling transactions.

You designate Giftly as your agent for purposes of providing funds transfer and disbursement instructions to us in accordance with this agreement and the Giftly Terms of Service. We may act upon the instructions provided by Giftly, without inquiry, as though such instructions came directly from you. You authorize us to provide information about your Account to Giftly to make payment(s) in the specific amount directed by you or Giftly.

Beneficiary Information

You will be required to name a beneficiary for your Account (the “Recipient”) in order to designate who will receive the funds held in your Account ( the “Funds”). Once the Recipient has performed the required obligations in accordance with the rules applicable to the Giftly program, we will transfer some or all of your Funds to an account pre-designated by the Recipient.

Features of the Account

• Account Activation. Your Account will be activated when you transfer funds into it in accordance with the rules applicable to the Giftly program.




• Account Limits. We may, at our discretion, impose limits on the amount of money you can send through your Account. The maximum amount that can be sent from your Account is $999.99.




• Payment Method. You may open your Account by using any form of payment acceptable to us to fund your Account.




• Transfers. You authorize us to make electronic transfers via automated clearing house debit (ACH) from your account for the purpose of transferring funds per your instruction subject to any rules applicable to the Giftly Terms of Service. Your agreement to this contract constitutes your authorization to us to make these transfers. Once the authorization for the transfer has occurred, the electronic transfer cannot be cancelled. We are not required to monitor or question the instructions that we receive from you or Giftly. Other account transfer restrictions may be described elsewhere.




• Refused and Refunded Transactions. From time to time a Recipient may be unable to accept transferred funds, whether because (1) incorrect account information has been provided for the Recipient, or (2) for some other reason beyond our control. You agree that you will not hold us liable for any damages resulting from a Recipient’s inability to accept funds transferred by us. Any unclaimed, refunded or denied Funds will be returned to your Account and continue to be subject to the rules of the Giftly program.>




• Accuracy of Information. You are responsible for confirming the accuracy of the information you provide each time you open an Account including the recipient’s name, email address, telephone number, Facebook user id, or other identifying information and the amount of the transaction.




• Giftly Mobile. If Giftly allows you to access certain Giftly program-related services through your mobile phone (“Giftly Mobile”). By your use of Giftly Mobile, you agree to be responsible for any fees that your phone service provider charges, such as fees for SMS, data services and any other fees that your phone service provider may charge.




• Dormancy and Inactive Account Closure. At our discretion, your account may be closed if it is deemed inactive. For the purposes of this agreement inactive shall be defined as three (3) or more months of zero balance AND no account activity.

Timely Review of Account Balance

You are responsible for keeping track of your Account’s available balance. Statements of transactional history in electronic format will be made available to you free of charge at www.giftly.com/my-giftlys. You agree to notify us promptly of any erroneous, improper or unauthorized transactions involving your Account funds. You agree that in no event will our agents or we be liable for special, incidental, consequential, exemplary or punitive damages unless applicable law provides otherwise. Unless otherwise required by law, an action or proceeding by you to enforce an obligation, duty or right arising under this agreement or by law with respect to your Account funds or the Transfer Service must be commenced no later than one (1) year after the day the cause of action accrues.

Termination and Assignment

We may close this Account at any time upon reasonable notice to you and tender the Account balance personally or by mail. Items presented for payment after the account is closed may not be honored. When you close your Account, you are responsible for leaving enough money in the Account to cover any outstanding items to be paid from the Account.

Reasonable notice depends on the circumstances and, in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or Account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your Account, we might immediately freeze or close your Account and then give you notice. You agree to keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you. If we have notified you of a change in any term of your account and you continue to have your Account after the effective date of the change, you have agreed to the new term(s).

You agree that we may at any time assign our rights and obligations under this Agreement to any assignee and in such event this Agreement will remain in full force. This Account may not be transferred or assigned by you without our prior written consent.

Entire Agreement

This Agreement sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to its subject matter and supersedes any prior or contemporaneous understandings or agreements with respect to their subject matter.

Severability

If any of the terms of this Agreement are invalid, or declared invalid by order of court, change in applicable law, or regulatory authority, the remaining terms of this Agreement shall not be affected and this Agreement shall be interpreted as if the invalid terms had not been included in this Agreement.

Governing Law and Jurisdiction

This Agreement will be governed by federal law and, to the extent federal law does not apply, by the laws of the State of North Carolina.

Conflicting or Unclear Instructions

If we receive conflicting instructions from you and Giftly, we will follow your instruction. If we are uncertain regarding the ownership of Special Purpose Account funds, your identity, or the authority of any person to give Special Purpose Account instructions, or if we believe that a Special Purpose Account transaction may be fraudulent or may violate any law, or if the instructions we receive appear, in our sole discretion, to be unclear in any way, we may: (i) freeze your Special Purpose Account and refuse any further transactions until we receive written proof, in form and substance satisfactory to us, of each person’s right and authority over the Special Purpose Account funds, (ii) refuse the transaction in question; (iii) require your signature for the transaction in question; (iv) request instruction from a court of competent jurisdiction; or (v) continue to honor previous instructions received from you (directly or through Giftly) pending confirmation or clarification. We are not obligated to assert such rights or to notify you or Giftly in advance of exercising such rights.

Unauthorized Transfers

Tell us at once if your statement shows transfers that you did not make by calling us at 1(800) 566-9669, or writing to us at 95 Minna Street, Floor 2, San Francisco CA 94105. If you do not tell us within 60 days after the first transfer, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Our Liability

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance, through no fault of ours, if you do not have enough money in your account to make the transfer or circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

Force Majeure

We shall not be liable for any loss, expense, failure to perform, or delay caused by failure of communication systems, accidents, strikes, fire, flood, war, riot, civil strife, terrorist attack, earthquake, power outage, funds transfer system or government rules, acts of third parties, or any cause that is beyond our reasonable control.

Call Monitoring and Recording

You authorize us to listen to and record telephone calls between you and us to evaluate the quality of our services or for any other lawful purpose.

Communicating With You; Consent to Contact by Electronic and Other Means

You agree that we may contact you as provided in this paragraph. We may contact you for any lawful reason, including for the collection of amounts owed to us and for the offering of products or services in compliance with our Privacy Policy in effect from time to time. No such contact will be deemed unsolicited. We may contact you at any address or telephone number (including wireless cellular telephone or ported landline telephone number) as you may provide to us from time to time. We may use any means of communication, including, but not limited to, postal mail, electronic mail, telephone or other technology, to reach you. You agree that we may use automatic dialing and announcing devices which may play recorded messages. We may also send text messages to your telephone. You may contact us at any time to ask that we not contact you using any one or more methods or technologies.

In Case of Errors or Questions About Your Electronic Transfers

Telephone us at 1(800) 566-9669, or write us at 95 Minna Street, Floor 2, San Francisco CA 94105 as soon as you can, if you think your account balance is wrong or if you need more information about a transfer listed on the account. We must hear from you no later than 60 days after the FIRST day on which the problem or error appeared in your account.

1. Tell us your name and account number (if any).




2. Describe the error or the transfer 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. If you tell us orally, we may require you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Consent to Electronic Disclosures

By electronically signing, you agree that we may provide all disclosures, statements, notices, privacy policies, and other communications related to the Account Agreement, the Transfer Service or your Account, including disclosures required by law (collectively, “Electronic Communications”) electronically. We will notify you when a new Electronic Communication has been posted on our website at www.giftly.com. When you receive the notification, you agree to promptly visit our website to view the Electronic Communication. You may log in to our website using the login and “Password” information you established at the time of purchase. “Password” means the security code and/or other method of authentication that you are provided to access Special Purpose Account information electronically. You agree not to disclose your Passcode to others and to keep it secure. You also agree that your use of your Passcode constitutes, and you intend it to constitute, your electronic or digital signature on any document or record where your signature is requested or required. By logging in to our website and using your Passcode, you demonstrate that you can access information that we post on our website.

Upon your request, we will send you a paper copy of any material provided electronically pursuant to this consent. There is no charge for initial paper copies. You have the right to withdraw consent but if you do, we may terminate the Account Agreement. To withdraw your consent to electronic disclosures, update your electronic mail address or request paper copies, contact Giftly, 95 Minna Street, Floor 2, San Francisco CA 94105.

To access and retain communications, you must meet at least the following requirements: (i) a personal computer or equivalent device capable of connecting to the Internet via dial-up, DSL, Cable Modem, Wireless Access Protocol, or equivalent, and that supports the following requirements; (ii) an Internet Browser that supports HTML 4.0 and SSL-encryption, such as Google Chrome 2.0 or later; and (iii) a means to print or store notices and information through your browser software. All communications in either electronic or paper format from us to you will be considered “in writing.” Please print or download a copy of any Electronic Communication that is important to you for your records.