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California Privacy

Effective Date: June 6, 2023

This Exhibit supplements the Agreement and includes additional information required by the California Consumer Privacy Act (Cal. Civ. Code §§ 1798.100 et seq.) as amended by the California Privacy Rights Act (“CCPA”) as updated, amended or replaced from time to time. Any terms not defined in this Exhibit will have the meanings set out in the Agreement.

  1. Definitions.
    1. For purposes of this Exhibit the terms “Business,” “Business Purpose,” “Commercial Purpose,” “Consumer,” “Personal Information,” “Processing,” “Sell,” “Service Provider,” “Share,” and “Verifiable Consumer Request” will have the meanings set out in the CCPA. “Customer Personal Information” means Personal Information contained in the Customer Data.
  2. Obligations.
    1. With respect to Customer Personal Information, Modern Treasury is a Service Provider for the purposes of the CCPA (to the extent it applies) and Modern Treasury is receiving Customer Personal Information from Customer in order to provide the Products pursuant to the Agreement, which constitutes a Business Purpose.
    2. Customer will disclose Customer Personal Information to Modern Treasury only for the following limited and specified purposes:
      1. Nature and Purpose of Processing: Modern Treasury will process Customer Personal Information as necessary to provide the Products under the Agreement, for the purposes specified in the Agreement, and in accordance with Customer’s instructions as set out in the Agreement.
      2. Duration of Processing: Modern Treasury will process Customer Personal Information as long as required (i) to provide the Products or as permitted under the Agreement; (ii) for Modern Treasury’s legitimate business needs or (iii) by Laws.
      3. Categories of Consumers: Customer’s end users, customers, counterparties and/or personnel.
      4. Categories of Personal Information: Categories of Customer Personal Information include name and location, email address, phone number, address, occupation, and title and data relating to payments, bank accounts and transactions.
    3. Modern Treasury will not Sell or Share Customer Personal Information under the Agreement.
    4. Modern Treasury will not retain, use, or disclose Customer Personal Information pursuant to the Agreement outside of the direct business relationship with Customer or for any purpose, including a Commercial Purpose, other than as necessary for the specific purpose of providing the Products for Customer pursuant to the Agreement, or as otherwise set out in the Agreement or as permitted by the CCPA.
    5. Modern Treasury will notify Customer if Modern Treasury makes a determination that it can no longer meet its obligations under the CCPA.
    6. Modern Treasury will comply with all obligations applicable to Service Providers under the CCPA, including by providing Customer Personal Information the level of privacy protection required by the CCPA.
    7. Modern Treasury will not combine Customer Personal Information received from, or on behalf of, Modern Treasury with other Personal Information except to the extent a Service Provider is permitted to do so under the CCPA.
    8. Customer will promptly notify Modern Treasury upon receipt of any consumer request made pursuant to the CCPA that requires Modern Treasury to take any action with respect to a consumer’s Personal Information contained within the Customer Personal Information.
    9. Customer may, upon written notice to Modern Treasury, (1) take such reasonable and appropriate steps as may be necessary to ensure that Modern Treasury’s collection and use of Customer Personal Information is consistent with requirements under the CCPA, and (2) take reasonable and appropriate steps to stop and remediate any unauthorized use of Customer Personal Information by Modern Treasury. Any measures implemented by Customer under this Section (i) will be limited to Customer Personal Information relevant to Customer.

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