CIBC Overdraft Protection Service Addendum (10797-2019/07)

10797-2019/ 07 Page 1 of 2

CIBC Overdraft Protection Service Addendum

1. Basic t erms and definit ions.

This Addendum is part of t he CIBC Personal Account Agreement t hat applies t o you, and is not a separat e agreement . This Addendum will remain in ef f ect unt il it is t erminat ed by eit her you or CIBC in accordance wit h paragraph 10 below.

If CIBC approves you f or t he Service, you will be bound by t his Addendum f or each Account f or which t he Service is approved by CIBC f rom t ime t o t ime and you may use t he Service f or each approved Account as f ollows:

a) if you apply f or t he Service in person at a CIBC branch, you can use t he Service immediat ely if and when CIBC approves t he Service f or your Account ; or

b) if you apply f or t he Service online or t hrough t elephone banking, you can use t he Service 48 hours af t er you apply if and when CIBC approves your Account f or t he Service.

If more t han one person is approved f or t he Service, t hen each person is individually liable (severally), and all such persons are j oint ly liable (in Quebec, all such persons are solidarily liable), f or t he payment of Indebt edness and t he perf ormance of all ot her obligat ions required of you under t his Addendum. Unless t he cont ext requires ot herwise, words appearing in t his Addendum in t he singular number will include t he plural number, and vice versa. The f ollowing words and phrases have a special meaning:

"Account Wi t hdr awal " means a debit t o an Account by any means permit t ed by CIBC f rom t ime t o t ime, including but not limit ed t o, wit hdrawals in- branch or by bank machine; t ransf ers bet ween account s (e. g. in-branch, t hrough Telephone Banking or Online Banking or by bank machine); pre- aut horized debit s/ payment s and cheques; debit payment s; bill payment s f rom an Account (e. g. in-branch, t hrough Telephone Banking or Online Banking or by bank machine); and f ees. "Account " means each account at CIBC or a CIBC af f iliat e f or which you are approved f or t he Service by CIBC f rom t ime t o t ime; "Addendum" means t his CIBC Overdraf t Prot ect ion Service Addendum, which is part of t he CIBC Personal Account Agreement t hat applies t o you; "Business Day" means a day f rom Monday t o Friday, on which CIBC branches are open f or business in your province of residence; "CIBC" means Canadian Imperial Bank of Commerce; "CIBC Over dr af t Pr ot ect i on Ser vi ce" or t he "Ser vi ce" means t his overdraf t prot ect ion service; "Indebt edness" means t he t ot al amount overdrawn at any point in t ime in all Account s, including, but not rest rict ed t o, t he amount you have drawn on each Account , accruing int erest on t hat amount , and int erest and f ees debit ed t o t he Account t o t he ext ent such draws, int erest and f ees creat e or increase an overdraf t in t he Account ; "Onl ine Banki ng" means t he CIBC banking services available by Int ernet ; "Over dr af t Limi t " means t he overdraf t limit approved by CIBC f or each Account , but if you have t he Service on more t han one Account , it means t he overdraf t limit approved by CIBC f or each separat e Account as well as t he single t ot al overdraf t limit approved by CIBC f or all your Account s collect ively. "Tel ephone Banking" means t he CIBC banking services available by t elephone; and "You" and "your " ref er t o each person who applies f or t he Service by signing t he at t ached applicat ion (t he "Appl i cat i on");

2. Creation of overdrafts. You are ent it led t o overdraw your Account f rom t ime t o t ime in accordance wit h t he t erms of t his Addendum. A j oint Account may be overdrawn by t he account holder(s) specif ied on t he Applicat ion.

3. Repayment of Indebtedness. You will pay all Indebt edness on demand by CIBC. At least once every 90 days, you must make deposit s suf f icient t o bring your Account int o a posit ive balance f or at least one f ull Business Day. The dat e on which you are requir ed t o bring your Account int o a posit ive balance is ident if ied on your st at ement as t he "Overdraf t balance due by". Deposit s t o your Account are t reat ed as repayment s of Indebt edness. You can use t he Service t o pay of f ot her debt s, but you cannot move your debt s around (whet her wi t h CIBC or loans you may have f rom anot her lender). You will not use t he Service t o repay Indebt edness. In ot her words, you will not at t empt t o sat isf y your obligat ion t o repay Indebt edness by t aking an Account Wit hdrawal on one Account and t ransf erring t he amount wit hdrawn int o anot her Account .

4. Interest and fees.

a) CIBC pr ovi des t wo over dr af t f ee opt i ons*:

i. Monthly Fixed Fee. A f ixed f ee of $4. 00 t hat is applied t o t he Account at mont h end regardless of ut ilizat ion of t he overdraf t ; or

ii. Pay Per Use Fee (not applicable in Quebec). A $5. 00 f ee t hat is applied t o t he Account f or any business day in which an overdraf t is creat ed or increased. There is no charge unless you use t he Service.

*Overdraf t f ees are charged t o your Account if your Account is overdrawn f or any reason (including as a result of wit hdrawals, paying cheques, t he charging of service f ees, or ot herwise). CIBC does not provide t he Pay Per Use Fee opt ion in Quebec. If you reside out side of Quebec, you should select t he overdraf t f ee opt ion t hat best suit s your needs, and you can change t he overdraf t f ee opt ion at anyt i me, t hrough your CIBC Branch, Telephone Banking or CIBC Online Banking. The overdraf t f ee opt ion you select will t ake ef f ect as of t he f ollowing business day. Overdraf t f ees f or t he mont h in which a change is request ed by you will be applied based on t he great er of , any Pay Per Use f ees or t he Mont hly Fixed Fee f or t hat mont h. All f ees relat ing t o t he Service are f or t he availabilit y of t he Service f or each year commencing wit h t he dat e t hat t he Service begins.

b) Int erest . For each calendar mont h in which an Account is overdrawn, you will pay CIBC int erest on t he Indebt edness, current ly 21%per year. Int erest will be calculat ed and debit ed mont hly t o t he Account t o which it relat es, based on t he f inal daily indebt edness in t he Account t hroughout t he calendar mont h. The rat e of int erest you will pay is t he nominal annual int erest rat e set by CIBC f rom t ime t o t ime in accordance wit h paragraph 7. Int erest at t he rat e set by CIBC will apply bot h bef ore and af t er t he indebt edness becomes payable, bef ore and af t er t his Addendum is t erminat ed, and bef ore and af t er j udgment is obt ained against you. Even in a leap year, int erest will be calculat ed by mult iplying t he t hen-out st anding principal amount by t he current int erest rat e in ef f ect at t he applicable t ime, dividing t he t ot al amount by 365 and mult iplying t he result by t he number of days in t he payment period during which t he amount is out st anding.

c) Over Limit Fee. If CIBC chooses t o process a debit which result s in your exceeding your Overdraf t Limit (based on end of day balances), you will pay CIBC an over limit f ee of $5. 00 plus int erest on t he Indebt edness, current ly 21%per year, calculat ed in accordance wit h paragraph 4 (b). This charge is in addit ion t o t he f ees you pay under paragraph 4(a). We will only charge you amount s under t his Addendum t hat are permissible by law. Over Limit Fee not applicable t o Quebec resident s.

d) Ot her Char ges. You aut horize CIBC t o debit t o any Account CIBC's st andard charge f or processing your Applicat ion and any ot her f ees est ablished by CIBC f rom t ime t o t ime, af t er CIBC not if ies you in accordance wit h paragraph 7.

10797-2019/ 07 Page 2 of 2

CIBC Overdraft Protection Service Addendum

5. Overdraft limit. CIBC has set an Overdraf t Limit f or your Account (or each Account , if t he Service applies t o more t han one Account ). You will not make an Account Wit hdrawal which would cause your Overdraf t Limit t o be exceeded. CIBC has absolut ely no obligat ion t o pay an Account Wit hdrawal t hat would cause your Indebt edness t o exceed your Overdraf t Limit or t o be f urt her exceeded, if CIBC has allowed t he Overdraf t Limit t o be exceeded already; CIBC may, if it so decides, simply ret urn t he Account Wit hdrawal unpaid. If CIBC should choose t o allow one or more such Account Wit hdrawals, it has no obligat ion t o do so again, at any t ime in t he f ut ure. Should CIBC choose t o allow t he Indebt edness t o exceed t he Overdraf t Limit , t he overdraf t t erms in t he CIBC Personal Account Agreement will apply t o t he port ion of t he Indebt edness t hat exceeds t he Overdraf t Limit . In ot her words, t he f ees t hat apply when t here is no Service will apply t o t he Account Wit hdrawals t hat exceed t he Overdraf t Limit ; int erest at t he int erest rat e t hat applies when t here is no Service will apply on t he port ion of Indebt edness which exceeds t he Overdraf t Limit ; and, you must repay t hat port ion in accordance wit h t he t erms of t he CIBC Personal Account Agreement .

6. Breach and termination of Addendum. CIBC may, in it s discret ion, suspend your access t o t he Service or t erminat e t his Addendum wit hout not ice t o you and ref use t o pay any more Account Wit hdrawals, including Account Wit hdrawals you made/ issued/ aut horized bef ore t he Addendum is t erminat ed. CIBC may t ake t his act ion if you f ail t o comply wit h t he t erms of t his Agreement or f or any ot her reason, in CIBC's sole discret ion. If t his Addendum is t erminat ed, CIBC will give you not ice of such t erminat ion and you must immediat ely repay all Indebt edness t o CIBC, wit hout demand. If you do not repay t he Indebt edness as required under t his Addendum or any ot her amount you owe CIBC when it is due (whet her owed under t his Addendum or some ot her agreement you have wit h CIBC), you agree t hat CIBC may, wit hout not ice and at it s sole discret ion, convert your Indebt edness t o a demand loan, payable by you on t he t erms and condit ions CIBC will provide. Upon conversion of your Indebt edness t o a loan, CIBC will immediat ely cancel t he Service. This conversion will t ake ef f ect immediat ely and you hereby waive any right you may have t o receive prior not ice of t he conversion. You acknowledge t hat CIBC will, upon conversion of your Indebt edness t o a loan, report your def ault t o credit bureaus as a f ully delinquent loan. CIBC may, in it s sole discret ion, direct a t hird part y t o collect all Indebt edness you owe t o CIBC or assign your Indebt edness t o a t hird part y f or collect ion.

7. Changes to this Addendum, the interest rate or fees. CIBC is ent it led t o change t he Addendum or t he Service, including changing your Overdraf t Limit , t he int erest rat e and t he f ees which apply t o t he Service f or any reason at any t ime, wit hout your permission. Any change will apply t o Indebt edness exist ing on t he dat e t he change is ef f ect ive and t o Indebt edness arising af t er t hat dat e. Changes t o your Overdraf t Limit are ef f ect ive when not ice is mailed or sent t o you or on any dat e set out in t he not ice.

Changes t o f ees and charges will be post ed at CIBC branches, mailed or sent t o you, or made available by any ot her met hod all owed by law, at least t hirt y days bef ore t he change is ef f ect ive. All ot her changes t o t his Addendum or t he Service (including changes t o t he int erest rat e) are ef f ect ive at least t hirt y days af t er t he not ice of t he change is post ed at CIBC branches, mailed or sent t o you, or made available by any ot her met hod allowed by law, or on any dat e set out in t he not ice.

All not ices which are mailed t o you will be mailed t o your address on t he Applicat ion or any ot her address CIBC has in connect ion wit h any Account . If more t han one account holder signs t he Applicat ion, t hen you aut horize CIBC t o mail or send t he not ice t o only one account holder.

8. Non-residents. You will advise CIBC if you cease t o be a Canadian resident . CIBC may t hen, in it s sole discret ion, immediat ely t erminat e t his Addendum and require you t o pay CIBC all amount s which you may owe under t his Addendum, f ree and clear of all applicable t axes and wit hholdings.

9. Miscellaneous. Your obligat ions in sect ions 3, 4, 5, 6 and 7 of t his Addendum will survive (cont inue t o be in ef f ect af t er) t he t erminat ion of t his Addendum. If any t erm of t he CIBC Personal Account Agreement conf lict s wit h a t erm in t his Addendum, t he t erm in t his Addendum applies t o t he ext ent necessary t o resolve t he conf lict . This Addendum shall be governed by and const rued in accordance wit h t he laws where t he applicable CIBC branch/ cent re is locat ed and t he laws of Canada.

10. Cancellation of Service. You may cancel t he Service only af t er you f ully repay all Indebt edness owing t o CIBC plus any charges (including int erest ) t hat have arisen t o t hat t ime but have not been delivered t o your Account . Please call 1-800-465-2422 t o request cancellat ion. Once CIBC processes your cancellat ion request , you will no longer be able t o use t he Service, but you remain bound by t he Personal Account Agreement in respect of your Account (s). Cancellat ion of your Service will be ef f ect ive as of t he earlier of : (i) t he last day of t he billing cycle; or (ii) 30 days af t er t he not ice of cancellat ion is received by CIBC. Once cancellat ion of your Service is ef f ect ive, CIBC wi ll ref und or credit your Account f or t he amount of any charges you have paid f or any part of t he Service t hat is unused, if any, as of t he day t he cancellat ion t akes ef f ect t o be calculat ed as f ollows:

A x (B-C)/ B

Where

A is t he amount of t he charges;

B is t he period bet ween imposit ion of t he charges and t he t ime when t he services were, bef ore t he cancellat ion, scheduled t o t he

end; and C is t he period bet ween t he imposit ion of t he charges and t he cancellat ion.

You agree t o be bound by t he above CIBC Overdraf t Prot ect ion Service Addendum (signat ure only required f or Quebec resident s).

Dat e

Applicant 's Signat ure

Joint Applicant 'sSignat ure

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