Responsibility and Collection of fees addendum

Last edited January 26th, 2023

This Addendum (the "Addendum") is entered into by and between [Merchant's Name], referred to as the "Merchant," and WAAVE Inc, referred to as the "Company," collectively referred to as the "Parties," and forms an integral part of the existing agreement (the "Agreement") between the Parties.

1. Chargebacks and Associated Fees: The Merchant acknowledges and agrees that any chargebacks and fees associated with the Merchant's sales on the WAAVE network shall be the sole responsibility of the Merchant.

2. Maintenance of Funded Checking Account: The Merchant agrees to maintain a funded and functional checking account on file with the Company. This checking account shall be utilized for payouts and any debits arising from the Merchant's operations. Additionally, the Merchant shall provide a backup payment method, such as a credit or debit card, to ensure continuous payment processing.

3. Authorization for Debit and Credit: The Merchant hereby authorizes the Company to debit and credit the bank account on file as necessary to maintain operations and fulfill financial obligations. This authorization includes, but is not limited to, the collection of fees, charges, and any other amounts owed to the Company under the Agreement.

4. Utilization of Backup Payment Method: In the event that an Automated Clearing House (ACH) transaction fails for any reason, the Merchant authorizes the Company to utilize the backup payment method on file to recover fees or costs, even if the Merchant has terminated their association with the WAAVE network. This authorization remains valid for a minimum period of six (6) months following the Merchant's departure from the system.

By signing below, the Parties acknowledge their understanding and agreement with the terms and conditions set forth in this Addendum, which shall be legally binding upon the Parties and shall be considered an integral part of the existing Agreement.