Agenda Item 10.2 - PSN Service Agreement

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PAYMENT SERVICE NETWORK, INC. SERVICE AGREEMENT SCHEDULE "B" continued Fee Schedule Account Holder's designated depository account(s} shall mean any and all depository accounts which Account Holder has designated in a writing delivered to PSN for PSN to make deposits of payments made by Account Holder's Customers/Payees. Account Hoider may only change designated depository account(s) upon not less than fifteen (15) days prior written notice to PSN, provided that Account Holder completes and timely delivers to PSN all forms required by PSN to complete the change in designated depository account(s). Account Holder agrees to pay the 5etup/Equipment Fees set forth in this Schedule B upon execution of this Agreement. Account Hoider agrees to pay Monthly Fees set forth in this Schedule B on or about the first day oF each month. All such Setup/Equipment and Monthly Fees are non-refundable and will be automaticaily withdrawn by PSN via auto debit from the Account Holder's designated depository account(s) as set up with PSN. Account Holder agrees to pay Transaction Fees and Other Fees as designated in Schedule B. PSN shall auto-debit from Account Holder's depository account(s► on or around the first of every month the total of all Transaction Fees and Other Fees incurred during the immediately preceding month which were deposited into the Account Holder's depository account. PSN will endeavor to have r.ustomer payments deposited into Account Holder's designated account or accounts within three (3) banking days of payment, however, Account Holder acknowledges that it may take up to five (5) banking days to complete such deposits due to bank notification times and different deposit frequencies from the credit card processors to PSN. A"banking day" is a day of the week on which a bank or financial institution is open to the public for carrying on all of its banking functions (i.e., Monday through Friday, excluding Saturday, Sunday and legal holidaysj. P5N acknowledges and agrees that a�l amounts received from Customers less per item Transaction Fees collected by PSN, and less any Monthly Fees and Other Fees owed by Account Holder, will be the property of the Account Holder and PSN will have no right to retain such amounts for any reason, including, without limitation, pursuant to any rules of bankruptcy or insolvency. PSN will function as a repository for the net funds and not as owner of the net funds at any time (other than the Fees owed to PSN). PSN's failure to auto-debit any Setup/Equipment Fees, Monthly Fees, Transaction Fees or Other Fees ("Unpaid Fees") does not forfeit PSN's right to collect such Unpaid Fees from Account Holder at a later date, and Account Holder agrees to pay such Unpaid Fees to PSN. ACCOUNT HOLDER: Signature: Date: Print Name: Title: ftio�e: 3a�k interciiange rates are subject to change; therefore, thFs quote is vafid for 15 days from a�ate �f issue. 10 Paymeni Servic� Network, Inc. � 2901 International Lane, Madison WI 531Q4 � www.PaymentServiceNetwork.com