These payment terms of service ("Payment Terms") constitute a legal agreement between you, Activehours, Inc., a Delaware corporation (“Activehours”), and CBW bank, a Kansas State Chartered Bank (“CBW”). These Payment Terms supplement Activehours’ Terms of Service governing your use of Activehours’ Service found at https://www.earnin.com/PrivacyAndTerms (the “Terms of Service”), which are incorporated here by reference. These Payment Terms specifically govern your use of our “Lightning Speed” services described below.

Definitions

Any reference to "Activehours" in this document includes its directors, officers, employees, contractors, owners, agents, licensors, or licensees. Any reference to "CBW Bank" in this document includes its directors, officers, employees, contractors, owners, agents, licensors, or licensees.

As used in these Payment Terms, the words "you" and "your" refer to you, the user of Activehours’s website, device, or applications, as the party agreeing to these Payment Terms.

The words "we", "us", "our" and any other variation thereof refer to Activehours and CBW Bank.

The term "Virtual Assets" refers to virtual assets such as accrued pay and benefits, rewards programs, etc.

The term “Lightning Speed” refers to the process by which you use the Activehours software platform to instruct CBW Bank to monetize and transfer Virtual Assets from Activehours to your bank account.

Acceptance of Agreement

PLEASE READ THESE PAYMENT TERMS CAREFULLY. YOU AGREE TO BE BOUND BY THE PAYMENT TERMS. IF YOU DO NOT WISH TO BE BOUND BY THESE PAYMENT TERMS, YOU MAY NOT USE Lightning Speed. You may not use Lightning Speed if (a) you are not of legal age to form a binding contract with CBW Bank and Activehours; (b) you are prohibited by law; or (c) you are not a U.S. resident.

Modification of Payment Terms

CBW Bank and Activehours may modify these Payment Terms from time to time. Any and all changes to these Payment Terms will be posted on the activehours.com site. The Payment Terms will always indicate the date it was last revised. When you use Lightning Speed after those changes are posted, you are deemed to have accepted the new Payment Terms and agree to be bound by any changes to the Payment Terms.

Privacy and your Personal Information

For information about CBW Bank and Activehours’s data protection practices, please read Activehours's Privacy Policy, which is hereby incorporated by reference into these Payment Terms and CBW Bank’s Privacy Policy. This policy explains how Activehours and CBW Bank treat your personal information when you use Lightning Speed. Activehours Privacy Policy may be updated from time to time at our discretion. Changes will be effective upon posting to the site.

Use of the Lightning Speed services

Activehours offers various tools and functions that can assess the value of Virtual Assets. Activehours also enables you to use that value for monetary transactions. Once you have assigned to Activehours the complete right, title and interest in those Virtual Assets, you can use Lightning Speed to facilitate the monetization and transfer of those Virtual Assets to your bank account. This process is accomplished through Activehours’ partnership with CBW Bank. Activehours provides the software platform and customer service for CBW Bank; CBW Bank processes the monetization of Virtual Assets for Activehours users.

When you use Lightning Speed, Activehours temporarily assigns to CBW Bank, the complete right, title and interest in your Virtual Assets during the brief period of time that the value of these Virtual Assets are transferred from Activehours to your bank account. You agree to sell and transfer to CBW Bank, all right, title and interest in and to those Virtual Assets for that period of time. Once the funds are delivered to your bank account, CBW assigns all right, title and interest in those Virtual Assets back to Activehours for collection.

You warrant that the Virtual Assets are just and due and that you have not received payment for the Virtual Assets or any part of the Virtual Assets. You further warrant that if you receive payment for an assigned Virtual Asset, including by your employer, you will transfer those payments, or permit those payments to be transferred, to CBW Bank or its assignee, Activehours.

As part of using Lightning Speed, you agree to the following:
  • You authorize Activehours to charge your bank account for all payments due to us.
  • You will maintain a balance that is sufficient to fund all payments to us that you initiate. Activehours reserves the right to charge your bank account at any time after a paycheck associated with Virtual Assets has been deposited into your account. Our failure to charge your bank account for Virtual Assets within a set amount of time does not constitute a waiver of our right to charge your account for such funds.
  • You represent and warrant that you have the right to authorize Activehours to charge your account for payments due to us under these Payment Terms and/or Activehours’ Terms of Service.
  • You will indemnify and hold CBW Bank and Activehours harmless from any claims by any other owner of your account.
If we are unable to access funds from your bank account to complete a payment that is owed to CBW Bank or Activehours, you agree that:
  • You will reimburse Activehours immediately, upon demand, the transaction amount to the extent that it was not collected by CBW Bank or its assignee, Activehours;
  • You will reimburse Activehours for any fees imposed on us as a result of the failed transaction; and
  • You will reimburse Activehours for any fees we incur in attempting to collect the amount of the failed transaction from you.

CBW Bank and Activehours are not responsible for any overdraft fees, over-the-limit fees, or insufficient fund charges (including finance charges, late fees, or similar charges) that result from your failure to maintain a balance or available credit in the bank account that is sufficient to fund all payments you initiate.

Account Information

Accurate records enable us to provide Lightning Speed to you. You must provide true, accurate, current, and complete information about your accounts maintained at Third Party Sites (“Account Information”), and you may not misrepresent any Account Information. In order for the Lightning Speed to function effectively, you must also keep your Account Information up to date and accurate. If you do not do this, the accuracy and effectiveness of Lightning Speed will be affected. You represent that you are a legal owner of, and that you are authorized to provide us with, all Account Information and other information necessary to facilitate your use of Lightning Speed.

In order to allow you to use Lightning Speed, we may be required to verify your identity. You consent to provide us with any information we may deem necessary to validate your identity. This may include asking you for further information, requiring you to provide a taxpayer identification number, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying information you provide against third party databases or through other sources. If you do not provide this information or we cannot verify your identity, we may refuse to allow you to use Lightning Speed.

Access to Lightning Speed

Your access and use of Lightning Speed may be interrupted from time to time for any of several reasons, including the malfunction of equipment, periodic updating, maintenance or repair of the Service, or other actions that Activehours, in its sole discretion, may elect to take. In no event will Activehours be liable to any party for any loss, cost, or damage that results from any period of downtime for Lightning Speed.

Modification of Lightning Speed and related services

CBW and Activehours reserve the right at any time, and from time to time, to modify or discontinue, temporarily or permanently, Lightning Speed with or without notice. We reserve the right to make changes to Lightning Speed, including applicable fees, in our sole discretion and from time to time. In such event, we will provide notice to you. If you do not agree to the changes after receiving a notice of the change, you may stop using Lightning Speed. Your continued use of Lightning Speed after you are notified of any change(s) will constitute your agreement to such change(s). You agree that Activehours shall not be liable to you or to any third party for any modification, suspensions, or discontinuance of Lightning Speed.

Miscellaneous

These Payment Terms, together with the Terms of Service and Privacy Policy, constitute the entire agreement between you and Activehours regarding your use of Lightning Speed. In the event of a conflict between these Payment Terms and the Terms of Service, these Payment Terms will govern.

February 19, 2015