Document:

Payment Processing Agreement Bibit B.V. and Skype Com S.a r.l 14 August 2009

 Exhibit 10.10 
 SCHEDULE 1 AND APPENDIX 1 TO SCHEDULE 2 OF THIS EXHIBIT HAVE 
 BEEN
OMITTED AS CONFIDENTIAL AND FILED SEPARATELY WITH THE 
 SECURITIES AND EXCHANGE COMMISSION. 

TERMS AND CONDITIONS (BIBIT) 
 (addressing Acquiring, Gateway and Other Payment Services) 
 THIS AGREEMENT is dated
Friday, 14th of August 2009 and is entered into between Bibit BV, a company incorporated under Dutch Law in the form of a BV company its head office at Regulierenring 10 3981 LB, Bunnik, Netherlands and entered on the commercial register in the
Netherlands with number 30150865 and Skype Communications Sarl a company incorporated and registered under the laws of the Grand Duchy of Luxembourg with company number B 100.468 with its registered office at 22/24 Boulevard Royal, L-2449,
Luxembourg. Bibit and Skype hereby agree as follows: 
  

	1.	INTRODUCTION 

  

	1.1	Subject to the terms of the Contract, Bibit shall provide one or a combination of the following Services (and in these Conditions the following terms in this clause 1.1
shall have the following meanings): 

 “Acquiring Services” means the services provided by Bibit
where Bibit acts as Skype’s Acquirer; 
 “Gateway Services” means the transmission over the internet of
Data through Bibit’s technical systems from Skype to the relevant Acquirer or Other Financial Institution; 
 “Other
Payment Services” means the services provided by Bibit where Bibit makes available to Skype Other Payment Methods by collecting payment for goods and/or services and Remitting such payment to Skype; 

The above types of Services differ with respect to Transactions and their Authorisation: 

“Transaction” means: 

 (i) in the case of the Acquiring Services: any payment for goods or services or Refund made,
by use of a Card, a Card number or otherwise to debit or credit the applicable Cardholder’s account; 
 (ii) in the case of
the Other Payment Services: any payment for goods or services or Refund made, using an Other Payment Method; and 
 (iii) in the
case of the Gateway Services: any transaction similar to any of the foregoing in connection with any payment for goods and/or services, 
 (and “Transactions” shall be construed accordingly); 

“Authorisation” means: 
 (i) in the case of the Acquiring Services: the process whereby Bibit obtains at the time of the Transaction (directly or indirectly) from the Card Issuer confirmation that the Card has not been listed as
lost or stolen and that there are sufficient funds for the relevant Transaction; 
 (ii) in the case of the Other Payment
Services: the status indicating that the relevant Transaction has been validated by the Other Financial Institution; and 
 (iii)
in the case of the Gateway Services: the process whereby Bibit obtains at the time of the Transaction (directly or indirectly) from the relevant Acquirer, Card Issuer or Other Financial Institution confirmation that the applicable Card has not been
listed as lost or stolen and that there are sufficient funds for the relevant Transaction. 
  

	1.2	As a result of these different types of Services and the fact that Bibit shall provide them in combination with each other, Bibit’s role (including the way in
which Bibit must be entitled to take measures to protect Bibit’s position with respect to Refunds, Chargebacks, Fines or any other liability relating to any Transactions) and Skype’s responsibilities may differ on the basis set out in
these Conditions, which will be indicated by reference to the type of Service or combination of Services which the relevant provision is related to. 

	2.	DEFINITIONS AND INTERPRETATION 

  

	2.1	In these Conditions, the following terms shall (unless the context otherwise requires) have the following meanings: 

“Acquirer” means a Person (including Bibit, in respect of the Acquiring Services) who or which is licensed by a Card
Scheme and/or has appropriate arrangements in place with a third party relating to the use of a Card Scheme licence and who or which enters into an agreement with Skype for the provision of services allowing Skype to accept payment by Cards pursuant
to the Rules and for Skype to receive payment from such Person in respect thereof; 
 “Applicable Laws” means
all applicable laws and regulations (and, if applicable, the regulations of any Regulatory Authority) applicable to a Party to this Contract or to a Transaction in each case for the time being in force in any jurisdiction; 

“Bibit” means Bibit BV, a company incorporated under Dutch Law in the form of a BV company its head office at
Regulierenring 10 3981 LB, Bunnik, Netherlands and entered on the commercial register in the Netherlands with number 30150865; 

“Card” means a credit, debit, charge or purchase card or other card issued by a Card Issuer and licensed by a Card Scheme
(including, in the case of Gateway Services, any other cards which Bibit is able to process (as notified by Bibit to Skype from time to time) and which Bibit has agreed to process) (and “Cards” shall be construed accordingly);

 “Cardholder” means a Person who or which is the authorised user of a Card (and “Cardholders”
shall be construed accordingly); 
 “Card Issuer” means a financial institution which issues Cards under the
authority of the relevant Card Scheme (and “Card Issuers” shall be construed accordingly); 
 “Card
Schemes” means Visa Europe, Visa Inc, MasterCard Worldwide, UK Maestro, Solo and/or International Maestro and/or such other schemes governing the issue and use of Cards, as approved and notified by Bibit to Skype in writing from time to
time (and “Card Scheme” shall be construed accordingly); 
 “Chargeback” has the meaning given
to such term in clause 8.1 (and “Chargebacks” shall be construed accordingly); 

 “Chargeback Costs” has the meaning given to such term in clause 8.4.2;

 “Conditions” means these terms and conditions; 

“Confidential Information” means information that is designated as “confidential” or which by its nature is
clearly confidential (whether or not marked as confidential) including any information concerning Bibit’s or (as the case may be) Skype’s technology, technical processes, procedures, business affairs, finance, security procedures and the
layout of Bibit’s or (as the case may be) Skype’s premises and may take the form of (but is not limited to): (a) documents, technical specifications, unpublished patent specifications, data, drawings, plans, processes, photographs,
databases, computer software in disk, cassette, tape or electronic form and items of computer hardware; or (b) oral descriptions, demonstrations or observations. For the avoidance of doubt, all information disclosed by Skype in accordance with
clause 19 shall be deemed to be Confidential Information whether or not it is marked as confidential, and may be used by Bibit solely for the purposes set out in clause 19; 
 “Contract” means the contract between Skype and Bibit, incorporating these Conditions and the other documents referred to in clause 3.1, for the supply of the Services by Bibit to Skype;

 “Control” means the ability to direct or influence the affairs of another whether by way of contract,
ownership of shares or otherwise (and “Controls” and “Controlled” shall be construed accordingly); 
 “Customer” means a Person (including a Cardholder, where the context permits) who or which has ordered goods and/or services from Skype and where payment for such order is to be received
by Skype through use of the Services (and “Customers” shall be construed accordingly); 

“Data” means documents, data and records of any kind relating to Transactions (including, without limitation, any data
relating to Cards and Customers such as name, address, email address, card number, credit and payment information and transaction history); 
 “Effective Date” means the date on which this Contract is signed by both parties; 
 “Fees” means the fees payable by Skype to Bibit for the provision by Bibit of the Services, as set out in Schedule 1; 

 “Fines” means any and all fines, levies, costs, expenses, charges,
assessments or imposition of liabilities of any nature which the Card Schemes or any Other Financial Institution require Skype or Bibit to pay or which are otherwise directly or indirectly recovered from Bibit by the Card Schemes or any Other
Financial Institution at any time and which relate to any aspect of Bibit’s relationship with Skype (including the Transactions and the provision of the Services); 
 “Floor Limit” has the meaning given to such term in clause 9.1.2; 

“Force Majeure Event” has the meaning given to such term in clause 31.1; 

“Group Company” means, in respect of a Party, any undertaking which, directly or indirectly, Controls or is Controlled by
such Party or an undertaking which, directly or indirectly, Controls or is Controlled by any aforementioned undertaking (and “Group Companies” shall be construed accordingly); 

“Guarantor” means Ebay Inc, a Delaware corporation, with its registered office at 2145 Hamilton Avenue, San Jose, Ca.
95125, or such other replacement guarantor as agreed by Bibit from time to time; 
 “Intellectual Property
Rights” means any and all intellectual property rights of whatever nature and includes patents, inventions, know-how, trade secrets and other confidential information, registered designs, copyrights, database rights, design rights, rights
affording equivalent protection to copyright, trade marks, service marks, logos, domain names, business names, trade names, moral rights, and all registrations or applications to register any of the aforesaid items, rights in the nature of any of
the aforesaid items in any country or jurisdiction, rights in the nature of unfair competition rights and rights to sue for passing off; 
 “Merchant Bank Account” means the bank account which Skype is required to maintain pursuant to clause 10.1; 
 “Merchant Operating Instructions” has the meaning given to such term in clause 3.1.3; 
 “Other Financial Institution” means any third party which regulates or is responsible for any Other Payment Method (and “Other Financial Institutions” shall be construed
accordingly); 

 “Other Payment Method” means a payment method (other than Cards) which is
approved by Bibit in writing from time to time (and “Other Payment Methods” shall be construed accordingly); 

“Parent Company Guarantee” means the guarantee given by the Guarantor for the benefit of Bibit entered into on or around
the date hereof; 
 “Party” means Skype or Bibit (as the case may be); 

“Payment System” means all equipment and software used by Skype (and Skype’s agents, sub-contractors or any third
parties used by Skype) in connection with Transactions and the storage and/or processing of Data; 
 “PCI Security
Standards Council” means the global forum which is responsible for the development, management, education and awareness of payment card industry security standards, whose website is at www.pcisecuritystandards.org; 

“Person” means any individual, corporation, firm, unincorporated association, government, state or agency of a state and
joint venture (and “Persons” shall be construed accordingly); 
 “Reason Code” has the meaning
given to such term in clause 12.2.10; 
 “Refund” means a return of an amount to a Cardholder’s account or
(as the case may be) the reversal of a payment effected using an Other Payment Method, in each case pursuant to a request or instruction from Skype to Bibit (and “Refunds” shall be construed accordingly); 

“Regulatory Authority” means any governmental or regulatory authority having jurisdiction over a Party (including:
(i) in respect of Bibit, the United Kingdom’s Financial Services Authority, the United Kingdom’s Office of Fair Trading, the United Kingdom’s Office of the Information Commissioner and/or any equivalent regulator in the
Netherlands and (ii) in respect of Skype, the Commission Nationale pour la Protection des Donnees (the National Data Protection Commission of the Grand Duchy of Luxembourg (CNDP)), and the Direction de la réglementation des
marchés et de la consummation (the consumer protection authority of the Grand Duchy of Luxembourg); and any body which succeeds or replaces any of the foregoing), and/or any self-regulatory authority, governmental department, agency,
commission, board, tribunal, crown corporation, or court or other law, rule or regulation making entity having jurisdiction over any of the Parties and/or their 

 businesses or any part or subdivision thereof in the territories in which the Services are
made available or any local authority, district or other subdivision thereof or otherwise, are entitled to regulate, investigate, or influence the matters dealt with in this Contract; 

“Remittance” means the relevant payment due to Skype from Bibit in respect of Transactions (and “Remit”
and “Remitted” shall be construed accordingly); 
 “Remittance Date” means each Working Day
during the Term as agreed between Bibit and Skype, when Bibit shall submit the Remittance in accordance with clause 7; 

“Rules” means all applicable rules, regulations and operating guidelines issued by Bibit, the Card Schemes or (where
relevant) any Other Financial Institution from time to time relating to Cards, Transactions, Other Payment Methods and any payments or processing of Data relating thereto (including all amendments, changes and revisions made thereto from time to
time); 
 “Services” means such of the Acquiring Services, the Gateway Services and the Other Payment Services
which are provided to Skype by Bibit from time to time (or any of them, as the context shall permit or require); 

“Service Credits” has the meaning given to such term in the Service Level Agreement; 

“Service Levels” means a level to which any of the Services is to be performed, as described in the Service Level
Agreement or as otherwise agreed by the Parties; 
 “Service Level Agreement” means the agreement set out in
schedule 2; 
 “Settlement” means the crediting to Bibit of the proceeds of Transactions from (in the case of
the Acquiring Services) the relevant Card Scheme or from (in the case of the Other Payment Services) the relevant Other Financial Institution (and “Settle” and “Settled” shall be construed accordingly); 

“Skype” means Skype Communications Sarl a company incorporated and registered under the laws of the Grand Duchy of
Luxembourg with company number B 100.468 with its registered office at 22/24 Boulevard Royal, L-2449, Luxembourg; 

“Term” has the meaning given to such term in clause 12.1; 

“Trading Limit” has the meaning given to such term in clause 9.1.1; 

 “Year” means the period of 12 months (or shorter period in the period
immediately prior to the end of the Term) commencing on the Effective Date and each consecutive period of 12 months thereafter during the Term commencing on an anniversary of the Effective Date; and 

“Working Day” means every day throughout the Term with the exception of Saturdays, Sundays and bank or public holidays in
England and Wales. 
  

	2.2	In these Conditions (unless the context otherwise requires): 

  

	 	2.2.1	the words “including” and “include” and words of similar effect shall not limit the general effect of the words which precede them;

  

	 	2.2.2	references to the Contract, these Conditions and any other agreement, contract or document (including the Rules) shall be construed as a reference to it or them as
varied, supplemented or novated from time to time; 

  

	 	2.2.3	words importing the singular shall include the plural and vice versa; 

  

	 	2.2.4	words importing any gender shall include a reference to each other gender; and 

 

	 	2.2.5	references to a numbered clause are to a clause of these Conditions so numbered. 

 

	2.3	The headings in these Conditions are for convenience only and shall not affect their construction or interpretation. 

 

	2.4	Any reference to a statute, statutory provision or subordinate legislation (“Legislation”) (except where the context otherwise requires) (i) shall
be deemed to include any bye-laws, licences, statutory instruments, rules, regulations, orders, notices, guidance, directions, consents or permissions made under that Legislation and (ii) shall be construed as referring to any Legislation which
replaces, re-enacts, amends or consolidates such Legislation (with or without modification) at any time. 

  

	3.	THE CONTRACT 

  

	3.1	The following documents are incorporated into and form part of the Contract: 

 

	 	3.1.1	these Conditions; 

	 	3.1.2	the schedules to these Conditions; and 

  

	 	3.1.3	any merchant operating instructions, datasheets or manuals relating to various aspects of the Services, as such may be amended by Bibit from to time to time and
notified to Skype in writing (together, “Merchant Operating Instructions”), the current versions of which can be accessed at http://www.bibit.com/support/index.php. 

 

	3.2	In the event of any inconsistency between the provisions of these Conditions and the provisions of any of the documents detailed at clauses 3.1.2 and 3.1.3 inclusive,
the provisions of these Conditions shall take precedence. 

  

	4.	BIBIT’S OBLIGATIONS 

  

	4.1	Bibit shall not be obliged to provide any Services until the Effective Date. 

 

	4.2	Bibit shall, in return for the Fees, provide Skype with the Services upon and subject to the provisions of the Contract. 

 

	4.3	Bibit shall provide the Services with the care and skill to be expected of a leading and expert supplier of payment services and in accordance with all Applicable Laws,
the Rules and the Merchant Operating Instructions. 

  

	4.4	Skype acknowledges and agrees that Skype is only entitled to use the Acquiring and/or the Gateway Services (as the case may be) for Cards approved in advance by Bibit
and so notified in writing to Skype. 

  

	4.5	The Service Levels represent the minimum performance levels which are required of Bibit in respect of certain of Bibit’s obligations under the Contract as
specified in the Service Level Agreement. Where any Services are not provided to a standard which achieves compliance with certain specified Service Levels, Service Credits may be payable in accordance with the Service Level Agreement. For the
avoidance of doubt Skype shall not, in any circumstances, be entitled to deduct Service Credits from any amounts due from Skype to Bibit other than Fees. 

  

	4.6	 Without prejudice to clause 4.5, where the Services are otherwise not provided in accordance with the Contract, the matter shall be escalated according
to the procedure set out in clause 30, and, following resolution of such dispute in accordance with clause 30 Bibit shall apply such reasonable resources as are necessary (including the

 
engagement of third party contractors) to achieve compliance with the Service Levels. 
  

	4.7	If Services are provided to levels in excess of those set out in the Service Level Agreement, this shall not entitle Bibit to levy any additional Fees.

  

	4.8	Bibit shall as soon as reasonably practicable from time to time during the Term (and in any event in accordance with the Service Levels) notify Skype of:

  

	 	4.8.1	any applicable Chargebacks; 

  

	 	4.8.2	any costs, expenses, liabilities or Fines which Bibit has incurred as a result of or in connection with any Chargebacks (“Chargeback Costs”); and

  

	 	4.8.3	any other applicable Fines, 

which have accrued or otherwise come to Bibit’s attention or which have not previously been notified to Skype by Bibit and, where any
Fines or Chargeback Costs are proposed to be deducted from the Remittance, Bibit shall notify Skype as soon as practicable with such reasonable supporting evidence (where available) of documents evidencing the further costs. 

 

	4.9	In the event that, after the date on which the relevant Services are first provided by Bibit to Skype, there is any change in Applicable Laws or Rules (or in their
interpretation by the relevant Regulatory Authority and/or Card Scheme) which has the effect that the provision of the relevant Services would be in breach of Applicable Laws or Rules, Bibit shall as soon as reasonably practicable (but without
prejudice to clause 7.6) in good faith and at Bibit’s own cost make representations to the relevant Regulatory Authority and/or Card Scheme with a view to challenging such changes and/or such interpretation. 

 

	4.10	As part of the Services and in accordance with paragraph 4.6 of the Service Level Agreement, Bibit will maintain and manage a disaster recovery plan for the computer
equipment and operating environment on which the Services will be provided which will be invoked in accordance with its terms. For the avoidance of doubt Bibit shall not be responsible for any systems which it does not control and operate such as
the internet and the systems of an Acquirer (which is not Bibit) where Bibit provides Gateway Services to Skype. 

	4.11	Bibit shall as soon as reasonably practicable notify Skype of the details of any notice or communication relating specifically or which materially impacts the Services
which it receives from any Regulatory Authority, Card Scheme, or Other Financial Institution (to the extent that it is contractually or lawfully permitted to do so). 

 

	4.12	Bibit shall provide reports in such format and at such intervals as set out in Appendix 1 of the Service Level Agreement. 

 

	5.	SKYPE’S OBLIGATIONS 

  

	5.1	Skype shall at all times comply with: 

  

	 	5.1.1	the provisions of the Contract; 

  

	 	5.1.2	the Rules; and 

  

	 	5.1.3	Skype’s obligations relating to the provision of goods and/or services by Skype to Customers. 

 

	5.2	Rules with which merchants must comply can be found on the Card Schemes’ websites including, but not limited to: 

 

	 	5.2.1	http://www.mastercard.com/us/merchant/index.html; and 

  

	 	5.2.2	http://usa.visa.com/merchants/index.html?ep=v_sym_merchant. 

  

	5.3	Skype shall: 

  

	 	5.3.1	only accept payments and/or process Refunds from Cardholders or Customers in connection with goods and/or services which Skype has supplied to the relevant Cardholder
or Customer; 

  

	 	5.3.2	only accept payments and/or process Refunds in respect of goods and services which commonly fall within Skype’s business (as notified to Bibit prior to the
Effective Date and from time to time should Skype’s business change); and 

  

	 	5.3.3	only accept payments and/or process Refunds in respect of goods or services that the Cardholder or Customer would reasonably expect to receive.

	5.4	Unless otherwise agreed by Bibit in writing, Skype acknowledges and agrees that Skype shall (at Skype’s own cost) be solely responsible throughout the duration of
the Contract for the provision of all such equipment, software, systems and telecommunications facilities which are required to enable Skype to receive the Services (including any modification or adjustments thereto pursuant to clause 21).

  

	6.	FEES, CHARGES AND OTHER PAYMENTS DUE FROM YOU 

  

	6.1	In return for Bibit providing Skype with the Services, Skype shall pay to Bibit the Fees and all other sums payable by Skype to Bibit in accordance with the provisions
of the Contract. The Fees and the circumstances in which Bibit will alter the Fees or introduce new charges in addition to the Fees is set out in Schedule 1. 

 

	6.2	Bibit will deliver an invoice to Skype in relation to the Fees and unless stated otherwise, all Fees, charges and other payments to be made by Skype under the Contract
are exclusive of VAT and any other relevant taxes and in addition to paying such Fees, charges or other payments Skype shall also pay any such taxes against receipt from Bibit of an invoice. 

 

	6.3	Bibit shall be entitled to deduct any or all of the sums set out in clause 6.4 from any Remittance. 

 

	6.4	The sums referred to in clause 6.3 are: 

  

	 	6.4.1	the value of any invoice delivered by Bibit to Skype in accordance with clause 6.2 which is more than twenty (20) Working Days old; 

 

	 	6.4.2	any Refunds processed by Bibit since the previous Remittance Date (or, in the case of the first Remittance Date, since the Effective Date); 

 

	 	6.4.3	any Chargebacks and any Fines; and 

  

	 	6.4.4	any other charges or amounts due to Bibit by Skype under the Contract. 

  

	6.5	 In the event that the value of the sums set out in clause 6.4 exceeds the Remittance which would otherwise be due to Skype in respect of the
Transactions on the relevant Remittance Date, Bibit may elect not to pay any Remittance on such Remittance Date and the resulting shortfall may be held over by Bibit for deduction of such shortfall (together with interest in accordance with
clause 11.1) against the following (and any subsequent) Remittance. Bibit reserves the right at any time to require immediate 

 
payment of all or part of such shortfall, together with interest in accordance with clause 11.1 however such interest shall not start to accrue until twenty (20) Working Days following the
relevant Remittance Date upon which the shortfall was identified. 
  

	6.6	Bibit shall submit monthly invoices in respect of amounts owing under clause 6.1. Skype shall pay amounts due to Bibit within twenty (20) Working Days of the
receipt of the relevant invoice. 

  

	7.	BIBIT’S PAYMENTS TO SKYPE 

  

	7.1	Subject to clauses 6.3 to 6.5 and clauses 7.2 to 7.5 (inclusive), Bibit shall on the Remittance Date send by direct bank transfer to Skype’s Merchant Bank Account
each relevant Remittance. 

  

	7.2	Remittance shall not fall due until the occurrence of the later of the following: 

 

	 	7.2.1	the next Remittance Date following the relevant Transactions; or 

  

	 	7.2.2	the expiry of any period of deferment pursuant to clause 7.3 and/or 7.5 in respect of the relevant Transactions. 

 

	7.3	Throughout the Term and after its termination for any reason, Bibit shall be entitled to defer (for such period as Bibit shall in Bibit’s absolute discretion
consider appropriate) the date upon which the Remittance in respect of Transactions would (but for this clause 7.3) be due in order to protect Bibit’s position with respect to Chargebacks and/or Fines (in every case whether actual or
anticipated) PROVIDED ALWAYS that: 

  

	 	7.3.1	the amount deferred in respect of anticipated Chargebacks is based upon either (i) the current outstanding information requests or Chargebacks notified by Card
Issuers or Other Financial Institutions; or (ii) the three month average rate of Chargebacks notified by Card Issuers or Other Financial Institutions during the Term; 

 

	 	7.3.2	the amount deferred in respect of anticipated Fines is deferred as a result of actual notice of such Fines from the Card Schemes; 

 

	 	7.3.3	 Bibit shall (where available and not impacting on Bibit’s rights at clauses 7.3.1 and 7.3.2) provide documentary evidence of all Chargebacks
and/or Fines (actual and anticipated) and of any related information requests and 

 
notices referred to in clause 7.3.1 and 7.3.2 above, and in accordance with clause 4.8. 
  

	7.4	The period of deferment in clause 7.3 will exist until either the relevant liability is incurred (when Bibit shall pay to Skype the balance of the amount of such
sums, if any, after deducting the amount of such liability) or Bibit is satisfied that no such liability will be incurred. 

  

	7.5	Where Bibit has a reasonable suspicion that a Transaction may be fraudulent or involves other criminal activity, Bibit has the right to suspend the processing of that
Transaction and defer any Remittance relevant to that Transaction. 

  

	7.6	If throughout the Term and after its termination for any reason Bibit becomes aware that Skype or a Transaction is in breach of Applicable Laws or the Rules, Bibit
shall not be obliged to provide or continue to provide the Services (or any part thereof) provided it gives Skype 30 days notice of its intention to exercise its rights under this clause (save that Bibit shall not be obliged to provide such prior
notice where it is unable to do so by reason of Applicable Laws). Bibit will provide reasonable assistance to Skype in remedying the issue which gave rise to the operation of this clause and will resume provision of the Services (or part thereof)
when it is satisfied that the issue has been resolved. 

  

	7.7	In respect of the Gateway Services and where Remittance is not made by Bibit but Settlement is made by an Acquirer or Other Financial Institution to Skype:

  

	 	7.7.1	Skype acknowledges and agrees that the relevant Acquirer shall be solely responsible for paying to Skype any sums due in respect of Transactions and authorising and
settling Transactions in accordance with the terms of Skype’s agreement with such Acquirer; and 

  

	 	7.7.2	Skype acknowledges and agrees that Bibit may not be able to ascertain whether there are any errors in the transmission of Data in respect of any Transactions and
accordingly Skype shall be responsible for notifying Bibit in the event that there are any discrepancies between the amount of any payments Skype actually receives and those Skype expects. Such notice must be given to Bibit in writing within seven
days following the date of the relevant Transactions. 

	8.	CHARGEBACKS 

  

	8.1	In certain circumstances, Card Issuers, Card Schemes and/or Other Financial Institutions refuse to Settle a Transaction or require repayment from Bibit in respect of a
Transaction previously Settled and/or Remitted, notwithstanding that Authorisation may have been obtained from the Card Issuer and/or Other Financial Institution (such circumstances being a “Chargeback”). 

 

	8.2	Where the only Services that Bibit provides to Skype under the Contract are the Gateway Services, the following provisions of this clause 8 shall not apply. However,
the following provisions of this clause 8 apply to all aspects of the Acquiring Services and the Other Payment Services. 

  

	8.3	Skype acknowledges and agrees that, Skype may be required to reimburse Bibit for Chargebacks in circumstances where Skype has accepted payment in respect of the
relevant Transaction and even if Skype is under no legal liability for the supply or performance of the goods or services concerned. 

  

	8.4	Where a Chargeback occurs, Bibit shall be entitled to make a deduction from any Remittance in accordance with clauses 6.3 and 6.4 to recover: 

 

	 	8.4.1	the full amount of the relevant Chargeback; and 

  

	 	8.4.2	any other reasonable costs, expenses, liabilities or Fines which Bibit may incur as a result of or in connection with such Chargeback (“Chargeback
Costs”) PROVIDED ALWAYS that such Chargeback has not arisen as a result of any negligent act or negligent omission by Bibit under the Contract. 

  

	8.5	Skype agrees to pay to Bibit any Chargeback, Fine or Refund as an immediate liability and where the full amount of any Chargeback, Fine or Refund or any Chargeback
Costs is not debited by Bibit from the Merchant Bank Account or deducted from any Remittance or invoiced, then Bibit is entitled to otherwise recover from Skype by any means the full amount of such Chargeback or Fine or Chargeback Costs (or the
balance thereof, as the case may be). 

  

	8.6	 If, within 30 calendar days after Bibit has notified Skype of Fines and/or Chargebacks in accordance with clause 4.8, Skype provides to Bibit written
information in a form satisfactory to Bibit (acting reasonably) regarding the basis on which Skype wishes to dispute such Fines and/or Chargebacks, then Bibit shall in good faith submit such

 
information (as is appropriate to assist Skype in disputing such Fines and/or Chargebacks) to the relevant Card Issuer, Card Schemes or Other Financial Institution on Skype’s behalf.
Notwithstanding the foregoing, Skype acknowledges and agrees that any decision or determination of the relevant Card Issuer, Card Scheme or Other Financial Institution as to the validity and extent of any Fines and/or Chargebacks shall be final and
binding. 
  

	8.7	If Skype elects to dispute the validity and/or extent of any Fines and/or Chargebacks in accordance with clause 8.6 above and the relevant Card Issuer, Card Scheme
or Other Financial Institution determines that such challenge is successful, Bibit shall return, in accordance with clause 7.1, the amount of such Fine and/or Chargeback that has been paid by Skype to Bibit on the next Remittance Date following
the return of such Fines and/or Chargeback by the relevant Card Issuer, Card Scheme or Other Financial Institution. 

  

	8.8	As Fines and/or Chargebacks may arise a considerable period after the date of the relevant Transaction, Skype acknowledges and agrees that, notwithstanding any
termination of the Contract for any reason, Bibit shall remain entitled to recover Fines and/or Chargebacks and Chargeback Costs from Skype (and, where relevant from any Person who has provided Bibit with a guarantee or security relating to
Skype’s obligations under the Contract) in respect of all Chargebacks that occur in relation to Transactions effected during the term of the Contract. 

 

	8.9	All Chargebacks shall correspond to the whole or part of the Settlement value of the original Transaction or, at Bibit’s option, to an amount converted to the
Settlement currency from the currency of Chargeback by the Card Scheme to Bibit at the rate of exchange quoted by Bibit for Settlement purposes on the day the Chargeback is processed. 

 

	8.10	Skype agrees that it is Skype’s responsibility to prove to Bibit’s satisfaction (or that of the relevant Card Issuer or Other Financial Institution) that the
debit of a Customer’s or Cardholder’s account was authorised by such Customer or Cardholder. 

  

	9.	FLOOR AND TRADING LIMITS 

  

	9.1	In respect of the Acquiring Services and/or Other Payment Services, in order to enable Bibit to comply with any obligations of a Regulatory Authority or Bibit’s
own credit policies, Bibit may from time to time notify Skype of a monetary limit: 

	 	9.1.1	on the aggregate value of one or more Transactions in respect of any specified period (“Trading Limit”); and/or 

 

	 	9.1.2	above which Skype agrees to obtain Bibit’s consent prior to completing a Transaction or more than one connected Transaction (“Floor Limit”).

  

	9.2	Skype shall not exceed the Trading Limit or complete a Transaction in excess of the Floor Limit without Bibit’s prior written approval (to be given at Bibit’s
discretion). Such restriction shall continue to apply save if and to the extent that Bibit otherwise notifies Skype in writing. 

  

	9.3	Unless otherwise agreed by Bibit pursuant to clause 9.2, the monetary value of the Floor Limit shall be deemed to be zero. 

 

	10.	BANK ACCOUNT AND PAYMENTS 

  

	10.1	Skype shall throughout the term of the Contract and for such period as may be required thereafter for the purposes of any applicable provisions of the Contract maintain
a Merchant Bank Account that is acceptable to Bibit for the purposes of receiving payments from Bibit and making payments to Bibit. 

  

	10.2	Skype shall notify Bibit in writing in advance of any changes proposed by Skype in respect of Skype’s Merchant Bank Account (including, without limitation, the
location of the branch at which such account is held). If any change in Skype’s Merchant Bank Account details is imposed on Skype, Skype shall notify Bibit in writing immediately, giving full details of such changes and the reasons.

  

	10.3	In the event that Skype disputes the amount of any invoice then Skype shall within 10 Working Days of the date of the relevant invoice notify Bibit and the provisions
of clause 30 shall apply. 

  

	11.	INTEREST 

  

	11.1	If either party fails to pay any amount under the Contract when due, then Skype or Bibit (as appropriate) shall be entitled to charge default interest at a rate equal
to two (2) percent per annum above the published base rate of The Royal Bank of Scotland plc from time to time. 

	12.	TERM AND TERMINATION 

  

	12.1	The Contract shall commence upon the Effective Date and, subject to earlier termination pursuant to clauses 12.2 to 12.4 (inclusive), shall continue in force for an
initial period of two (2) years and eight (8) months (“Initial Term”). Upon the expiry of the Initial Term the Contract shall continue unless and until terminated by either Party giving to the other not less than six
complete calendar months’ notice to that effect, such notice to expire no earlier than the end of the Initial Term (“Term”). 

  

	12.2	Bibit shall be entitled to immediately suspend the provision of one or more of the Services (or, in each case, any part thereof) or to terminate the Contract or any one
or more of the Services (or, in each case, any part thereof) at any time with immediate effect by notice to Skype if: 

  

	 	12.2.1	Skype breaches any of the provisions of the Contract and (in the case of a breach which is not referred to in clause 12.2.2) fails to remedy the breach within twenty
(20) Working Days of receipt of Bibit’s written notice to do so; 

  

	 	12.2.2	Skype breaches any of the provisions of clauses 12.4, 17.1, 17.3, 17.5, 17.9, 17.13, 19.1, 19.2, 22.1 and 23.1; 

 

	 	12.2.3	Skype becomes insolvent or any step is taken for Skype’s liquidation, winding-up, bankruptcy, receivership, administration or dissolution (or anything analogous to
the foregoing occurs in any jurisdiction); 

  

	 	12.2.4	Skype makes or proposes any arrangements with Skype’s creditors generally arising from the insolvency or proposed insolvency of Skype; 

 

	 	12.2.5	Bibit is required or requested to do so by any Card Scheme or Other Financial Institution or by reason of Applicable Laws; 

 

	 	12.2.6	the relevant Services (or relevant part thereof) are suspended or otherwise cease to be provided by the relevant Acquirer, Card Scheme or Other Financial Institution
(as the case may be); 

  

	 	12.2.7	 subject to compliance with clauses 12.2.7.1 to 12.2.7.3 (inclusive), there is any material adverse change in the financial position of Skype or the
Guarantor provided, however, that Skype ceasing to be a direct or indirect subsidiary of the Guarantor shall not constitute a material adverse change in 

 
the financial position of Skype or Guarantor (a “Material Adverse Change”). In the event of such a Material Adverse Change occurring: 

 

	 	12.2.7.1	Bibit shall carry out a risk assessment, within one month of Bibit providing to Skype written notice stating that a Material Adverse Change has occurred, in order for
Bibit to determine whether Bibit is prepared to continue to provide the Services. If Bibit does not provide to Skype written notice stating that a Material Adverse Change has occurred within three months of the actual occurrence of the Material
Adverse Change, then Bibit’s right to carry out a risk assessment in respect of such Material Adverse Change shall expire; 

  

	 	12.2.7.2	if, in Bibit’s reasonable opinion, Skype has failed to satisfy the required criteria for successful completion of the risk assessment and to continue to provide
the Services would be detrimental to Bibit, then Bibit shall be entitled to exercise its rights set out in clause 12.2 upon thirty days written notice to Skype; and 

 

	 	12.2.7.3	if the risk assessment is not completed by Bibit within 60 days of written notice being given to Skype in accordance with clause 12.2.7.1, Bibit’s right to
exercise its rights set out in clause 12.2 pursuant to this clause 12.2.7 shall expire; 

  

	 	12.2.8	notwithstanding the provisions of clauses 12.2.7.1 to 12.2.7.3 (inclusive) above, Bibit shall be entitled to exercise its rights set out in clause 12.2 immediately in
circumstances where Bibit continuing to process Transactions following a Material Adverse Change in the financial position of Skype or the Guarantor would have, in Bibit’s reasonable opinion, a material detrimental effect on the reputation of
Bibit and/or Group Companies of Bibit or would expose Bibit and/or Group Companies of Bibit to material increased risk of financial loss arising from Chargebacks, Fines or liabilities to any third party. 

 

	 	12.2.9	there is any material adverse change in Skype and/or Bibit’s compliance with Applicable Laws; 

 

	 	12.2.10	 Bibit considers that a number of Skype’s acts and/or omissions fall within the Card Scheme’s codes classifying undesirable acts and omissions
of merchants (each such code being a “Reason Code”) and the effect of such 

	 	 
acts and/or omissions is such that the risk of Bibit continuing to provide the Services to Skype would (in Bibit’s reasonable opinion) place Bibit in breach of its obligations to any Card
Scheme; 

  

	 	12.2.11	Skype or the Guarantor ceases to carry on business (save that reference to the Guarantor in this clause 12.2.11 shall no longer apply following termination of the
Parent Company Guarantee in accordance with its terms and where such Parent Company Guarantee is not replaced); or 

  

	 	12.2.12	the Parent Company Guarantee ceases to have effect or ceases to be enforceable or is terminated in accordance with clause 26.1(b) of the Parent Company Guarantee
provided always that if Bibit has not given notice to terminate this Agreement within one month from the date of termination of the Parent Company Guarantee in accordance with clause 26.1(b) of the Parent Company Guarantee, Bibit’s right to
terminate this Agreement under this clause 12.2.12 shall expire. 

  

	12.3	Skype shall be entitled to terminate the Contract at any time with immediate effect by notice to Bibit if: 

 

	 	12.3.1	save where permitted or authorised to do so pursuant to these Conditions, Bibit fails to pay any undisputed sums due to Skype from Bibit under the Contract within 30
days of notice from Skype to Bibit that Bibit has failed to make such payment; 

  

	 	12.3.2	Bibit becomes insolvent or any step is taken for Bibit’s liquidation, bankruptcy, receivership, administration, dissolution or other similar action (or anything
analogous to the foregoing occurs in any jurisdiction); 

  

	 	12.3.3	Bibit makes or propose any arrangements with Bibit’s creditors generally arising from the insolvency or proposed insolvency of Bibit; 

 

	 	12.3.4	Bibit breaches any of the provisions of the Contract and (in the case of a breach which is not referred to in clause 12.3.5) fails to remedy the breach within 20
Working Days of receipt of Skype’s written notice to do so; 

  

	 	12.3.5	Bibit breaches any of the provisions of clauses 17.3, 17.4, 17.5, 17.8, 17.9, 17.14, 19.1, 19.6 and 22.1; 

	 	12.3.6	Bibit engages in fraudulent activity which has a material adverse effect on Skype’s business or reputation or the business or reputation of any of Skype’s
Group Companies; 

  

	 	12.3.7	Bibit are in breach of any Rules or Applicable Laws and have not remedied such breach within 30 days after written notice thereof from Skype;

  

	 	12.3.8	the circumstances set out in paragraph 11.1 of the Service Level Agreement occur; 

 

	 	12.3.9	there is any material adverse change in the financial position of Bibit or material adverse change in Bibit’s compliance with Applicable Laws; or

  

	 	12.3.10	Skype is required or requested to do so by any Regulatory Authority or by reason of any Applicable Laws. 

 

	12.4	Skype will advise Bibit as soon as reasonably practicable, and in any event within 10 Working Days, in writing of any material change in the nature of Skype’s
business or in the goods and/or services supplied to Customers or Cardholders or of any additional business commenced by Skype which is materially different to the nature of Skype’s current business (as notified to Bibit prior to the Effective
Date) and in respect of which Bibit processes Transactions, in order for Bibit to determine whether and under which conditions Bibit can accept processing Transactions related to this business. 

 

	13.	CONSEQUENCES OF TERMINATION 

  

	13.1	Upon any termination of the Contract all rights and obligations of either Party shall cease to have effect immediately, save that: 

 

	 	13.1.1	the clauses of the Contract which expressly or by implication have effect after termination will continue to be enforceable notwithstanding such termination (including,
for the avoidance of doubt but without limitation, clauses 6, 7, 8, 10, 11, 12, 13, 14, 15, 17, 18, 19, 22, 24, 28 and 29); and 

  

	 	13.1.2	termination shall not affect accrued rights and obligations of either Party under the Contract as at the date of termination. 

 

	13.2	 Subject always to clause 13.3, upon termination of the Contract (save where termination has been effected pursuant to clauses 12.2.1 to 12.2.12
(inclusive)), Bibit 

	 	 
shall use reasonable endeavours to co-operate with Skype and assist Skype to an extent commercially reasonable in order to effectuate the smooth transition of the Services to an alternative
payment service provider, which may include continuing to provide the Service for a reasonable time to enable Skype to identify and make necessary technical and contractual arrangements with an alternative payment service provider.

  

	13.3	Bibit shall be under no obligation to assist with transition outlined in clause 13.2 above where it would expose Bibit to reputational issues and/or would result in
breach by Bibit of any Applicable Laws or the requirements of a Regulatory Authority. 

  

	14.	INDEMNITY 

  

	14.1	Skype shall indemnify and hold Bibit indemnified from and against all actions, proceedings, costs, claims, demands, charges, expenses (including legal expenses),
liabilities, fines (including Fines), levies, losses and damages that are directly incurred, whether arising in tort, contract or common law, which Bibit may suffer or incur to the extent arising out of or in consequence of:

  

	 	14.1.1	any claim brought against Bibit by a Cardholder, Customer, Card Scheme, Card Issuer, Acquirer, Other Financial Institution or any other third party whose banking
details are fraudulently used in relation to Other Payment Services and in each case arising from a Transaction whether or not previously Settled by Bibit to Skype; or 

 

	 	14.1.2	any claim brought against Bibit if Skype fails to make the relevant disclosures to enable the processing of Data by Bibit as a data processor of Skype; or

  

	 	14.1.3	any breach by Skype of clauses 17.9 and 17.13 and Skype shall provide all reasonable assistance to Bibit in connection with any civil, administrative or criminal
proceedings brought against Bibit in respect of such breach; and 

	 	14.1.4	subject to clause 14.2, any reasonable steps taken in the protection of Bibit’s interests in connection with any of the following aspects of its relationship with
Skype: 

  

	 	14.1.4.1	any actual security breach or a security breach reported to Bibit by a Card Scheme, Acquirer or a Card Issuer or Skype relating to Data (whether or not Skype has
complied with PCI DSS Standards); or 

  

	 	14.1.4.2	the requirements of a Card Scheme, the Rules, a Regulatory Authority or Applicable Laws; or 

 

	 	14.1.4.3	any allegation of fraud made in relation to Skype’s business, 

 except, in each case, if and to the extent caused by or contributed to by Bibit’s negligence or any breach of this Contract by Bibit. 

 

	14.2	Any claim pursuant to clause 14.1.4 will be limited to any costs, charges, expenses (including legal expenses) or liabilities incurred by Bibit to any third party and
to the reasonable cost to Bibit of its own internal resources which become utilised and are attributable to any of the events at clauses 14.1.4.1, 14.1.4.2 or 14.1.4.3. 

 

	14.3	If Bibit wishes to claim the benefit of an indemnity pursuant to clause 14.1.1 and clause 14.1.2, Bibit shall as soon as reasonably practicable give notice thereof in
writing to Skype, in as much detail as is material to allow Skype to make a decision whether to exercise the option at clause 14.4. 

  

	14.4	Skype shall have the option, subject to indemnifying Bibit for its reasonable expenses incurred in respect of the claim, to assume the defence of any claim by a third
party (a “Third Party Claim”) in relation to which Bibit seeks an indemnity from Skype, including the instruction of legal advisers reasonably satisfactory to Bibit to represent Bibit which Skype may designate and Skype shall pay
the fees and disbursements of such legal advisers. 

  

	14.5	If Skype does not exercise the option contained in clause 14.4, Bibit shall thereafter, if so required by Skype, maintain consultation with Skype on all aspects of the
relevant Third Party Claim and shall provide Skype with all information reasonably requested by it in relation to the Third Party Claim. 

  

	14.6	 Whether or not Skype exercises the option contained in clause 14.4, Bibit shall not admit liability or make any prejudicial admission or statement or
any agreement or 

	 	 
compromise in relation to any Third Party Claim without the prior written approval of Skype and shall if so requested provide reasonable assistance at the expense of Skype in the defence and
settlement of such claim. 

  

	14.7	Bibit shall use its best endeavours to mitigate any liability, causes of action, claims, and costs, losses, expenses and/or fees (including those of its professional
advisers) incurred in connection with any claim which it seeks to make under an indemnity pursuant to clause 14.1.1 and clause 14.1.2. 

  

	14.8	Bibit shall indemnify and hold Skype indemnified from and against all actions, proceedings, costs, claims, demands, charges, expenses (including legal expenses),
liabilities, fines (including Fines), levies, losses and damages that are directly incurred, whether arising in tort, contract or common law, which Skype may suffer or incur to the extent arising out of or in consequence of:

  

	 	14.8.1	any actual security breach or security breach reported to Skype by a Card Scheme, Acquirer, Card Issuer or Bibit relating to Data which is directly attributable to
Bibit not being compliant with any PCI DSS Standards (but not including any claims made by a Regulatory Authority); 

  

	 	14.8.2	any breach of clauses 17.9 to 17.12 inclusive and clauses 17.14 and 17.15 by Bibit and/or any sub-contractor of Bibit, and Bibit shall provide all reasonable assistance
to Skype in connection with any civil, administrative or criminal proceedings against Skype in respect of such breach; and 

  

	 	14.8.3	Subject to clause 14.9, any reasonable steps taken in the protection of Skype’s interests in connection with any of the following aspects of its relationship with
Bibit: 

  

	 	14.8.3.1	any actual security breach or a security breach reported to Skype by a Card Scheme, Acquirer, Card Issuer or Bibit relating to Data (whether or not Bibit has complied
with PCI DSS Standards) which is attributable to Bibit’s negligence; or 

  

	 	14.8.3.2	the requirements of a Card Scheme, the Rules, a Regulatory Authority or Applicable Laws which are attributable to Bibit’s negligence; or 

 

	 	14.8.3.3	any allegation of fraud made in relation to Skype’s business which is caused by Bibit’s negligence. 

	14.9	Any claim pursuant to clause 14.8.3 will be limited to any costs, charges, expenses (including legal expenses) or liabilities incurred by Skype to any third party and
to the reasonable cost to Skype of its own internal resources which become utilised and are attributable to any of the events at clauses 14.8.3.1, 14.8.3.2 or 14.8.3.3. 

 

	14.10	For the purposes of establishing Bibit’s negligence in relation to clauses 14.1.4.1 and 14.8.3.1 to 14.8.3.3, Bibit agrees that the standards of care that Bibit
shall be required to maintain include standards equivalent to those of the PCI DSS Standards that are relevant to the protection of Data. 

  

	15.	LIABILITY 

  

	15.1	Subject to clauses 15.2, 15.3, 15.5 and 15.6, each Party accepts liability for any proven direct losses which the other Party suffers or incurs as a direct result of
its negligence or any breach by it of its obligations under the Contract, save if and to the extent that such negligence or breach is caused by the other Party. 

 

	15.2	Neither Party shall have any liability (other than expressly provided for in the Contract) to the other Party in contract, tort (including negligence or breach of
statutory duty) or otherwise for any indirect, special or consequential loss or damage howsoever caused arising out of, or in connection with, any supply, failure to supply or delay in supplying the Services or the fulfilment, failure to fulfil or
delay in fulfilling its obligations under the Contract. 

  

	15.3	Apart from any liabilities provided for in clauses 6, 8, 14, 17, 20.2 and 22 which shall be unlimited, each Party’s total liability to the other Party in addition
to any liabilities provided for in the Contract, in contract, tort (including negligence or breach of statutory duty) or otherwise arising out of, or in connection with, the supply, failure to supply or delay in supplying the Services or the
fulfilment, failure to fulfil or delay in fulfilling its obligations under the Contract shall be limited: 

  

	 	15.3.1	in respect of any one incident, or series of connected incidents arising from a common cause in any Year, to an amount equal to the aggregate of all the Fees paid and
payable in respect of that same Year; or 

  

	 	15.3.2	 where the date of the incident, or series of connected incidents arising from a common cause giving rise to any relevant claim arises during the Year
commencing on the Effective Date, the total amount of Fees which are payable in such period together with an amount equal to the Fees which 

	 	 
would be reasonably likely to be payable (having regard to matters such as the amount of Fees which have been paid or are payable, market conditions and general patterns of trading and assuming
that the Contract would remain in full force and effect) for the remainder of such Year. 

  

	15.4	Each Party acknowledges and agrees that the limitations on liability contained in this clause 15 are reasonable in all the circumstances and that the Fees have been
calculated taking into account such limitations (which would be higher but for such limitations) and accordingly each Party has accepted the risk of any losses which it may suffer because of the limitations liability under this clause 15.

  

	15.5	Nothing in these Conditions shall operate to exclude or restrict either Party’s liability for fraud or deceit or for death or personal injury resulting from its
negligence. 

  

	15.6	Bibit shall have no liability to Skype in relation to any decision of any Acquirer or Other Financial Institution, save if and to the extent that such decision is made
as a direct result of Bibit’s negligence or any breach of the Contract by Bibit. 

  

	15.7	The limit on Bibit’s liability referred to in clause 15.3 shall not include any amounts Bibit shall become liable for hereunder by way of Service Credits and any
liability on Bibit’s part for payment of Service Credits shall be in addition to and shall not be counted in the limit on Bibit’s liability in clause 15.3. In the event that Skype deduct from the Fees any Service Credits by way of set-off,
any sums so set-off by Skype against the Fees shall not be deemed to reduce the Fees incurred by Skype for the purposes of calculating the limit on Bibit’s liability pursuant to clause 15.3. 

 

	15.8	For the avoidance of doubt, neither party shall be entitled to recover twice in respect of the same loss. 

 

	16.	PUBLICITY AND MATERIALS 

  

	16.1	Neither Party shall make any reference to the Services, the other Party, any Group Company of the other Party or any Card Scheme in any public announcements, without
the prior written consent of the other Party. 

  

	16.2	Skype shall display prominently on Skype’s website where Skype accepts Cards for payment, the Card and Card Scheme identification required by the Rules.

	16.3	Each Party acknowledges and agrees that: 

  

	 	16.3.1	the other shall have the right to approve or disapprove in advance any advertising material (including on Internet websites), promotional, marketing, advertising or
sales materials bearing the other’s name prior to the distribution of any such material; and 

  

	 	16.3.2	it shall only use such promotional, marketing, advertising or sales materials that comply in all material respects with this Contract, Applicable Laws and the Rules.

  

	17.	DATA 

  

	17.1	Skype shall be responsible: 

  

	 	17.1.1	for ensuring the delivery of the Data to Bibit in a medium and format agreed with Bibit; and 

 

	 	17.1.2	for ensuring the security, integrity and confidentiality of Data at the point of delivery. 

 

	17.2	Bibit may refuse to accept Data from Skype where the requirements specified in any instructions issued by Bibit and agreed with Skype from time to time are not
satisfied in full and Bibit processing the Data shall not preclude Bibit from subsequently requiring its replacement, deletion or correction. 

  

	17.3	Each Party acknowledges and agrees that they (including agents, sub-contractors or any third parties used by the Parties) shall each abide by any payment card industry
data security standards of the relevant Card Schemes as updated from time to time (the “PCI DSS Standards”). The PCI DSS Standards require Skype and Bibit, among other things, to observe standards of due care with regard to the
protection of sensitive Customer or Cardholder information and to ensure that the Payment System is compliant with those standards. Accordingly, without prejudice to the generality of the foregoing, Skype shall ensure that the Payment System
complies in all respects with the PCI DSS Standards. 

  

	17.4	Bibit will not be in breach of clause 17.3 provided that it uses best efforts to achieve compliance with PCI DSS Standards in accordance with the timescales mandated by
the Card Schemes from time to time. 

	17.5	Each Party shall notify the other immediately if it becomes aware of or suspects any security breach relating to Data (whether or not the Party the subject of the
security breach has complied with the PCI DSS Standards). As soon as reasonably practicable, the Party the subject of the security breach shall also (and without prejudice to any other remedy the other Party may have in respect thereof) identify and
remediate the source of such security breach and take any steps reasonably required by the other Party including, but not limited to, the procurement (at the cost of the Party who is the subject of the security breach) of forensic reports from a
third party organisation that has been certified by the PCI Security Standards Council to validate an entity’s adherence to PCI DSS Standards and that is recommended by Bibit. If the results of any said forensic report deems that such security
breach was attributable to the other Party then such other Party shall reimburse the costs of the Party who is the subject of a security breach in commissioning the forensic report. 

 

	17.6	Neither party shall store, at any time, Card verification value printed on the Card. 

 

	17.7	The obligations under clauses 17.3, 17.5 and 17.6 shall survive termination of the Contract and shall continue in full force and effect until all Data obtained under
the Contract has been destroyed or as otherwise agreed in writing between the Parties. 

 Personal Data 

 

	17.8	For the purposes of this clause 17, “Data Protection Requirements” means, collectively, all data protection and data security requirements imposed by
law, including, without limitation, the national legislation on the protection of data subjects with regard to the processing of personal data and on the free movement of such data implementing the EU Data Protection Directive 95/46/EC, the Privacy
and Electronic Communications Directive 2002/58/EC in the countries which are members of the European Union and other data protection or privacy legislation in force from time to time which is applicable to the provision of the Services, including
where applicable the guidance and codes of practice issued by the relevant authorities and the terms “processing”, “data subject” and “personal data” shall have the meaning ascribed to them by the
Data Protection Requirements. 

  

	17.9	Each Party shall, in relation to the Services, comply with all Data Protection Requirements as they apply to the parties in their respective roles of data controller
and data processor as allocated below. 

	17.10	The Parties acknowledge that the performance of the Services under this Contract involves the processing of personal data in respect of which Skype is the data
controller. When processing such personal data in connection with the provision of the Services Bibit shall be a data processor in respect of such personal data. When Bibit processes such personal data for any purpose other than in connection with
the provision of the Services Bibit shall be a data controller in respect of such personal data. 

  

	17.11	For the avoidance of doubt where Bibit processes personal data comprised in the Data for the purposes permitted under clause 18.3, 19.6 and 19.7 other than in
connection with the provision of the Services, Bibit shall be a data controller in respect of such personal data. 

  

	17.12	Skype has confirmed to Bibit that it is registered as a data controller in the Grand Duchy of Luxembourg and that where Skype is acting as data controller under this
Contract, the applicable Data Protection Requirements are the Coordinated Text of the Law of 2 August 2002 on the Protection of Persons with regard to the Processing of Personal Data modified by the Law of 31 July 2006, the Law of
22 December 2006 and the Law of 27 July 2007. Accordingly, in the provision of the Services Bibit shall: 

  

	 	17.12.1	subject to Skype’s compliance with clause 17.13, only act on instructions from Skype regarding the processing of personal data and as permitted under this Contract
and comply with any security procedures agreed between the Parties from time to time which are intended to ensure that appropriate technical and organisational measures shall be taken against unauthorised or unlawful processing of the personal data
and against accidental loss or destruction of, or damage to, the personal data having regard to the state of the technological development and the cost of implementing the measures, so as to ensure a level of security appropriate to:

  

	 	17.12.1.1	the harm that may result from breach of such measures; and 

  

	 	17.12.1.2	the nature of the personal data to be protected; 

  

	 	17.12.2	be fully responsible for the reliability of any of Bibit’s employees or sub-contractors who have access to the personal data provided by Skype; and

	 	17.12.3	promptly notify Skype of any requests made by any data subjects or enforcement agency in relation to the processing of personal data so that Skype may deal with any
such request. 

  

	17.13	Skype warrants and undertakes that any instructions given by Skype to Bibit in respect of the personal data where Bibit is acting as a data processor of Skype shall at
all times be in accordance with the Data Protection Requirements and that compliance with such instructions and the processing of the personal data as permitted by this Contract shall not result in a breach of such Data Protection Requirements.

  

	17.14	Bibit warrants and undertakes that when processing personal data comprised in the Data as a data controller it shall at all times comply with the applicable Data
Protection Requirements, provided that Bibit shall not be liable under this clause 17.14 for any non-compliance which arises as a result of any failure by Skype, or any other third party, to comply with applicable Data Protection Requirements.

  

	17.15	Except: 

  

	 	17.15.1	to the extent necessary to allow Bibit to perform its obligations under this Contract; or 

 

	 	17.15.2	to the extent necessary to enable Bibit to comply with the requirements of a Regulatory Authority, Applicable Laws, Card Schemes or Other Financial Institutions; or

  

	 	17.15.3	where Skype has provided consent (such consent not to be unreasonably withheld or delayed); or 

 

	 	17.15.4	pursuant to clause 17.16, 

 Bibit
shall not transfer, store or process personal data which Skype provides to Bibit for the purposes of this Contract outside the EEA. 

	17.16	Bibit shall notify Skype in the event that Bibit wishes to transfer any Data to a third party processor located outside of the EEA and such transfer shall be subject to
the following provisions of this clause 17.16: 

  

	 	17.16.1	the parties shall work together in good faith to determine what steps are reasonably necessary to ensure that such export of personal is undertaken in a manner that
complies with the Data Protection Requirements; 

  

	 	17.16.2	Skype shall, and Bibit shall use reasonable endeavours to procure that the third party processor shall, enter into controller to processor versions of the standard
model clauses approved by the European Commission unless the parties agree that the use of the model clauses is not required (because the third party is enlisted in the US Safe Harbor or otherwise); and 

 

	 	17.16.3	Skype (as data controller) will be responsible for any notifications, registrations or approvals which need to be made with, or obtained from, local data protection
authorities. Bibit shall provide Skype with details of the security measures to be taken by the third party processor and shall use reasonable endeavours to provide Skype with any other information reasonably necessary to enable Skype to complete
the model clauses and, where appropriate, to enable Skype to notify, register or obtain approval for, such clauses with the local data protection authorities. 

 

	18.	RETENTION OF RECORDS 

  

	18.1	Subject to compliance with the requirements of the PCI DSS Standards, Data Protection Requirements and any other Applicable Laws, Skype shall retain legible copies of
Data for a minimum period of 18 months from the date of each Transaction. 

  

	18.2	Subject to compliance with clause 17 and the Data Protection Requirements, either Party may, from time to time, request the other Party to provide copies of Data, and
such copies shall be provided within 28 days of a request being received. 

  

	18.3	Skype hereby, subject to clause 17.11, authorises Bibit to release Data and any other information relating to the Services or the Card Schemes (or, if instructed by
Bibit, Skype shall provide such Data or information or procure that such Data or information is provided) to any agent of Bibit’s or any other Person: 

 

	 	18.3.1	as is necessary for the purpose of fulfilling Bibit’s obligations under the Contract; 

	 	18.3.2	as is necessary for the purpose of fulfilling Bibit’s obligations under the Rules or otherwise as required by Applicable Laws or permitted under this Contract; or

  

	 	18.3.3	where Bibit, or any third party, are investigating any suspected criminal activity in connection with the provision of the Services. 

 

	19.	PROVISION AND DISCLOSURE OF INFORMATION 

  

	19.1	Subject to compliance with clause 17 and the Data Protection Requirements, each Party shall at all times throughout the term of the Contract (and for a period of one
year thereafter): 

  

	 	19.1.1	disclose to the other Party such information as is reasonably required relating to the performance of the Contract including any information required to satisfy
Bibit’s obligations to any Card Scheme or Regulatory Authority or otherwise; and 

  

	 	19.1.2	fully comply with the requirements of any Other Financial Institution relating to the relationship between the relevant Party and such Other Financial Institution in
respect of which the Other Payment Methods are to be provided (including any requirement for Skype to have a contract and/or connection number with such Other Financial Institution). 

 

	19.2	Notwithstanding the existence of the Parent Company Guarantee, in the event that Bibit considers that Skype’s risk profile has materially deteriorated since the
Effective Date, Skype is obliged to provide to Bibit (throughout the Term and for a period of one year thereafter) the information set out in clause 19.4, and in the circumstances where Bibit has a reasonable and particular need for information
and assistance over and above that which Skype (and the Guarantor where necessary) is required to provide pursuant to the remaining provisions of this clause 19 and any other term of this Contract in order to enable Bibit to quantify the extent of
the risk and to enable it to understand the specific situation that has arisen, Bibit will communicate this requirement to Skype with its reasons for requiring such information and assistance, and the particular information and assistance required,
and Skype shall use best efforts to provide such information to Bibit as soon as reasonably practicable after receipt of such request. 

	19.3	For the purpose of clause 19.2 “materially deteriorated” shall mean: 

 

	 	19.3.1	a material change in the goods or services sold to Customers or Cardholders by Skype; 

 

	 	19.3.2	a material increase or fluctuations in either, volumes of Transactions in any calendar month or value of the average Transaction or levels of Chargebacks. A
material increase or fluctuation will be assessed by Bibit (acting reasonably) and be based on an assessment of Bibit’s expected volumes, values or levels based on Bibit’s historical experience of Skype and Skype’s trading trends
including but not limited to seasonality of sales, year over year sales and growth of sales; 

  

	 	19.3.3	a material increase in Fines beyond those reasonably anticipated by Bibit at the Effective Date; 

 

	 	19.3.4	changes in the ownership structure of Skype; 

  

	 	19.3.5	removal or unenforceability of security (if any) upon which Bibit relies; and 

 

	 	19.3.6	where Bibit becomes aware of a material financial deterioration in Skype’s financial position. 

 

	19.4	Bibit’s requirements pursuant to clause 19.2 will include but not be limited to: 

 

	 	19.4.1	forecasts for volumes of anticipated Transactions; 

  

	 	19.4.2	the following information relating to actual or anticipated Cardholder or Customer profiles: 

 

	 	19.4.2.1	a breakdown of Card spending or Transaction volume by product (to include Skype Credit, Subscription, Online Number and Voicemail) which shall be provided by Skype to
Bibit as soon as reasonably practicable after it becomes available; and 

  

	 	19.4.2.2	a breakdown of Card spending or Transaction volume by month which shall be provided by Skype to Bibit as soon as reasonably practicable upon receipt of a request from
Bibit to Skype; 

  

	 	19.4.3	 financial reporting statements (including profit and loss statements, balance statements and statements of cash flow (where prepared)) where a period
of 

	 	 
six months has expired since an audit undertaken in accordance with clause 19.9. For the purposes of this clause 19.4.3 Bibit acknowledges that it shall have access to publically reported
information in relation to the Guarantor at http://investor.ebay.com/annuals.cfm and http://investor.ebay.com/sec.cfmDocType=Annual&Year= as well as publically reported information in relation to Skype. Instructions on how to
access such information shall be provided to Bibit by Skype within 14 days of the Effective Date. In the circumstances where Bibit has a reasonable and particular need for more up to date information, Bibit will communicate this requirement to Skype
with its reasons and Skype shall use best efforts to provide such information to Bibit as soon as reasonably practicable after receipt of such request; 

 

	 	19.4.4	information relating to the provision by Skype of products and services to Customers and Cardholders which shall be provided by Skype to its Bibit relationship manager
for agreement prior to any changes thereto being made; 

  

	 	19.4.5	information relating to any changes in senior management within Skype which shall be provided to Bibit as soon as reasonably practicable upon such changes being
announced; 

  

	 	19.4.6	Skype taking all reasonable steps to assist Bibit in handling any claim or query raised by a Cardholder, Card Issuer, a Card Scheme or any other third party in relation
to the Services; and 

  

	 	19.4.7	Skype giving Bibit reasonable assistance on request for the prevention and detection of fraud or other criminal activity in respect of Transactions.

  

	19.5	Skype shall provide to Bibit its independently audited annual financial accounts within ten Working Days of such accounts becoming available. In the event of such
accounts being delayed beyond the due date of publication or otherwise unavailable then Skype shall, within the period the accounts should otherwise have been provided pursuant to this clause 19, inform Bibit thereof giving sufficient reasons.

  

	19.6	Bibit will not disclose Skype’s information (including Data and information about Transactions) to anyone other than as expressly permitted in the Contract except,
subject to clause 17.11: 

	 	19.6.1	where Bibit has Skype’s permission; 

  

	 	19.6.2	where Bibit is required or permitted to do so by Applicable Laws or the Rules; 

 

	 	19.6.3	to other organisations who provide a service to Bibit or Skype which is necessary for the performance by Bibit of this Contract; 

 

	 	19.6.4	where Bibit may assign, subcontract or transfer rights and obligations under the Contract; or 

 

	 	19.6.5	to Group Companies of Bibit where such disclosure is necessary for the performance by Bibit of this Contract. 

 

	19.7	Subject to clause 17.11 and 17.14, Bibit may disclose information concerning Skype and Data to third parties for use in their or any Card Scheme’s or
Acquirer’s or Other Financial Institution’s fraud prevention programmes for the purpose of assisting in identifying merchants involved in, amongst other things, fraud or suspected fraud, insolvency, breach of a merchant services agreement
and any other such matter which would assist Bibit or other third parties in their efforts to prevent fraud. Bibit may also disclose information concerning Skype to law enforcement bodies where Bibit suspects that fraud or other criminal activity
may have occurred. 

  

	19.8	Skype agrees that if Bibit has acted in good faith Bibit shall have no liability to Skype for any inaccuracy in the information Bibit provides to any third parties
pursuant to this clause 19. 

  

	19.9	Each Party agrees that the other may, no more frequently than once per calendar year, audit the other’s procedures, records and performance related to the subject
matter of the Contract and in relation to compliance with Applicable Laws in such manner as the auditing party reasonably deems appropriate. Each Party agrees to cooperate in any such audit on reasonable request, provided that any reasonable
expenses incurred by the audited party in so doing shall be reimbursed by the auditing party. Each person conducting or participating in such audit shall be required to sign a non-disclosure agreement in such reasonable form as is provided by the
audited party and shall have access only to such records as may directly relate to this Contract. 

  

	19.10	 Each Party shall bear its own costs of any audits carried out pursuant to clause 19.9 except in any case where such audit is the consequence of or
uncovers a material 

	 	 
default of the other (in which case, the reasonable costs incurred in respect of the relevant audit shall be payable by such other). 

 

	20.	INTELLECTUAL PROPERTY 

  

	20.1	The Contract does not transfer, and is not intended to transfer, to either Party any of the Intellectual Property Rights that the other Party owns at the Effective Date
or any Intellectual Property Rights that are created, acquired or developed by a Party during the term of the Contract. 

  

	20.2	Each Party shall obtain the written consent of the other Party prior to using or referring to any trade marks, logos, copyrighted materials, business names or other
similar Intellectual Property Rights belonging to that other Party in any promotional materials or literature, agreements or on any website. 

  

	20.3	On termination of the Contract, each Party shall remove any reference to the other Party from any promotional materials or literature, agreements or on any websites.

  

	21.	VARIATION AND CHANGE 

  

	21.1	No variation of this Contract (including its Schedules) shall be effective unless made in writing and signed by or on behalf of each of the Parties or by their duly
authorised representatives. 

  

	22.	CONFIDENTIAL INFORMATION 

  

	22.1	Except to the extent set out in this clause 22, each Party shall treat as confidential all Confidential Information obtained from the other under the Contract, will
protect such Confidential Information and will not, without the prior written consent of the other, disclose or use such Confidential Information except for the purposes of the Contract. 

 

	22.2	Clause 22.1 does not apply to information which the receiving Party can show by reference to documentary or other evidence: 

 

	 	22.2.1	was rightfully in its possession prior to disclosure to it by the other Party; 

 

	 	22.2.2	is already public knowledge or which becomes so at a future date (otherwise than as a result of breach of this clause 22); 

	 	22.2.3	is received from a third party who is not under an obligation of confidentiality in relation to the information; or 

 

	 	22.2.4	is developed independently without access to, or use or knowledge of, the Confidential Information. 

 

	22.3	Clause 22.1 shall not apply if and to the extent that any Confidential Information is required to be disclosed to any Regulatory Authority, by the rules of a recognised
stock exchange or by Applicable Laws. 

  

	22.4	Bibit undertakes in respect of Confidential Information for which it is the recipient and which it discloses in accordance with clause 18.3, 19.6 and 19.7 to ensure
that all persons and bodies mentioned in clause 18.3, 19.6 and 19.7 are made aware, prior to the disclosure of such Confidential Information, of the confidential nature thereof, that they owe a duty of confidence to the disclosing Party and agree to
hold such Confidential Information in confidence in accordance with the terms of this Contract; and to use its reasonable endeavours to ensure that such persons and bodies comply with such obligations. 

 

	22.5	Other than as expressly permitted under these Conditions, on termination or expiry of the Contract for whatever reason, each Party shall forthwith cease to use any
Confidential Information of the other and shall return on demand, or at the request of the other, destroy or permanently erase all copies of that Confidential Information in its possession or control, save that either Party will be permitted to
retain one copy of such part of the Confidential Information for the purposes of and for so long as required by any law or by judicial or administrative process or its legitimate internal compliance issues or other legitimate reasons such as the
detection of crime or fraud. 

  

	23.	ASSIGNMENT AND SUBCONTRACTING 

  

	23.1	The Contract is personal to Skype and Skype may not assign it or transfer it or any of Skype’s rights under it without Bibit’s consent, such consent not to be
unreasonably withheld or delayed and PROVIDED ALWAYS that Skype may assign, transfer, novate or otherwise dispose of its rights and obligations under this Contract in whole or in part with the prior written consent of Bibit (which consent shall not
be unreasonably withheld or delayed) to any Group Company of Skype. 

	23.2	Skype may only use an agent or sub-contractor in relation to the performance of Skype’s obligations under the Contract with Bibit’s prior written consent and
Bibit may withdraw that consent at any time. 

  

	23.3	Each Party shall be liable to the other Party for the acts or omissions of: 

 

	 	23.3.1	any agent or subcontractor, whether or not used with the consent of the other Party and the Party appointing an agent or subcontractor shall ensure that the relevant
provisions of this Contract are reflected and enforced in its arrangements with the each agent and subcontractor; 

  

	 	23.3.2	any Group Company; and 

  

	 	23.3.3	any employee or agent of any of the foregoing, 

 in or relating to the performance of the Contract or in connection with any Transaction thereunder or any matter associated with any such Transaction. 

 

	24.	WAIVER 

  

	24.1	No failure or delay by either Party in exercising any of its rights under these Conditions shall be construed as a waiver or release of that right unless otherwise
agreed in writing by the other Party. 

  

	24.2	No single or partial exercise of any of rights or remedies under these Conditions shall preclude or restrict the further exercise of such right or remedy. A waiver of
any breach of any provisions of the Contract shall not constitute a waiver of any other breach and shall not affect the other provisions of the Contract. 

  

	24.3	The rights and remedies of either Party under these Conditions are cumulative and not exclusive of any rights or remedies provided by law. 

 

	25.	NOTICES 

  

	25.1	 Any notice to be given under or in connection with the Contract shall be in writing and signed by or on behalf of the Party giving it and shall be
served by delivering it personally or sending it by prepaid recorded registered post (or registered airmail in the case of an address for service outside the United Kingdom) or by facsimile (provided that a hard copy of the facsimile is also served
by prepaid registered post or airmail) to the address of the other Party as set out in the Contract or as otherwise 

 
notified by such Party from time to time. Any notice given in accordance with this clause 25.1 shall be deemed to have been received: 

 

	 	25.1.1	if delivered personally, at the time of delivery; 

  

	 	25.1.2	in the case of prepaid registered post, 48 hours from the date of posting; 

 

	 	25.1.3	in the case of registered airmail, seven days from the date of posting; and 

 

	 	25.1.4	in the case of facsimile, on the date it is transmitted. 

  

	25.2	Either Party may from time to time serve notices by other classes of post, in which case such notice shall be deemed to have been received on the second day after it
was put into prepaid first class post or the fourth day after it was put into prepaid second class post. 

  

	25.3	Either Party may from time to time send communications (which for the avoidance of doubt, do not constitute formal notices for the purposes of the Contract) by email.

  

	25.4	Either Party may specify (by giving notice to the other Party in accordance with this clause 25) a particular individual or office holder to whom any notices
served are to be addressed, in which case a notice shall not be validly given unless so addressed. 

  

	26.	ENTIRE AGREEMENT 

  

	26.1	Skype (as Skype Communications SA which was subsequently changed from a public limited liability company (société anonyme) into a private limited
liability company (société en responsabilité limitée) by a shareholder resolution 14 October 2005), Bibit and the Bibit Foundation concluded a payment service agreement dated 1 June 2004 which consists of a
number of documents and subsequent amendments (“Existing Agreement”). The Parties acknowledge and agree that this Contract supersedes, invalidates and replaces the Existing Agreement as of the Effective Date save for any provisions
of the Existing Agreement which are expressly intended to survive termination thereof. 

  

	26.2	 The Contract constitutes the entire agreement and understanding between Bibit and Skype in respect of the matters dealt with in it and supersedes and
invalidates all other prior representations, arrangements, understandings and agreements relating to the subject matter of the Contract (including, without limitation, the Existing Agreement) which may have been made between Skype and Bibit either
orally or in 

	 	 
writing prior to the date of the Contract, other than any securities or written pledges, undertakings or assurances which Skype may previously have given to Bibit and, subject to and together
with such securities etc sets out the entire agreement and understanding Skype and Bibit have. 

  

	26.3	Each Party warrants that it has not relied on any representations, arrangements, understanding or agreements (whether written or oral) not expressly set out or referred
to in the Contract. The only remedy available to either Party in respect of any such representations, arrangement, understanding or agreement shall be for the breach of contract under the provisions of these Conditions. 

 

	26.4	Nothing in this clause 26 shall operate to exclude any liability for fraud. 

 

	27.	SEVERABILITY 

  

	27.1	If any provision of these Conditions is found by any court or administrative body of competent jurisdiction to be illegal, invalid or unenforceable:

  

	 	27.1.1	such illegality, invalidity or unenforceability shall not affect the other provisions of these Conditions, which shall remain in full force and effect; and

  

	 	27.1.2	if such provision would cease to be illegal, invalid or unenforceable if some part of the provision were modified or deleted, the provision in question shall apply with
such minimum modification or deletion as may be necessary to make it legal, valid and enforceable. 

  

	28.	MISCELLANEOUS 

  

	28.1	Nothing in these Conditions is intended to create a partnership or joint venture or legal relationship of any kind that would impose liability upon one Party for the
act or failure to act of the other Party, or to authorise either Party to act as agent for the other. Save where expressly stated in the Contract, neither Party shall have authority to make representations, act in the name or on behalf of or
otherwise to bind the other. 

  

	28.2	Nothing in these Conditions shall render either Party or any of their respective employees an employee of the other or render either Party or any of its employees
capable of incurring any liability or obligation on the other’s behalf, and neither Party shall hold itself out as such. 

	28.3	A Person who is not party to the Contract shall have no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any provisions of the Contract. This
clause 28.3 does not affect any right or remedy of any Person which exists or is available otherwise than pursuant to that Act. 

  

	28.4	The rights, powers and remedies provided in this Contract are (except as expressly provided) cumulative and not exclusive of any rights, powers and remedies provided by
law, or otherwise. 

  

	29.	GOVERNING LAW AND JURISDICTION 

  

	29.1	The Contract and any matter arising from or in connection with it shall be governed by and construed in accordance with English law. 

 

	29.2	Subject to clause 30, Skype and Bibit irrevocably agree that the English courts shall have exclusive jurisdiction over any claim or matter arising from or in connection
with the Contract, or the legal relationships established by or in connection with it. Accordingly, any proceedings by or against either Party in respect of such claim or matter must be brought in the English Courts. 

 

	29.3	In the event of any conflict between the English version of the Contract (or any part thereof) and any version which has been translated into any language other than
English, then the English version shall prevail. 

  

	30.	DISPUTES 

  

	30.1	In the event of any dispute between the Parties relating to the Contract (including, without limitation if Skype disputes an invoice in accordance with clause 10.3)
(“Dispute”) the Dispute shall be resolved except as expressly provided in the Contract, in accordance with the following provisions of this clause 30 (and in the case of referrals to representatives of the parties, such
representatives shall act in good faith and use bona fide efforts to attempt to resolve such dispute): 

  

	 	30.1.1	either party shall give to the other written notice of the Dispute, setting out its nature and full particulars (“Dispute Notice”), together with
relevant supporting documentation; 

  

	 	30.1.2	on service of the Dispute Notice, the Dispute shall in the first instance be referred to the dedicated Skype relationship manager and the dedicated Bibit relationship
manager; 

	 	30.1.3	if the Dispute is not resolved within 10 Working Days of its referral pursuant to clause 30.1.1, it shall be referred to Bibit’s Account Manager, and to
Skype’s Chief Operating Officer; 

  

	 	30.1.4	if the Dispute is not resolved within five Working Days of its referral pursuant to clause 30.1.3, then the Parties may take further steps as they consider appropriate
which includes commencing proceedings in accordance with clause 29. 

  

	 	30.1.5	The service of a Dispute Notice shall not: 

  

	 	30.1.5.1	prevent the Parties continuing any existing court proceedings or commencing any court proceedings in relation to any matters set out in a Dispute Notice where the
relief claim in such proceedings is for an injunction or a similar emergency remedy; or 

  

	 	30.1.5.2	prevent the Parties from exercising any rights referred to in this Contract. 

 

	31.	FORCE MAJEURE 

  

	31.1	For the purposes of this clause 31, a “Force Majeure Event” means an event, accident, omission or act, the occurrence of which is beyond the reasonable
control of either Party to this Contract, including (without limitation) the following: Act of God, war, explosions, fires, floods, tempests, earthquake, insurrection, riot, civil disturbance, rebellion, strike, lock-out or labour dispute but not a
strike, lockout or labour dispute involving the Party relying on this clause, failures in public supply of electrical power or public telecommunications equipment, failure of any machine, data processing system or transmission link.

  

	31.2	If a Force Majeure Event occurs which prevents a Party to this Contract (the “Affected Party”) from performing any of its obligations to the other (the
“Other Party”), or causes a delay in performance, subject to clause 31.5 the Affected Party shall not be liable to the Other Party and shall be released from its obligations under the Contract to the extent that its ability to
perform its obligations has been directly affected by the Force Majeure Event, provided that: 

	 	31.2.1	the Affected Party notifies the Other Party in writing as soon as reasonably practicable of the occurrence of the Force Majeure Event and the nature and likely duration
of its impact upon the Other Party; 

  

	 	31.2.2	the Affected Party takes all reasonable steps to mitigate the impact of the Force Majeure Event on the Other Party, and in particular continues to perform those
obligations affected by the Force Majeure Event to the highest standard reasonably practicable in the circumstances; 

  

	 	31.2.3	the Affected Party continues to perform all its obligations which have not been affected by the Force Majeure Event; 

 

	 	31.2.4	the Affected Party resumes normal performance of all affected obligations as soon as the impact of the Force Majeure Event ceases, and notifies the Other Party in
writing promptly of such resumption; and 

  

	 	31.2.5	if Bibit are the Affected Party and are unable to perform the Services, Bibit shall take all reasonable steps to procure the provision of replacement services
materially similar to the Services throughout the duration of the Force Majeure Event. 

  

	31.3	If the impact of the Force Majeure Event upon the Affected Party continues for a period of no less than 90 days and such delay or stoppage prevents the Other Party from
performing a substantial part of its obligations under the Contract, the Other Party may, by written notice, terminate this Contract with immediate effect and neither Party will be liable to the other for such termination. 

 

	31.4	The Parties agree that, in respect of the period during which any Force Majeure Event subsists, Skype shall not be required to pay the Fees relating to any Services
affected by the Force Majeure Event. 

  

	31.5	Nothing in this Clause 31 shall affect the rights and obligations of either party which expressly or by implication will continue to be enforceable notwithstanding the
Force Majeure Event (including, for the avoidance of doubt but without limitation, Clauses 4.10, 6, 7, 8, 10, 11, 12, 14, 15, 17, 18, 19, 20, 22, 23, 29 and 30) and shall not affect accrued rights and obligations of either Party under the Contract
as at the date of the Force Majeure Event. 

  

	31.6	 In the event that Bibit is the affected Party Bibit shall be wholly responsible for the costs and expenses of reinstating the provision of all the
Services to the Service 

	 	 
Levels following the suspension of the Services or any of them arising as a result of a Force Majeure Event. 

 SCHEDULE 1 
 Service and fee schedule 
 [NINE PAGES ARE OMITTED AS CONFIDENTIAL AND
FILED SEPARATELY 
 WITH THE SECURITIES AND EXCHANGE COMMISSION] 

 SCHEDULE 2 
 Service Level Agreement 
 SERVICE LEVEL AGREEMENT 

 

	1.	Definitions 

 “Average Response
Time” has the meaning given in paragraph 13.6 below; 
 “Backend Post Notification” means the backend response to an
order that is sent to Skype by Bibit to notify Skype of the order processing result and the payments status (authorisation, refusal, cancellation, Refund, Chargeback etc); 
 “Downtime” means the aggregate amount of time during which Bibit is unable to provide the Services; 
 “Failed Event” has the meaning given to it in paragraph 11.2 below; 

“Order Creation Authorisation” means the online response to the creation of an order that is sent to Skype by Bibit to notify Skype that
the order has been successfully accepted by Bibit and processing of the order has commenced; 
 “Response Time” means response
times set out in paragraph 9 below; 
 “Service Credits” means the amounts payable by Bibit to Skype in respect of Bibit’s
failure to meet the Service Levels, as set out in paragraph 10; 

 “Service Levels” means a level to which any of the Services is to be performed, as
described in this Service Level Agreement or as otherwise agreed by the Parties; 
 “Successful Transaction” has the meaning
given in paragraph 13.2 below. 
 “Transaction Success Rate” has the meaning given in paragraph 13.1 below. 

“Unsuccessful Transaction” has the meaning given in paragraph 13.3 below. 
 “Uptime” has the meaning given to it in paragraph 2.1 below. 
  

	2.	Calculation of Availability 

  

	2.1	Bibit shall ensure that the Services shall be available for no less than 99.7% per calendar month (“Uptime”). 

 

	2.2	For the purposes of calculating availability of the Services, the Uptime and Downtime shall not include any period of Downtime that is the result of scheduled
maintenance (including preventative maintenance and hardware of software upgrades), provided that such maintenance is carried out in accordance with paragraph 12 below. 

 

	3.	Co-location facility 

 Bibit will host its Transaction processing systems at a secure data centre facility whose
services include redundant and multi-horned internet connectivity, redundant power with backup generators, temperature control and fire suppression systems. 
  

	4.	Security Procedures 

  

	4.1	Bibit shall be exclusively responsible for determining and maintaining all levels of security residing on Bibit’s hardware or systems. In the event of any conflict
between Skype’s and Bibit’s security systems rendering either parties’ connection to the other incompatible, both parties agree to mutually resolve the incompatibility in good faith and in accordance with governing standards.

  

	4.2	Bibit agrees that the security provided at Bibit’s end of the connection shall not allow unauthorised traffic to pass into Bibit’s networks.

  

	4.3	Bibit agrees that any Skype server access required by Bibit’s staff through outside security products will be in a READ-ONLY mode unless there has been prior,
written approval of a security plan for more intrusive access. 

  

	4.4	Bibit agrees there will be no extraneous access into or use of protocols in Skype’s system from platforms other than those in the current configuration. Any
changes to the system configuration related to Bibit’s system access will not be implemented without the prior written and authorised approval of Skype. 

 

	4.5	Bibit agrees to maintain an alert status regarding all reasonably known vulnerabilities and security patches or corrective actions through an industry-recognized
service issuing security advisories. Bibit will adhere to the strictest security provisions related to the Internet. If any potential security loopholes are identified, by whatever means, including, but not limited to, external security audits,
Bibit will mitigate the risk. 

  

	4.6	 Bibit shall maintain a documented disaster recovery plan in accordance with clause 4.10 of the Contract. The disaster recovery plan shall include, but
not be limited to, a 

 
business continuity plan and the provision of a co location facility. Such business continuity plan will address actions to be taken in the event of an extended outage of service (such an outage
could be caused by a number of events ranging from technical hardware/software/network related malfunctions to a catastrophic disaster) in order to ensure the continuity of Bibit’s processes and procedures. 

 

	5.	Contact Information 

Each party will provide to the other any email addresses and telephone numbers of the relevant personnel to contact for resolution of
operational issues between Bibit and Skype, as such may be changed from time to time by either party on written notice to the other. Specific contact details are documented in Appendix 1. 

 

	6.	Product Documentation 

Bibit will provide Skype with access to all applicable documentation relating to the Services on Bibit’s website. 

 

	7.	24x7 monitoring 

  

	7.1	Bibit will monitor and maintain the Bibit payment server 24 hours a day, 7 days a week, 365 days a year, from its networks operations centre for all of the systems
within Bibit’s control required to maintain the Services. Such monitoring shall include, but not be limited to, the monitoring of hardware, CPU utilisation levels, storage utilisation, network utilisation, certain application level criteria, on
going automated observations to manual checkpoints performed by Bibit. 

  

	7.2	The monitoring referred to in paragraph 7.1 above shall be performed on the following components of Bibit’s operating system: 

	 	(i)	Telecommunications/networks; 

  

	 	(ii)	Servers: includes application, database and web servers (both production and failover); 

 

	 	(iii)	Systems: includes core systems software; 

  

	 	(iv)	Applications: includes Bibit’s software; 

  

	 	(v)	Data: includes processing data from applications and data transfers from Bibit to acquiring banks and associations; 

 

	 	(vi)	Batch environment; 

  

	 	(vii)	All files exchanged with Skype; and 

  

	 	(viii)	Key Transaction metrics listed below. 

  

	7.3	The functional scope of monitoring will include : 

  

	 	(i)	authorisations – network connectivity, expected volume thresholds, expected decline rates, expected message types; and 

 

	 	(ii)	settlement – number of files, number of Transactions, non receipt of file(s), duplicative file checking. 

 

	8.	Support 

  

	8.1	Hours of Support 

 Bibit will
provide support 24 hours a day, 7 days a week, 365 days a year to ensure that the Service Levels are met. Support shall be provided in accordance with the table set out in paragraph 9. 

The emergency email address is available 24/7, 7 days as week, 365 days a year. 

 Telephone support is accommodated Monday to Saturday 8am to 8pm GMT through the support
telephone number +44 870 366 1297 and this number will soon be moving to follow-the-sun 24 hours/ 6 days a week. 
  

	8.2	Escalation path 

 Bibit shall
ensure that a clearly defined communication and decision making path will be in place to support problem resolution. 
  

	8.3	Account/partner management 

  

	 	(i)	Bibit shall provide dedicated account managers who are familiar with the business, operational, and technical aspects of the Services. 

 

	 	(ii)	Bibit and Skype will conduct weekly (or such other frequency as may be agreed between the parties) conference calls to review: 

 

	 	•	 	 All known and outstanding issues/problems; 

  

	 	•	 	 Product enhancements planned by either party; 

  

	 	•	 	 Systems changes/upgrades and applicable launch schedules; 

 

	 	•	 	 After the fact reports on problem(s) resolution; 

  

	 	•	 	 Review the change management spreadsheet for the coming 2 weeks; 

 

	 	•	 	 Review any open research requests; and 

  

	 	•	 	 Discuss the status of any open projects. 

  

	8.4	Bibit and Skype will conduct quarterly (or at such other frequency as may be agreed between the parties) conference calls to review Bibit’s compliance with the
Service Levels.

	8.5	Bibit shall identify the cause of any breach of the Service Levels and express the corrective measures taken or that may be taken to prevent the reoccurrence of said
breach. 

  

	8.6	Problem Tracking: 

  

	 	(i)	Problems and service requests are logged and classified and records of all problems (including full details of their resolution) and service requests shall be kept by
Bibit and shall be made available to Skype on request as soon as reasonably practicable after such request. 

  

	 	(ii)	Problem management timeframes will be tracked for initial notification of problem, who was notified of the problem, notification time to Skype, communication update
time intervals, problem identification, problem temp fix and problem permanent fix. 

  

	 	(iii)	Bibit will endeavour to provide reporting, for the regular meetings, of each incident. 

 

	9.	Response times 

  

	9.1	Upon Bibit’s receipt of an error report detailing the severity level from Skype, Bibit will take corrective action so as to remedy the problem within the following
time schedule: 

  

					
	 Severity
Level

 
	  	 Description

 
	  	 Response Time

 

	Critical    	  	 Critical component is down. Major
impact to Skype’s business – data corruption or loss of data. No workarounds exists. Skype to contact Bibit via phone in lieu of sending electronic mail. This includes (without limitation) any failure that prevents completion of
Transactions.
  
	  	Immediately to within 2 
hours

					
	Medium    	  	 Critical component is degraded.
There is time-sensitive issue that impacts ongoing production and there is significant concern. Workaround exists, but it is only temporal. Skype may phone or send electronic mail.

 
	  	Within 4 hours or 2 business hours
(whichever is earlier)
	Minor	  	 Non-critical components down or degraded. Does not have
significant current production impact - performance related. Skype to contact Bibit via electronic mail in lieu of calling.
  
	  	Within 24 hours

 

	9.2	The time periods specified for problem resolution in the foregoing table start to run from the time that either Skype notifies Bibit by telephone that a problem has
occurred or if Bibit notifies Skype, whichever occurs first. 

  

	9.3	Bibit will endeavour to provide an initial report within 5 Working Days and a final report within 10 Working Days from the close of the incident. Such reports shall
include: description of incident, communication timeline, restoration activity timeline, root cause analysis, detailed description of permanent fix, including analysis of why permanent fix will prevent reoccurrence of issue.

  

	9.4	Additional reporting and escalation requirements are set out in ‘Reporting and escalation’ document attached hereto as Appendix 1. 

 

	10.	Service Credits 

	10.1	The Service Levels represent the minimum performance levels which are required of Bibit in respect of its obligations under this Contract. 

 

	10.2	Subject to the remaining provisions of this Service Level Agreement and the Contract, in the event that Bibit fails to comply with any Service Levels then Bibit shall
without prejudice to any other rights and remedies of Skype, pay to Skype Service Credits calculated in accordance with paragraph 10.5 below. 

  

	10.3	Where the Service Credits exceed the thresholds for termination specified in paragraph 11 below, paragraph 10.5 shall no longer apply and Skype shall be entitled to
claim damages at large in respect of Bibit’s default. 

  

	10.4	The rights, powers and remedies provided in this Agreement are (except as expressly provided) cumulative and not exclusive of any rights, powers and remedies provided
by law, or otherwise. 

  

	10.5	The amounts payable in respect of a breach of any of the following Service Levels shall be as follows: 

 

					
	 Service Level

 
	  	 Breach of Service Level

 
	  	 Deduction of corresponding
monthly Fee
amount
  

	
Downtime (on a   monthly basis)

 
	  	 7,20 – 15 hrs

 
	  	
15%
  

	 	  	 15 – 20 hrs
  
	  	 30%
  

	 	  	 20 – 30 hrs

 
	  	
45%
  

	 	  	 30+ hrs

 
	  	 100%

 

  

	10.6	For the avoidance of doubt Skype shall not, in any circumstances, be entitled to deduct Service Credits from any amounts due from Skype to Bibit other than Fees.

	11.	Termination 

  

	11.1	Skype may terminate this Contract with immediate effect upon notice to Bibit if: 

 

	i)	Bibit fails to achieve the Uptime for 3 consecutive calendar months; or 

  

	ii)	a Failed Event occurs during three consecutive calendar months (which may either be a different Failed Event occurring on each occasion or the same Failed Event); or

  

	iii)	any six Failed Events occur in any 12 month period (which may either be a different Failed Event occurring on each occasion or the same Failed Event).

  

	11.2	For the purposes of this Agreement “Failed Event” means: 

  

	i)	failure to comply with any of the response times in the table in paragraph 9; or 

 

	ii)	failure to comply with any of the processing performance Service Levels in paragraph 13 below. 

 

	12.	Scheduled Maintenance and Application Releases 

  

	12.1	Any scheduled maintenance to the system application and/or infrastructure that causes an outage to one or more distinct service components thus impacting the Services
shall be limited to a maximum of ten hours per calendar month, subject to no less than 5 Working Days written notice to Skype. 

  

	12.2	 New software releases (if and when required) are scheduled at a maximum of once each month. This does not affect payment processing, but will result in
an average of 1 - 2 hours unavailability of Skype Interface and some specific central 

	 	 
processing (including but not limited to Order Inquiries, Order Modifications, PayAsOrder). When a new release is being implemented, service outage to support the procedure is routinely scheduled
to start at 06.00 CET / 06.00 CEST (Daylight Saving Time) on a Wednesday morning, and will be notified in advance to Skype. 

  

	12.3	Regular software patches (if and when required) are scheduled at a maximum of once every two weeks. This will not affect payment processing but will result on average
in 5 - 10 minutes unavailability of Skype Interface and some specific processing (including but not limited to Order Inquiries, Order Modifications, PayAsOrder). When a new patch is being implemented, service outage to support the procedure is
routinely scheduled to start at 06.00 CET / 06.00 CEST (Daylight Saving Time) on a Thursday morning and will only be notified in advance to Skype if there is a material change in functionality. 

 

	12.4	Emergency software patches (if and when required) can happen at any moment in time. This will not affect payment processing but will result on average in 5 - 10 minutes
unavailability of Skype Interface and some specific processing (including but not limited to Order Inquiries, Order Modifications, PayAsOrder) and will NOT be notified in advance to Skype 

 

	13.	Processing Performance 

Transaction Success Rate 
  

	13.1	For the purposes of this Service Level Agreement the “Transaction Success Rate” shall be the success rate for the processing of Transactions, calculated as
follows: 

 (Total successful Transactions – unsuccessful Transactions)/Total successful Transactions.

  

	13.2	A “Successful Transaction” is a Transaction that has been generated by Skype to Bibit and for which Skype received the following responses:

	 	i)	AUTHORISED, CAPTURED, SETTLED - Skype sent the Transaction out and Bibit responded with a payment success notification. 

 

	 	ii)	REFUSED - Skype sent the Transaction out and Bibit responded with a payment rejection. This will happen when the Acquirer or issuer declines the Transaction or the
Customer order fails the Bibit fraud checks, and cannot be processed as a successful payment. 

  

	 	iii)	CANCELLED - Skype sent the Transaction out and Bibit responded with a payment success notification after which the Transaction fails Skype fraud checks. This will
happen if Customer order fails Skype fraud checks and Skype cancels authorisation and further handling of the payment. 

  

	 	iv)	REFUNDED - Skype sent the Transaction out and Bibit responded back with payment success. 

 

	13.3	An “Unsuccessful Transaction” is a Transaction that has been generated by Skype to Bibit via successful communication link and Skype receives a response which
doesn’t match with the responses stipulated in clause 13.2 or indicates system error from Bibit side or Skype did not receive any response back from Bibit. 

 

	13.4	 Transactions that were sent by Skype to Bibit that were unsuccessfully processed by a non-controlled 3rd party (eg. Visa, acquiring bank, issuing bank or network providers
if a partner bank does not support alternative connection methods/protocols for real-time processing) will not be included in the success rate calculation. 

 Transaction Authorisation Response Time 
  

	13.5	The Transaction authorisation response time shall be the period from the time Bibit receives an authorisation message until a valid response is sent back to Skype by
Bibit. 

  

	13.6	The average Transaction authorisation response time shall be measured by calculating the time taken by Bibit to send an Order Creation Authorisation and the time taken
to send a Backend Post Notification, both of which shall be calculated in accordance with paragraph 13.8 below (“Average Response Time”). 

  

	13.7	The Average Response Time for Bibit to send an Order Creation Authorisation to Skype shall not exceed an average of thirty (30) seconds on 100% of all Transaction
requests. The Average Response Time for Bibit to send a Backend Post Notification shall not exceed an average of fifteen minutes from the order creation time on 100% of all Transaction requests, measured in 5 minute intervals. Bibit shall endeavour
that the Order Creation Authorisation is sent to Skype at least five (5) seconds before the Backend Post Notification. 

	13.8	The Average Response Time is measured and reported by tracking the entry and exit time for Skype Transactions by the Bibit application servers.

  

	13.9	Bibit’s internal network response time will be considered part of the Average Response Time. 

 

	13.10	Network response time or application related issues external to Bibit’s (e.g. Visa, acquiring bank and/or Issuer) will be omitted from the measurement of the
Average Response Time. 

 Measurement and Reporting 

 

	14.	Test Environment 

  

	14.1	Bibit will provide Skype with access to a test environment to allow development and testing with Skype systems outside of the production environment with minimal effect
on the end user. The Bibit test environment must be at the same released code level as the production environment, except in the case where changes will be made to the test environment ahead of changes to the production environment. This will allow
Skype to schedule and effect the changes necessary to support the proposed changes to the Bibit production environment. 

  

	14.2	Bibit shall endeavour to provide Skype with test details for payment methods supported by Bibit, such details to include Card or bank account numbers required to
replicate real payment situations. Bibit shall endeavour to provide Skype with the facility to replicate all situations that may arise in the production environment (authorisation, capture and settlement of payment, rejection, technical failure,
payment cancellation, refund and chargeback) and shall ensure that the test environment replicates the live environment of the Services at all times. 

  

	14.3	 Bibit shall use reasonable endeavours to have the system test environment available for unattended testing on a 24x7 basis. Bibit and Skype will
exchange documentation that details each party’s test environment relative to Bibit processing. Skype can use existing test credit card numbers for sending test Transactions in the test environment, as the test environment will never capture

	 	 
payments nor send payment details. The test environment is hosted in a secure environment. Bibit will provide an account manager as point of contact for Bibit during the integration process.
Bibit must provide at least 14 days written notice of pending changes to the test environment. Skype’s engineering department will submit operational issues with the Bibit integration environment to Bibit 24x5 operational staff (support desk,
via email and/or telephone), and Bibit will respect the support levels set out in this Service Level Agreement. 

  

	15.	New Releases 

 Bibit will
propose an upward compatible release to Skype. Skype will be informed of new features and functionality through the Bibit Support webpages (http://www.bibit.com/support/) and through the Account Manager that Bibit assigns to Skype, through
the support department and through the newsletter which Bibit will sent to Skype whenever a new release is being announced. 
  

	16.	Reporting 

 Bibit is
providing reports based on the reporting requirements set out in the ‘Reporting’ document attached hereto as 

Appendix 1. 
  

	17.	Emergency Power 

 Bibit
will protect all core systems with emergency power systems with at least twelve hours of capacity. Bibit will have on-line generator power available to power all core systems if the duration of the emergency outlasts emergency battery capacity.

  

	18.	Backups 

 Bibit will
conduct daily incremental backups and weekly offsite backups of all of Skype’s applications. Copies of database information are saved at three geographically separated locations. 

	19.	Skype interface 

 Bibit
will provide Skype with access to Skype interface, a web-based, secure tool for researching the status and history of individual Transactions. 

 APPENDIX 1 
 Reporting 
 [FIVE PAGES ARE OMITTED AS CONFIDENTIAL AND FILED SEPARATELY
WITH 
 THE SECURITIES AND EXCHANGE COMMISSION] 

 AS WITNESS the hands of the Parties or their respective duly authorised representatives the day and
year first above written 
  

									
	 Signed for and on behalf of BIBIT BV, a
company incorporated in the Netherlands, by

KARIN KLEEREBASEM being a person who, in
accordance with the law of that territory, is
acting under the authority of the company:
	 	)
 )
 )
 )
 )
 )
 )
 )
 )
	  		  	Signature	  	 /s/ KARIN KLEEREBASEM

		 		  		  		  	Authorised signatory
					
		 		  		  	Date	  	 14th of August, 2009

	 Signed for and on behalf of SKYPE
COMMUNICATIONS SARL, a

 company incorporated under the laws of

 the Grand Duchy of Luxembourg , by
PETER
FOULDS being a person who, in accordance
with the law of that territory, is acting under
the authority of the company:

	 	)
 )
 )
 )
 )
 )
 )
 )
 )
	  		  	Signature	  	 /s/ PETER FOULDS

		 		  		  		  	Authorised signatory
					
		 		  		  	Date	  	 6th of August, 2009Paypal Payment Processing Agreement dated as of June 3, 2010

 Exhibit 10.11 
 THE SYMBOL [***] IS USED TO INDICATE THAT A PORTION OF THIS EXHIBIT HAS BEEN OMITTED AS CONFIDENTIAL AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ADDENDUM 2 OF THIS EXHIBIT HAS
BEEN OMITTED AS CONFIDENTIAL AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 

 

 PAYMENT PROCESSING AGREEMENT 
 THIS AGREEMENT is made by and between: 
 PayPal (Europe) Sàrl &
Cie, SCA (“PayPal”), a limited liability partnership registered as number R.C.S. Luxembourg
 B 118 349, and having a registered office at 22-24 Boulevard Royal, L-2449, Luxembourg, and 

Skype Communications Sàrl (“Skype” or “you”), a Luxembourg limited company with its
principal place of business at 22/24 Boulevard Royal, L 2449 Luxembourg. 
  

	1.	SERVICES FROM PAYPAL 

ONLINE PAYMENT FUNCTIONALITY 
  

	 	1.1.	Services. PayPal agrees to provide Skype with the Services and which (for example) enable a PayPal user to: 

 

	 	(a)	make payments from the user’s PayPal Account via a web browser, 

  

	 	(b)	receive payments from the PayPal Accounts of other users, and 

  

	 	(c)	manage the user’s PayPal Account using a web browser interface. 

 The Services also include: 
  

	 	(d)	PayPal’s standard Chargeback processing services for PayPal payments; 

 

	 	(e)	PayPal providing Skype with the following reports (in accordance with its standard reporting processes): 

 

	 	(i)	Transaction report: transactions occurring in Skype’s Covered Accounts; 

 

	 	(ii)	Settlement report: credit and debits occurring in Skype’s Covered Accounts; and 

 

	 	(iii)	Dispute report: Chargebacks/disputes transactions posted to Skype’s Covered Accounts. 

 

	 	1.2.	Covered Accounts. This Agreement applies to the following PayPal Accounts (the “Covered Accounts”): 

 

	
	Account Identifier
	  

[***] Certified Software Account

	  

[***] Prime Account

	  

[***] Top-up payments

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 1

	
	  

[***] Certified hardware account

	  

Account number to be confirmed – Pro account

	  

Account number to be confirmed – Settlement account

 Additional Covered Accounts may be added to this list by amending this Agreement. The restriction in clause 2.2 of the User Agreement prohibiting the holding of more than one PayPal Account shall not
apply to this Agreement and is replaced by this clause 1.2. 
  

	 	1.3.	Previous agreements terminated. This Agreement supersedes the previous arrangements in place with respect to any PayPal group company offering payment services
to Skype, including the terms of the General Services Agreement made between Skype and PayPal Inc. dated 30 March 2007. The parties agree that the General Services Agreement has been terminated. 

IMPLEMENTATION 
  

	 	1.4.	Generally. For each Covered Account, Skype agrees to adapt its relevant web site in order to enable web users to pay for Skype’s products and services by
means of the Services. All of Skype’s user interfaces that include the PayPal brand and/or describe the Services shall be subject to the prior written approval of PayPal. 

 

	 	1.5.	APIs and other code. PayPal will provide to Skype and maintain certain software, application program interfaces (APIs), buttons and codes including, if
commercially viable to PayPal (as determined by PayPal in its sole discretion), the PPIC checkout flow in the Skype for Windows client to activate web-based functions, and other tools to facilitate use of the Services. All software provided by
PayPal to Skype is subject to the licences provided in this Agreement, except in the case of Website Payments Pro, which is provided pursuant to the next clause. 

 

	 	1.6.	Website Payments Pro. In addition to the basic software, APIs and buttons provided pursuant to the preceding clause, PayPal will arrange to provide to Skype the
software and online functionality described on the PayPal Website as Website Payments Pro. Website Payments Pro will be licensed separately in the PayPal Website Payments Pro Agreement in accordance with clause 5.3 of Addendum 1 and such agreement
will apply to Skype’s use of that service. 

  

	 	1.7.	Express Checkout. As part of Website Payments Pro, PayPal will provide to Skype the functionality described on the PayPal Website as Express Checkout.

  

	 	1.8.	Presentation Requirements required for Skype implementation. To implement the Services and to receive the Special Pricing or Special FX Pricing fee rates (as the
case may be) Skype must comply with the relevant provisions of clause 2. This includes, without limitation, Skype agreeing to, and at the least complying with the implementation of the requirements (the “Presentation Requirements”)
set out in paragraph 2 of the Statement of Work attached as Addendum 2 to this Agreement. All other paragraphs of the Statement of Work attached as Addendum 2 to this Agreement are not part of the Presentation Requirements but are additional details
relating to processing of transactions by PayPal and Skype, and are not legally binding (provided for illustrative purposes only). 

  

	 	1.9.	Skype checkout. Skype agrees to use commercially reasonable efforts to engage and seek input from PayPal if Skype changes, or intends to change, its checkout
flow of its website(s) (“Skype Checkout Change”). Further, if there is a proposed Skype Checkout Change, Skype further agrees to use commercially reasonable efforts to comply with PayPal’s reasonable requests with a view to
ensuring that the Services are implemented in a manner acceptable to PayPal and within the spirit and principles of the Presentation Requirements. 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 2

	2.	FEES 

 2.1 Fee clause
definitions 
 For the purpose of this clause 2, the following terms are defined as follows: 

(a) Special Pricing: means the fees and charges set out in clause 2.5, but excludes the Special FX Pricing. 

(b) Special FX Pricing: means the currency conversion fees set out in clause 2.6. 

(c) Pro Integration: means the implementation by Skype of the PayPal Website Payments Pro product and service (“PayPal
Website Payments Pro”) in the manner described by the Website Payment Pro integration guide described in the Statement of Work. 
 (d) Minimum Volume: means the utilisation by Skype (including, where relevant, its Affiliates) of PayPal Website Payments Pro for an amount (in number, not value) equal to [***] of the total of all
Skype card (credit or debit) transactions. 
 2.2 Skype will be liable to, and will pay PayPal the Special Pricing fees on
and from the Effective Date if Skype have implemented and maintained the Presentation Requirements. If Skype have not implemented and maintained the Presentation Requirements, Skype agrees to pay to PayPal the fees prescribed for business accounts
in the User Agreement and the PayPal Website Payments Pro Agreement. 
 2.3 Subject to clause 2.4, Skype will be liable
to, and will pay PayPal the Special Pricing fees as amended by the Special FX Pricing fees if Skype have implemented, met and maintained the: 
  

	 	(a)	Presentation Requirements; and 

  

	 	(b)	Pro Integration; and 

  

	 	(c)	Minimum Volume. 

 If Skype has
met and maintained the condition set out in 2.3(a), but not any of the conditions in 2.3(b) or 2.3(c), Skype agrees to pay PayPal the Special Pricing Fees (as set out in clause 2.2). 

If Skype has not met and maintained the condition set out in 2.3(a) and has not met and maintained any or all of the conditions set out in
clause 2.3 (b), or (c), Skype agrees to pay to PayPal the fees prescribed for business accounts in the User Agreement and the PayPal Website Payments Pro Agreement. 
 2.4 Minimum Volume 
  

	 	(a)	 Skype agrees to notify PayPal in writing when it has met the Minimum Volume, including evidence of the same (“Minimum Volume Notice”).
Upon receipt of the Minimum Volume Notice, PayPal will notify Skype within 5 Business Days whether it 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 3

	 	 
agrees or disagrees that Skype has met the Minimum Volume (“Minimum Volume Response Notice”). 

 

	 	(b)	If PayPal has issued a Minimum Volume Response Notice to Skype that agrees that Skype has met the Minimum Volume, then for a period commencing on the date such notice
is issued until the end of the applicable Quarter, Skype warrants and undertakes to maintain at least the Minimum Volume (“Initial Minimum Volume Period”). If PayPal, based on evidence, believes that the Minimum Volume is not being
met during the Initial Minimum Volume Period, then PayPal will issue a further Minimum Volume Response Notice to Skype setting out that PayPal disagrees that the Minimum Volume has been met. Upon issue of such notice, the Initial Minimum Volume
Period shall be deemed not to have commenced. 

  

	 	(c)	If PayPal issues a Minimum Volume Response Notice which provides that PayPal disagrees that Skype has met the Minimum Volume and this is not accepted by Skype, then the
parties agree to resolve any dispute in accordance with the dispute resolution procedure set out in clause 13.30 and in the case of PayPal, it may elect (alternatively or concurrently) to carry out an audit as set out in clause 2.4(g).

  

	 	(d)	Subject to clause 2.4(f) and provided that the conditions set out in clause 2.3 have been met; if PayPal has issued a Minimum Volume Response Notice agreeing that the
Minimum Volume has been met, and the issue of whether the Minimum Volume has been met is not being disputed, Skype will be liable to, and will pay PayPal the Special Pricing fees as amended by the Special FX Pricing fees on and from the first day
following the expiry of the Initial Minimum Volume Period. 

  

	 	(e)	Upon the expiry of each Quarter following the Initial Minimum Volume Period, Skype will issue a Minimum Volume Notice to PayPal setting out whether or not it has
continued to maintain the Minimum Volume during that relevant Quarter (“Quarterly Minimum Volume Notice”). Skype will not be entitled to receive the Special Pricing as amended by the Special FX Pricing if it fails to deliver the
Quarterly Minimum Volume Notice. 

  

	 	(f)	Upon receipt of the Quarterly Minimum Volume Notice, PayPal will notify Skype within 5 Business Days with a Minimum Volume Response Notice. If the conditions in 2.4(d)
continue to be met, then Skype will continue to be liable to, and will pay PayPal the Special Pricing fees as amended by the Special FX Pricing fees. If the conditions in 2.4(d) are not met, subject to clause 2.2 (Skype maintaining its compliance
with the Presentation Requirements), Skype will be liable to, and will pay PayPal the Special Pricing fees. 

  

	 	(g)	 If Skype claim that the Minimum Volume is being met in order to receive preferential pricing under this Agreement, Skype shall permit PayPal (or its
duly authorised representatives) during the term of this Agreement, to audit Skype’s procedures, controls, records and/or performance to satisfy PayPal that Skype is complying with the Minimum Volume. The parties agree to in good faith as soon
as reasonably practicable after the Effective Date a plan setting out the audit procedures that are required to be performed to carry out such an audit to the benefit of both parties. Skype agree to co-operate in any such audit on reasonable
request, provided that any valid and reasonably incurred expenses incurred by Skype shall be re-imbursed by PayPal (except where PayPal uncovers a 5% deviation in the required Minimum Volume commitment and either Skype’s compliance with such
Minimum Volume or the Initial Minimum Volume Notice or Quarterly Minimum Volume Notice (as the case may be) (in which case, the valid and reasonably incurred expenses incurred by PayPal in respect of the relevant audit shall be paid by Skype)). Each
person conducting or participating in such audit shall be required to sign a non-disclosure 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 4

	 	 
agreement in such reasonable form as is agreed by the parties and shall have access only to such records as may directly relate to this Agreement. 

 

	 	(h)	Nothing in this Agreement shall prohibit Skype to utilise PayPal Website Payments Pro in an amount greater than the Minimum Volume. Skype undertakes that it shall use
PayPal Website Payments Pro in relation to a representative section of the total transactions it carries out and shall not seek to use PayPal Website Payments Pro solely or predominately for specific types of transactions which would or might
reasonably be expected to expose PayPal to an increased risk of Chargebacks, fraud or card scheme fees or fines. 

2.5. Special Pricing If Special Pricing applies, Skype will be liable to, and will pay PayPal all the fees and charges as set out
in the fee table below. The following table lists those events which Skype will be liable to PayPal for a fee (a “Chargeable Event”), together with fee charged for each Chargeable Event 

 

							
	 	  	 Chargeable Event
	 	 Fee amount (see Notes below)

	1	  	Receiving a commercial transaction payment via Express Checkout (domestic or cross-border)	 	[***]
			
	2	  	Receiving a commercial transaction payment via Direct Payment API or Virtual Terminal (domestic or cross-border)	 	[***]
			
	3	  	Sending a commercial transaction payment (buying)	 	[***]
			
	4	  	 Currency Conversion
  

If your transaction involves a currency conversion, it will be completed at a foreign exchange rate determined by a financial institution, which is
adjusted regularly based on market conditions. The exchange rate is adjusted regularly and may be applied immediately and without notice to you. This exchange rate includes a [***] processing fee above the wholesale exchange rate at which PayPal
obtains foreign currency, and the processing fee is retained by PayPal.
	 	 [***]
  

The “Currency Converter” tool can be accessed through your Covered Account(s) and used to see what exchange rates apply at any given
time.

			
	5	  	 Chargeback Settlement Fee: when a Chargeback is received relating to a payment.

 
 To cover the cost of processing Chargebacks, PayPal assesses a Settlement Fee to
sellers for credit and debit card payment Chargebacks. (A Chargeback may occur when a buyer rejects or reverses a charge on his or her card through the card issuer).
  

The Chargeback Settlement Fee is payable only once by Skype if multiple Chargebacks are received for the same payment transaction.

 
 The Chargeback Settlement Fee is not payable for a Chargeback issued against a
payment which had already been reversed before the Chargeback was received.
  

If Skype wins a Chargeback dispute, the Chargeback Settlement Fee is still payable, however, this Fee does not apply if the transaction is covered by
PayPal’s Seller Protection Programme.
	 	The Chargeback Settlement Fee is as follows and is based on the currency received as follows:
	  	 	  
 Argentine Peso:
	  	  
 [***] ARS

	  	 	  
 Australian Dollar:
	  	  
 [***] AUD

	  	 	  
 Brazilian Real:
	  	  
 [***] BRL

	  	 	  
 Canadian Dollar:
	  	  
 [***] CAD

	  	 	  
 Czech Koruna:
	  	  
 [***] CZK

	  	 	  
 Danish Koruna:
	  	  
 [***] DKK

	  	 	  
 Euro:
	  	  
 [***] EUR

	  	 	  
 Hong Kong Dollar:
	  	  
 [***] HKD

	  	 	  
 Hungarian Forint:
	  	  
 [***] HUF

	  	 	  
 Israeli Shekel:
	  	  
 [***]
ILS

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 5

							
		  		 	  
 Japanese Yen:
	  	  
 [***] JPY

		  		 	  
 Mexican Peso:
	  	  
 [***] MXN

		  		 	  
 New Zealand Dollar:
	  	  
 [***] NZD

		  		 	  
 Norwegian Krone:
	  	  
 [***] NOK

		  		 	  
 Philippine Peso:
	  	  
 [***] PHP

		  		 	  
 Polish Zlotych:
	  	  
 [***] PLN

		  		 	  
 Singapore Dollar:
	  	  
 [***] SGD

		  		 	  
 Swedish Krona:
	  	  
 [***] SEK

		  		 	  
 Swiss Franc:
	  	  
 [***] CHF

		  		 	  
 Taiwan New Dollar:
	  	  
 [***] TWD

		  		 	  
 Thai Baht:
	  	  
 [***] THB

		  		 	  
 U.K. Pounds Sterling:
	  	  
 [***] GBP

		  		 	  
 U.S. Dollar:
	  	  
 [***] USD

			
	6	  	Sending Payments through PayPal Mass Payments	 	[***] (a maximum payment cap per payment applies as follows, based on payment currency):
	  	 	  
 Argentine Peso:
	  	  
 [***] ARS

	  	 	  
 Australian Dollar:
	  	  
 [***] AUD

	  	 	  
 Brazilian Real:
	  	  
 [***] BRL

	  	 	  
 Canadian Dollar:
	  	  
 [***] CAD

	  	 	  
 Czech Koruna:
	  	  
 [***] CZK

	  	 	  
 Danish Koruna:
	  	  
 [***] DKK

	  	 	  
 Euro:
	  	  
 [***] EUR

	  	 	  
 Hong Kong Dollar:
	  	  
 [***] HKD

	  	 	  
 Hungarian Forint:
	  	  
 [***] HUF

	  	 	  
 Israeli Shekel:
	  	  
 [***] ILS

	  	 	  
 Japanese Yen:
	  	  
 [***] JPY

	  	 	  
 Mexican Peso:
	  	  
 [***] MXN

	  	 	  
 New Zealand Dollar:
	  	  
 [***] NZD

	  	 	  
 Norwegian Krone:
	  	  
 [***] NOK

	  	 	  
 Philippine Peso:
	  	  
 [***] PHP

	  	 	  
 Polish Zlotych:
	  	  
 [***] PLN

	  	 	  
 Singapore Dollar:
	  	  
 [***]
SGD

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 6

							
		  		 	  
 Swedish Krona:
	  	  
 [***] SEK

		  		 	  
 Swiss Franc:
	  	  
 [***] CHF

		  		 	  
 Taiwan New Dollar:
	  	  
 [***] TWD

		  		 	  
 Thai Baht:
	  	  
 [***] THB

		  		 	  
 U.K. Pounds Sterling:
	  	  
 [***] GBP

		  		 	  
 U.S. Dollar:
	  	  
 [***] USD

			
	7	  	 Authorisation Fee: for each successful but uncaptured authorisation transaction via the Direct Payment API or Virtual
Terminal
  
 This fee will not be payable if:

 
 (a) in the scope of offering a trial or a promotion for a
commercial Skype product (such as a subscription but not limited to a subscription), where Skype needs to verify the account/payment card (such a card that is processed by PayPal as part of PayPal Website Payments Pro) at the time of giving the
trial or promotion and the user will be charged at a later time. Authorisation will be cancelled/voided by Skype after the verification.
  

(b) in the scope of allowing to change the funding source or to set a backup funding source for a recurring payment agreement (such as
a subscription but not limited to a subscription), where Skype requires to verify the said account/payment card which is processed by PayPal as part of its PayPal Website Payments Pro product and services at the time of funding source change.
Authorisation will be cancelled/voided by Skype after the verification; or
  
 (c) where the authorisation is declined/rejected by PayPal or PayPal’s acquirer.
	 	[***] GBP

 Fixed
Fee 
  

							
	 Argentina Peso:
 Australian
Dollar:
 Brazilian Real:
 Canadian
Dollar:
 Czech Koruna
 Danish
Kroner:
 Euro:
 Hungarian
Forint:
 Hong Kong Dollar:
 Israeli New
Shekels:
 Japanese Yen:
	  	[***] ARS
 [***] AUD

[***] BRL
 [***] CAD

[***] CZK
 [***] DKK

[***] EUR
 [***] HUF

[***] HKD
 [***] ILS

[***] JPY
	  	 Malaysian Ringgit:
 Mexican
Peso:
 New Zealand Dollar:
 Norwegian
Krone:
 Phillipinne Peso:
 Polish
Zlotych:
 Singapore Dollar:
 Swedish
Kronor:
 Swiss Franc:
 Taiwan
Dollar:
 Thai Baht:
 UK Pounds
Sterling:
 US Dollar:
	  	[***] MYR
 [***] MXN

[***] NZD
 [***] NOK

[***] PHP
 [***] PLN

[***] SGD
 [***] SEK

[***] CHF
 [***] TWD

[***] THB
 [***] GBP

[***] USD

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 7

 Notes: 
  

	 	•	 	 The fee is calculated as an amount equal to the amount of the applicable percentage as applied to the payment amount (together with the Fixed Fee, if
one applies). The Fixed Fee is the amount set out in the table above that corresponds to the currency of that payment. 

  

	 	•	 	 “commercial transaction” (see Chargeable Events 1-3) involves buying and selling goods and services, or payments received when Skype
“request money” using PayPal 

  

	 	•	 	 Skype acknowledges and agrees that it will not send or receive personal payment transactions (as defined by Clause 8 of the User Agreement).

  

	 	•	 	 The above fees do not include receiving payments via PayPal Website Payments Pro for American Express funded payments as this feature is not currently
available and any such fees for American Express processing will be agreed by the parties when this service becomes available. 

 2.6 Special FX Pricing. If Special FX Pricing applies (see clause 2.3), the Currency Conversion Fee for all currency conversions as set out in clause 2.5 is deleted and replaced by the following:

 Skype will be liable to PayPal for the following currency conversion fee for all balances in the Covered Accounts requiring a
currency conversion 
  

			
	 Currency Conversion
  

If your transaction involves a currency conversion, it will be completed at a foreign exchange rate determined by a financial institution, which is
adjusted regularly based on market conditions. The exchange rate is adjusted regularly and may be applied immediately and without notice to you. This exchange rate includes a [***] processing fee above the wholesale exchange rate at which PayPal
obtains foreign currency, and the processing fee is retained by PayPal.
	    	 [***]
  
 The “Currency Converter” tool can be accessed through your Covered Account(s) and used to see what exchange rates apply at any given time.

2.7 Skype agrees that we can deduct our fees from the amounts we transfer but before those funds are credited to your Account. All fees
are payable by you without set off or other deductions. Skype agrees that PayPal may debit the Covered Account(s) with any fees, charges or other amounts owing to PayPal and payable by Skype in connection with Skype’s use of the Service. If
either party disputes the amount of fees that have been deducted by PayPal in respect of a transaction in accordance with this clause 2.7, then such party has a maximum of 180 days from the date of the applicable transaction to raise a dispute in
accordance with the dispute resolution procedure set out in clause 13.30 (“Fee Dispute Period”). Upon the expiry of Fee Dispute Period, no such dispute may be raised by either party. 

2.8 The fees are inclusive of all applicable taxes; however, other taxes or costs may exist that are not paid through PayPal or imposed by
us. Skype is liable for telephone charges and any charges made by your internet service provider or similar or associated charges as a result of the use by you of the Services. We may make a charge for any additional

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 8

 
services that you may request from us and that we provide outside this Agreement. We will tell you of those charges when you ask for the service. 

2.9 Skype further agrees that, in addition to any other liability, Skype is liable to PayPal for the full amount of a payment if there is
a Reversal of that payment due to it being claimed by the relevant Shared Customer as being unauthorised in connection with a reference transaction payment. For the purposes of this clause 2.9 a ‘reference transaction payment’ means a
payment which a Shared Customer provides advance authorisation to Skype to collect funds from that Shared Customer’s PayPal Account on a regular, irregular or one-time basis in accordance with the agreement the Shared Customer makes with Skype
for this purpose. 
 2.10 PayPal acknowledges and agrees that if Skype uses the Website Payments Pro Service, the 3D Secure
Service shall be included in the Website Payments Pro Service at no additional charge to Skype. 
  

	3.	SERVICES SUPPORT AND FRAUD 

3.1 PayPal agrees to use commercially reasonable efforts to conduct a site visit at Skype’s Tallinn office premises as soon as
reasonably and commercially practicable following the Effective Date (“Skype Visit”). The purpose of the Skype Visit is for a PayPal representative to discuss with Skype, the dispute and transaction reports made available to Skype
and also to identify, where appropriate, potential solutions to assist in Skype’s reporting needs. Skype further agrees to make available appropriate representatives to meet the PayPal representative to carry out the Skype Visit and to also
agree an agenda with the PayPal representative prior to the visit. 
  

	3.2	Each party shall agree in good faith as soon as reasonably practicable after the Effective Date a plan to deal with fraud and dispute management, such plan to include
but not be limited to: 

  

	 	(a)	Definitions of, and response times for disputes, claims, chargebacks, unauthorised disputes and ACH (automated clearing house) returns;

 

	 	(b)	Best practices and recommended information for Skype as a merchant to follow and provide when merchant response is required; 

 

	 	(c)	tools, access to applicable stakeholders within the Fraud and Risk departments, and information to be provided by PayPal to Skype in order to enable Skype to respond to
disputes and escalate when necessary, and timeframes within which such tools, access and information shall be provided; and 

  

	 	(d)	Account takeover use cases and process for unauthorised disputes. 

  

	3.3	Following agreement of the above plan, each party shall implement the plan in accordance with the agreed timetable. 

 

	4.	CONTRACT COMPONENTS AND INTEGRATION 

 4.1 Additional components. This Agreement includes the Terms and Conditions appended as Addendum 1, the Presentation Requirements and Statement of Work, appended as Addendum 2 which each party also
accepts as part of this Agreement. The Terms and Conditions as well as the PayPal Website Payments Pro Agreement refer to Skype as ‘Merchant’. 
 4.2 Entire agreement. This Agreement (including the Terms and Conditions and other Addendums and the Incorporated Agreements) contains the entire agreement of the parties as of the Effective Date.
It replaces and supersedes all other promises, representations, warranties, and understandings between the parties. This clause also replaces the comparable clause in User Agreement. 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 9

 EXECUTED as an Agreement and concluded in Luxembourg with effect as of the Effective Date. 

For and on behalf of  

PayPal (Europe) Sàrl & Cie, SCA 
  

			
	By:	 	/S/ ROBERT CAPLEHORN
		 	(signature)
		
	Name:	 	Robert Caplehorn
		
	Title:	 	Senior Director Legal & Compliance
		 	(please print name and title)
		
	Date:	 	9/11/2009

 For and on behalf of

 Skype Communications Sàrl 
  

			
	By:	 	/S/ NEIL WARD
		 	(signature)
		
	Name:	 	Neil Ward
		
	Title:	 	Manager
		 	(please print name and title)
		
	Date:	 	9/11/2009

 For and on behalf of 

 Skype Communications Sàrl 
  

			
	By:	 	/S/ LAURA SHESGREEN
		 	(signature)
		
	Name:	 	Laura Shesgreen
		
	Title:	 	Manager (Director)
		 	(please print name and title)
		
	Date:	 	15/11/2009

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 10

 For and on behalf of  
 Skype Communications Sàrl 
  

			
	By:	 	/S/ PETER FOULDS
		 	(signature)
		
	Name:	 	Peter Foulds
		
	Title:	 	Manager
		 	(please print name and title)
		
	Date:	 	9/11/2009

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 11

 ADDENDUM 1 
 TERMS AND CONDITIONS 
 The terms of this Addendum 1 are incorporated into the preceding Payment
Processing Agreement for Merchant Services. 
 The numbering of the clauses continues from the preceding main part of the Payment Processing
Agreement for Merchant Services. 

 

 PART A: PAYPAL TERMS 
 5. USER AGREEMENT 
  

	5.1	Applicability. Subject to clause 5.2 below and except where the clauses of this Agreement expressly replace and supersede any clauses of the User Agreement, the
terms of the User Agreement (as amended from time to time) are incorporated by reference into this Agreement. The User Agreement incorporates certain policies, notably the Privacy Policy and the Acceptable Use Policy, which are readily available
from the PayPal Website (together the “Incorporated Agreements”). If the Merchant opens multiple PayPal Accounts, the Merchant will have a slightly varying User Agreement for each Account, depending on the language and governing law
associated with the Account. 

  

	5.2	Order of precedence. As much as possible, this Agreement and the Incorporated Agreements should be interpreted as consistent with each other. Where expressly
superseded or where a conflict cannot be reconciled, this Agreement takes precedence over the Incorporated Agreements to the extent of the conflict. 

  

	5.3	Website Payments Pro. If you use PayPal’s Website Payments Pro product, your usage will be governed by the PayPal Website Payments Pro Agreement. If there
is any conflict between the PayPal Website Payments Pro Agreement and this Agreement, this Agreement takes precedence over the PayPal Website Payments Pro Agreement to the extent of the conflict. Clauses 1.2 (Required use of Express Checkout), 1.3
(Parity among payment methods), 1.5 (Cancellation), 2 (Fees), 4.1 (User Agreement applies), 7 (Termination and suspension) and 8.2 (Indemnity) of the PayPal Website Payments Pro Agreement shall not apply. Further paragraph 6 of Schedule 1 to the
PayPal Website Payments Pro Agreement shall be amended as follows: 

 (a) Paragraph 6(a) is deleted and replaced
with: “Merchant may utilise third parties to perform certain of the Merchant obligations set out in this Schedule with our express written consent (not to be unreasonably withheld nor delayed); 

(b) Paragraph 6(c)(iii) is deleted and replaced with: “and warrants that it will comply with the terms of the agreement it has
entered into with the Technical Service Provider”; 
 (c) Paragraph 6(c)(iv) is deleted and replaced with: “PayPal
(at its discretion) registering the Technical Service Provider with the Association(s)”; and 
 (d) Paragraph
6(d): the term “gateway processor” is deleted. 
  

	5.4	Online registration required. Fulfilment of certain obligations in this Agreement, including provision of the Services, depends as a practical matter on prior
online registration by the Merchant for each Covered Account (unless otherwise agreed with PayPal). The Merchant agrees to register online at the PayPal Website well in advance of the Activation Date, if the Merchant has not already done so. In
registering, the Merchant shall designate each Covered Account a Business Account. 

  

	6.	MARKETING COOPERATION 

  

	6.1	PayPal and the Merchant will discuss marketing and promotional activities associated with their business relationship, and determine, by mutual agreement, any such
activities to pursue. 

  

	6.2	Disclosing your acceptance of PayPal. Either party may freely disclose that the Merchant accepts PayPal payments. This permission for disclosure applies not only
to PayPal (Europe) Sàrl & Cie, SCA, but also to all companies under the common ownership and/or control of PayPal, Inc., a Delaware corporation (“PayPal Group Companies”). The Merchant further consents to the disclosure by
PayPal of the Merchant’s Account activity to its other PayPal Group

	 	 
Companies, including PayPal (UK) Limited, for the purpose of providing ongoing customer support as set out in the Privacy Policy. 

 

	6.3	Prior consent for publicity. Neither party shall make any press announcements or publicise this Agreement or the Services in any way without the prior written
consent of the other. 

  

	6.4	Nondisparagement. In representations to a Shared Customer or in public communications, the Merchant shall not mischaracterise or disparage PayPal as a payment
method or company; nor expressly claim that another payment method is superior to PayPal. 

 7. MAINTAINING ACCOUNT CONTROL

  

	7.1	Merchant’s password. PayPal treats any action taken whilst logged into your Account using your password as having been authorised by you. PayPal shall not
be responsible for any loss occurring as a result of a failure to keep the Merchant’s password sufficiently secure. PayPal shall promptly reset the Merchant’s password in order to stop a loss from occurring, but only after the Merchant
establishes the identity and authorisation of the person requesting the password reset. 

  

	7.2	API identifiers. PayPal will provide the Merchant with certain identifying codes specific to the Merchant for use with PayPal APIs. The Merchant agrees to follow
reasonable safeguards to protect the security of those identifying codes. Should the security of the codes become compromised or in doubt, the Merchant shall notify PayPal as soon as possible so that PayPal can cancel and re-issue the codes. PayPal
may also cancel and re-issue the codes if it has reason to believe that their security has been compromised, after notification to the Merchant to the extent that it can reasonably be given under the circumstances. 

 

	7.3	Principal Representative. Before the Activation Date, the Merchant shall appoint a Principal Representative, notify PayPal of the name and contact details of the
Principal Representative, and provide documentation of the Principal Representative’s identification. 

  

	7.4	Merchant’s employees and other agents. The Merchant shall ensure that the Principal Representative and all other Individuals using the Merchant’s
PayPal Account conform to the Merchant’s obligations pursuant to this Agreement, including all the obligations of this clause 7. The Merchant shall comply with reasonable instructions from PayPal in order to enable PayPal to comply with its
legal, contractual and regulatory obligations with respect to control over the Account. 

  

	7.5	Additional logins. The Services permit the Merchant to set up additional login and password combinations for accessing the Services. Setting up such a
combination and enabling another person to use it shall constitute authorisation of that other person by the Merchant to use the Merchant’s PayPal Account. If the Merchant uses additional login and password combinations, the Merchant shall:

 (a) Ensure that the Principal Representative of the Merchant’s Account has authority to administer and
remove additional logins as appropriate; 
  

	 	(b)	Ensure that the Principal Representative can identify and manage each Individual entrusted with a login and password combination for the Account;

  

	 	(c)	Refrain from authorising anyone to use the Account who is not either employed by the Merchant or under contract with the Merchant to perform functions similar to those
commonly performed by employees; and 

  

	 	(d)	Notify PayPal of the names of the individuals authorised to use the Account. 

 

	7.6	Passwords and Accounts of others. The Merchant shall not ask any Shared Customer or any other PayPal user to disclose their PayPal password for any reason. The
Merchant shall also not establish PayPal Accounts or set passwords or PINs for any other 

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 12

	 	 
person without that person’s prior written authorisation and without prior permission from PayPal. 

 

	8.	ENSURING COMPLIANCE 

  

	8.1	Legal compliance. The Merchant agrees that it is the merchant of record for the payments it receives from its customers. The Merchant shall ensure that all
transactions conducted by the Merchant using the Services conform to applicable law, including, for example, laws implementing EU Directive 97/7/EC (the Distance Selling Directive). PayPal acknowledges and agrees that the place of establishment of
Merchant is the grand duchy of Luxembourg and in accordance with the principle of the Country of Origin, the applicable law with which the Merchant shall principally comply under this clause and clause 8.6 below of this Agreement is the national
laws and regulations of Luxembourg. 

  

	8.2	PayPal shall ensure that the Services shall be provided in compliance with applicable law. Skype acknowledges and agrees that the place of establishment of
PayPal is the grand duchy of Luxembourg and in accordance with the principle of the Country of Origin, the applicable law with which PayPal shall principally comply (together with English law) under this clause of this Agreement is the national laws
and regulations of Luxembourg. 

  

	8.3	Restricting service. PayPal may restrict your Account if, for example, we have reason to believe you may be using it in violation of law or this Agreement.

  

	8.4	Non-diversion of payouts. Once the Merchant has received funds in a transaction with a Shared Customer, the Merchant shall pay any refund, Reversal or subsequent
repayment related to the same transaction to the same Shared Customer, and into the same PayPal Account, as in the original transaction. 

  

	8.5	In connection with the Services, PayPal will comply with the process for dealing with customer complaints and Chargebacks agreed between the parties from time to time
and will follow its standard risk management practices, including its standard risk prevention and risk monitoring procedures such as vetting procedures, imposing restrictions, reserves, and taking other preventive actions to reduce fraud or to
comply with the PayPal Acceptable Use Policy and other applicable laws, rules and regulations. 

  

	8.6	Merchant will be responsible for vetting and monitoring that the goods and services sold through the Merchant or that include the Services comply with applicable laws
and the PayPal Acceptable Use Policy. In addition, Merchant acknowledges that PayPal has no obligation to process any transactions that violate the PayPal Acceptable Use Policy. 

 

	8.7	Merchant and PayPal will comply with their respective legal and regulatory obligations regarding personal and customer account details when carrying out their
obligations under the Agreement. 

 Merchant and PayPal acknowledge that they are each a data controller when
processing personal data of Shared Customers. Neither Merchant nor PayPal act as data processors of each other. For the purposes of this clause, the terms “personal data”, “data controller” and “processing” shall have
the meanings given to the by the Directive 95/46/EC on the protection of individuals with regard to the processing of personal data as the same may be amended, modified or replaced from time to time. 

 

	8.8	Merchant will be responsible for providing customer support for any buyer inquiries related to the goods and services it sells. PayPal will be responsible for providing
customer support for any buyer inquiries related to payments only (as they may relate to Merchant goods and/or services). 

  

	8.9	Each party shall abide by any payment card industry data security standards of the relevant card schemes as updated from time to time (the “PC” DSS
Standards”). The PCI DSS Standards require each party, among other things, to observe standards of due care with regard to the protection of sensitive customer or cardholder information and to ensure that the Services are compliant with
those standards. Each party shall notify the other party immediately if it becomes aware of or suspects any security breach relating to customer data (whether or not the relevant party has complied with the PCI DSS Standards) (“Notifying
Party”). As soon as reasonably practicable, the Notifying Party shall also (and without prejudice to any other remedy the other party has in respect thereof) identify and remediate the source of such security breach and take any steps
reasonably required by the other party including, but not limited to, the procurement (at the Notifying Party’s cost) of forensic reports from third parties recommended by the other party. 

 

	8.10	Each party shall as soon as reasonably practicable notify the other party of the details of any determination which materially impacts the Services (or in the case of
Merchant, the services it provides to its customers) which it receives from any regulatory authority, card scheme, or other financial institution (to the extent that it is contractually or lawfully permitted to do so).

	9	CONFIDENTIAL INFORMATION 

 9.1
“Confidential Information”. “Confidential Information” means any information of the disclosing party that the receiving party should reasonably understand to be confidential based on the context of disclosure or the
information itself, whether or not marked as confidential. The codes provided by PayPal to identify the Merchant in instructions given to a PayPal API and information accessed or disclosed in using the API are included as Confidential Information.

 9.2 Mutual obligations. Each party shall hold the other party’s Confidential Information in confidence and neither shall disclose
such Confidential Information to third parties other than companies under common ownership or control provided that such information is disclosed solely for the purposes of this Agreement and provided that the disclosing party ensures that such
recipients are made aware, prior to the disclosure of such Confidential Information, of the confidential nature thereof, that they owe a duty of confidence to the disclosing Party and agree to hold such Confidential Information in confidence in
accordance with the terms of this Agreement; and to use its reasonable endeavours to ensure that such persons and bodies comply with such obligations.. Neither party may use the other party’s Confidential Information for any purpose other than
those of this Agreement. 
 9.3 Exceptions. The obligations of the preceding clause shall not apply to Confidential Information which
(a) is already known by the recipient, (b) becomes publicly known through no act or fault of the recipient, (c) is received by recipient from a third party without a restriction on its disclosure or use, (d) is independently
developed by the recipient without reference to any Confidential Information (e) is necessary to disclose to enable the parties’ professional advisers to carry out their duties effectively; or (f) is required by law or by the rules of
the UK Listing Authority, the London Stock Exchange (or any other recognised stock exchange) (whether directly or indirectly). 
 9.4
Survival. The obligations of this clause 9 survive termination of this agreement for six years. 
 10. INTELLECTUAL PROPERTY

  

	10.1	Marks. Each party may mention the other’s name and display the other’s Marks on the PayPal Website or the Merchant’s website and in marketing or
promotional materials, if use of the Marks is in accordance with standard trademark guidelines of the party owning the Marks, and prior approval for each such use is obtained from the party owning the Marks. The parties will agree guidelines for the
licensing and use of each other’s and payment card association brand names and trade marks. Each party further agrees to stop any use of the other’s Marks as soon as reasonably practicable after receiving a request to do so from the owner,
where the owner determines in its reasonable discretion that the use tarnishes, blurs or dilutes the Marks or misappropriates the associated goodwill. In this clause, “Marks” means the trademarks including registered and common law
trademarks, trade names, service marks, logos, domain names and designations of a party. 

  

	10.2	Obtaining copyright permission. Neither party shall allow the copyrighted material of the other to appear on its website without first obtaining permission from
the copyright holder. For purposes of this clause, both parties stipulate that they hold the copyright (or are a valid licensee of the copyright) in the entire content of their respective websites. 

 

	10.3	Content usage restrictions. The Merchant shall not copy, reproduce in altered form, create derivative works from, publicly display or frame any content from the
PayPal Website without the consent required by clause 10.2. 

 11. NO-FAULT TERMINATION 

 

	11.1	Term. This Agreement takes effect on the Effective Date and continues in effect for a period of three years unless terminated earlier in accordance with this
clause 11. Thereafter the Agreement will automatically renew for one year periods unless one party gives notice to the other of its intent to terminate the Agreement at least 6 months’ prior to the end of the current applicable term.

  

	11.2	Termination by notice. Either party may terminate this Agreement by giving the other party at least 6 months’ prior written notice of its intent to
terminate. 

  

	11.3	Rescission before Activation Date. Either party may rescind this Agreement after its Effective Date but before its Activation Date by notifying the other party.

  

	11.4	Termination for certain events. This Agreement terminates automatically, without notice, if either party: 

 

	 	a.	Becomes unable to pay its debts (within the meaning of section 123 of the Insolvency Act 1986), admits its inability to pay its debts or otherwise becomes insolvent;

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 13

	 	b.	Has any distraint, execution, attachment, sequestration or similar action taken, levied or enforced against itself or any of its substantial assets, or if any garnishee
order is issued or served on the party; 

  

	 	c.	Becomes the subject of any petition presented, order made or resolution passed for the liquidation, administration, bankruptcy or dissolution of all or a substantial
part of the party’s business, except where solvent amalgamation or reconstruction is proposed on terms previously approved by the non-terminating party; 

 

	 	d.	Loses full and unrestricted control over all or part of its assets because of the appointment of an administrative or other receiver, manager, trustee, liquidator,
administrator or similar person or officer; or 

  

	 	e.	Enters into or proposes any composition or arrangement concerning its debts with its creditors (or any class of its creditors). 

 

	11.5	Material adverse change. Either party may terminate this Agreement, without incurring liability, if the other party suffers a change in its business, operations,
or financial condition which has a material adverse effect on the ability of either party to perform its obligations under this Agreement and the terminating party gives the other party at least six months’ prior written notice.

  

	11.6	Effect of termination. If this Agreement is terminated or rescinded pursuant to this clause 11, then: 

 

	 	a.	No liability or claim for damages or restitution shall arise as a result of the termination; and 

 

	 	b.	Any amounts due and payable when the termination takes effect remain due and payable, and may be collected as provided in this Agreement or otherwise as permitted by
law. 

 12. BREACH AND LIABILITY 
  

	12.1	Application to Accounts and User Agreement. A breach of this Agreement shall also be a breach of the underlying User Agreement, and vice versa. If this Agreement
applies to more than one PayPal Account, a breach of this Agreement applies to all the Merchant’s Accounts having an Account Nationality within the European Union and the User Agreement associated with each of those Accounts, unless otherwise
notified. Sub-clauses 10.3 (Account closure and limited access), 10.5 (Transaction Hold), 10.6 (information about you), 14.5 (Limitations of liability), 14.6 (No warranty) and 14.7 (indemnification/re-imbursement) of the User Agreement do not apply.

  

	12.2	Events constituting a material breach. Without excluding any event constituting a material breach under English law, the parties agree that each of the following
events shall be a material breach of this Agreement: 

  

	 	a.	Payment default. The Merchant fails to pay one or more fees or other charges when due, and persists in its failure to pay after receipt of notice from PayPal;

  

	 	b.	PayPal fails to pay any amounts due to the Merchant when due, and persists in its failure to pay after receipt of notice from the Merchant;

  

	 	c.	Unlawful activity. Either party engages in unlawful or fraudulent activity involving the Services; or 

 

	 	d.	Failure to cure. PayPal requires remedial action pursuant to clause 12.3 below and the Merchant fails to perform the remedial action as required.

  

	12.3	Non-material breach. In the event of a breach by the Merchant, of the Restricted Activities set out in clause 9.1 of the User Agreement (but excluding 9.1
(a) unless the breach of any of the agreements referred to in 9.1(a) is a material breach in which case this clause 12.3 shall apply to such material breach) PayPal has the following rights, in addition to any others it may have:

  

	 	a.	Suspend performance. PayPal may suspend its performance of this Agreement (including, without limitation, restricting the Service) and the User Agreement on a
temporary basis and for a specified period of time. The time for lifting the suspension may be specified in terms of a condition to be achieved before the suspension will be lifted and the Services will resume. 

 

	 	b.	Investigation. Subject to the confidentiality provisions in clause 9 of this Agreement, PayPal may require the Merchant to supply copies of financial statements
or documents provided to regulatory bodies, or other documentation of its business dealings or payment transactions, 

  

	 	c.	Require remedial action. PayPal may require the Merchant to correct or improve a problem causing or contributing toward the breach, or to provide reasonable
assurances to reduce the prospect of a similar breach in the future. 

  

	12.4	Indemnity 

 

	 	a.	Each party shall indemnify (“Indemnifying Party”) the other party (“Indemnified Party”) and keep the Indemnified Party fully indemnified on a
continuing basis from any direct loss, damage and liability, and from any claim, demand or cost (including reasonable attorney’s fees) incurred in relation to any third party (including a Shared Customer) and arising out of the Indemnifying
Party’s breach of this Agreement, the User Agreement, the Website Payments Pro Agreement and the documents incorporated into any such agreements by reference (including the Acceptable Use Policy). The limit on liability set out in clause 12.5
below shall apply to this clause 12.4. 

  

	 	b.	Where a claim is made against the Indemnified Party for which it is entitled to be indemnified by the Indemnifying Party under this Agreement, the Indemnifying Party,
subject to it giving sufficient security against any costs and other liability, loss or damage which the Indemnified Party may incur in respect thereof and giving reasonable consideration to the observations and interests therein of the Indemnified
Party, shall be granted control over the defence and settlement of such claim. The Indemnified Party shall not make any prejudicial admission or statement and shall (if so requested) provide reasonable assistance at the expense of the Indemnifying
Party in defence and settlement of such claim. Each party shall, promptly upon becoming aware of any circumstances which may lead to any action or demand for which a right of indemnity exists or might exist against the other, notify the other of
such circumstances in as much detail as is then available to it. 

 CLAIMS AND LIABILITY LIMITS 

 

	12.5	Limit on total exposure. Each party’s total liability to the other (whether in contract, tort (including negligence), breach of statutory duty or otherwise)
arising out of or in connection with this Agreement shall be limited (i) in respect of any one incident, or series of connected incidents arising from a common cause in any year, to an amount equal to the aggregate of all the fees paid
and payable by the Merchant in respect of that same year; or (ii) where the date of the incident, or series of connected incidents arising from a common cause giving rise to any relevant claim arises during the year commencing on the Effective
Date, the total amount of fees which are payable in such period. However, this clause does not apply to, nor cap, any liability of a party to the other party as a result of any fees payable by Skype to PayPal, agreements with PayPal’s banking
partners set out in Part B of this Agreement or the card association rules mentioned in those agreements, or to any liability imposed by card associations or to any Chargebacks, Claims, Reversals, fines or any other amounts owing by either party to
the other party. 

  

	12.6	Claims and User Agreement. If the Merchant has a claim against PayPal, the Merchant agrees to notify PayPal in the manner required for notices in this Agreement,
instead of following the procedure provided in the User Agreement, and before asserting or enforcing any rights based on the claim in any court or other forum. PayPal shall do the same in respect of a claim against the Merchant.

  

	12.7	Cooperation in pursuing indemnified claims. If either party has a claim or potential liability that the other party may be obligated to indemnify, the party
primarily responsible for the claim or potential liability shall: 

  

	 	a	Use commercially reasonable endeavours to minimise the loss that the other party may be obligated to indemnify; and 

 

	 	b.	Notify the other party before litigating or defending the claim or potential liability, and keep the other party informed as the litigation or defence progresses.

 The party performing an indemnity shall: 

 

	 	c.	Be subrogated to the rights and defences of the indemnified party after undertaking defence against the claim; and 

 

	 	d.	Refrain from settling the indemnified claim without the indemnified party’s consent. 

 

	12.8	Certain losses excluded. Neither party shall be liable for 

 a. Any loss of profits, goodwill, business, contracts, revenue or anticipated savings; or for any loss or corruption of data; or 
 b. Any indirect or consequential loss or damage whatsoever, even if the defending party was advised in advance of the possibility of such loss or damage. 

However, notwithstanding any provision to the contrary, nothing in this Agreement shall operate to limit or exclude the liability of
either party for death or personal injury caused by that party’s negligence, or for any other liability that cannot lawfully be limited or excluded. This clause applies to indemnities as well as to other obligations.

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 14

	13	GENERAL PROVISIONS 

 DEFINITIONS

 In addition to the definitions provided in the User Agreement, the following additional definitions apply for purposes of this Agreement:

  

	13.1	3D Secure Service: means the MPI (Merchant Plug In) supplied via a third party vendor to allow merchants to use Visa’s Verified by Visa and
MasterCard’s Secure Code services. 

  

	13.2	Account: A PayPal Account, as defined in the User Agreement (including, where applicable, the Covered Account(s)). 

 

	13.3	Account Nationality: The country in which the Account holder is based according to information given in registering for the Account online.

  

	13.4	Activation Date: The date on which the Services become available for use by Shared Customers from one or more of the Merchant’s websites.

  

	13.5	Affiliate: Any subsidiary, holding company or subsidiary of a holding company of the Merchant. For the purposes of this definition, “subsidiary” and
“holding company” have the meanings given to them by section 1159 of the Companies Act 2006. 

 13.6 Agreement:
This document and its components as listed in clause 4. 
 13.7 Country of Origin: means the country where Skype is established as meant
in the European Directive 2003/31/EC of the European Parliament and of the Council of June 8, 2000, on certain legal aspects of information society services, in particular e-commerce, in the Internal Market (Directive on electronic commerce);

 13.8 Covered Account: An Account to which this Agreement applies according to clause 1.2 above. 

13.9 Effective Date: The date on which the last of the parties to execute this Agreement does so, or another later date agreed by the parties and
specified in this Agreement. 
 13.10 Incorporated Agreements: has the meaning ascribed to it in clause 5.1. 

13.11 PayPal Website: The website provided by PayPal for the Account Nationality of the relevant Account. In the case of a UK Account, the PayPal
Website is currently at http://www.paypal.co.uk. References to PayPal Websites for other countries can be found via a link from any other PayPal Website. 
 13.12 Principal Representative: The individual in the Merchant’s organisation who coordinates or oversees the Merchant’s use of the Services and relationship with PayPal. 

13.13 Quarter: means the period of time from the Effective Date until 31 December 2009 and following this date, each consecutive period of
three months thereafter, or any shorter period commencing on a day immediately following the end of any such three month period and ending on termination of this agreement (and the term “Quarterly” shall be construed accordingly).

 13.14 Services: All payment services and related products, services and functionality available through the PayPal Website including
PayPal Website Payments Pro. 
 13.15 Shared Customer: A user of the worldwide web who both has a PayPal Account and obtains goods or
services from the Merchant. 
 13.16 User Agreement: The contract entered into online as part of the online registration process required
to open a PayPal Account, as such agreement is amended in accordance with clause 12.1 of Addendum 1 of the Payment Processing Agreement. See also clause 5. The current User Agreement is to be found via a link from the footer of nearly every page on
the PayPal Website. It includes certain policies, notably the Acceptable Use Policy and Privacy Policy, which are also listed on the PayPal Website. 
 13.17 PayPal Website Payments Pro Agreement. The terms governing the use of the service known as PayPal Website Payments Pro as displayed in the online registration process allowing customers to
sign up electronically to the PayPal Website Payments Pro products and services, as such agreement is amended in accordance with clause 5.3 of Addendum 1 of the Payment Processing Agreement. 
 13.18 Your Website: A website of the Merchant which is associated with payments made via the Covered Accounts (as listed in clause 1.2.) 
 MISCELLANEOUS 
 13.19 Choice of law and jurisdiction. This Agreement shall be governed by
the laws of England and is subject to the exclusive jurisdiction of English courts. 
 13.20 Assignment by consent. Neither party may
assign this Agreement or any rights under it, in whole or in part, without the other party’s prior written consent (which consent shall not be unreasonably withheld or delayed), except that PayPal may on notice to the Merchant assign the
benefit of this Agreement to a Group Company of PayPal. Any attempt to assign this Agreement other than as permitted above will be null and void.

 
Either of PayPal and Merchant may also give notice to the other that it wishes to novate this Agreement to another Group Company of such party and the other shall consent to any such proposed
novation such consent not to be unreasonably withheld or delayed, provided that, in either case, the Group Company to which this Agreement shall be novated is of no lesser financial or regulatory status than the party which will be replaced and that
the party which is to give consent, acting reasonably, is satisfied that the terms of the novation are not prejudicial to its interests. 

13.21 Opt-out from Payment Services Regulations. The parties agree that all provisions of Part 5 of the Payment Services Regulations 2009 do not apply
to this Agreement. 
 13.22 Severability. Should any provision of this Agreement be invalid or unenforceable, the remainder shall remain
effective and enforceable to the fullest extent permitted by law. 
 13.23 Fees payable from Account. The Merchant agrees that PayPal
may debit the Account to collect any fees, charges or other amounts owing to PayPal and payable by Merchant in connection with Merchant’s use of the Services in accordance with clause 2 of this Agreement. All fees are payable without set off or
other deductions. 
 13.24 No agency or partnership. This Agreement does not create or imply any partnership, agency or joint venture.

 13.25 Writing required. Without prejudice to clause 5.1, to be valid, any amendment or waiver of this Agreement must be in writing, but
an email may suffice for a waiver sent by either party. Failure by either party to enforce any provision of this Agreement will not be deemed a waiver of future enforcement of that or any other provision. 

13.26 No third party beneficiaries. A person who is not a party to this Agreement has no rights under the Contracts (Rights of Third Parties) Act
1999. 
 13.27 No warranty; interruptions of service. PayPal shall make reasonable efforts to ensure that requests for electronic debits
and credits involving bank Accounts, credit and/or debit cards are processed in a timely manner; however PayPal explicitly disclaims any warranties or representations regarding the amount of time necessary to complete the processing of payments.
PayPal does not warrant, agree or represent that the Merchant will have continuous, uninterrupted or secure access to the Services or, that the information about other users and provided to the Merchant is accurate and/or up to date. PayPal shall
not be liable for any delay or failure in the provision of the Service where such failure or delay is outside PayPal’s reasonable control (including, without limitation, failures or delays associated with electronic communication network
faults). Merchant acknowledges that its access to the Service may be occasionally restricted to allow for repairs, maintenance or the introduction of new facilities or services. 
 13.28 Survival. The obligations of clause 9 (Confidential information) and clause 12 (Breach and Liability) and this clause survive termination of this Agreement for six years. 

13.29 Counterparts. This Agreement may be executed in any number of counterparts and by the parties on separate counterparts but shall not be
effective until each person has executed at least one counterpart and each counterpart, when executed, shall be an original of this Agreement and all counterparts shall together constitute one and the same instrument. Each counterpart may be signed
by such a person or persons and transmitted by facsimile transmission (or by electronic transmission of a scan of such executed counterpart), which shall be valid and effectual as it executed as an original. 

13.30 Disputes. In the event that either party wishes to raise a dispute with respect to the terms of this Agreement, that party may refer the
matter to the relationship managers of each party who shall discuss the matter and shall in good faith consider the concerns raised by the party providing notice of the dispute and aim to resolve the matter. If the party raising the dispute
continues to have concerns after such discussions then it may refer the matter to the other party’s Managing Directors. In the event that no resolution is reached following such referral then each party may rely on any remedies it considers to
be appropriate. 
 PART B: BANK TERMS FOR CARD PAYMENTS 
 The terms set out in the remainder of this Agreement pertain to card transactions used to fund a PayPal Account, which in turn can be used to pay the Merchant. Card transactions by the Merchant that do
not fund a PayPal Account are not affected by the terms below. 
 One of the following ‘commercial entity agreements’ will apply,
depending on which of PayPal’s banking partners carries out a particular card transaction. 
 14 FOR CARD TRANSACTIONS BY NATWEST

 This Commercial Entity User Agreement for PayPal Payment Card Funded Processing Services (“Commercial Entity Agreement” or
“CEA”) is provided to all PayPal Users that are Commercial Entities (as defined by Visa Europe, Visa Inc, Visa International, MasterCard Worldwide, UK Maestro, Solo and/or International Maestro”(together the”
“Associations”)) and open a 

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 15

 
Premier or Business Account (such use of such accounts collectively termed the “Premier/Business Service”). Each such PayPal User is hereby referred to as “Merchant” and may
be referred to herein as “you” and/or “your”. This CEA constitutes your separate legally binding contract for credit and debit card processing for PayPal transactions between you and National Westminster Bank PLC and its
Affiliate(s) (collectively, the “Bank”). For the purpose of this CEA, “Affiliate(s)” shall mean the financial institution(s) domiciled in the same Association region as you are domiciled in for Association purposes and which Bank
has formed a relationship with in accordance with Association requirements to allow the processing of card transactions the identity of which you can obtain on contacting PayPal. In accordance with the provisions of this CEA, the Bank may terminate
its provision of credit and debit card processing services and enforce any of the provisions of Merchant’s PayPal Payment Processing Agreement (also known as the PayPal User Agreement) (“PPA”), agreed by and between Merchant and
PayPal. In this CEA “we”, “us” and “our” refer to Bank. 
 Merchant agrees to the terms and conditions of this
CEA. Merchant further agrees that this CEA forms a legally binding contract between Merchant and Bank. This Commercial Entity Agreement may be amended at any time by us via PayPal posting a revised version of the CEA on the PayPal website(s). The
revised version will be effective at the time PayPal posts it. If we propose to change this CEA in a substantial manner, we will provide you with at least 30 days’ prior notice of such a change by posting notice on the “Policy
Updates” page of PayPal’s web site(s). After this 30 days’ notice, you will be considered as having expressly consented to all amendments to the CEA. If you disagree with those proposed amendments, you may close your account before
the expiry of such 30 day period in accordance with the terms of the PPA and this CEA will terminate on the closure of your account. For the purpose of the CEA a change to this CEA will be considered to be made in a “substantial manner” if
the change involves a reduction to your rights or increases your responsibilities. . 
 Purpose of this CEA. When your customers pay you
through PayPal, they have the option of paying you through a funding source offered on the PayPal website including a card funded payment. In most instances, you will not know the funding source that your customer selected. Since you may be the
recipient of a card funded payment, the Associations require that you enter into a direct contractual relationship with a bank who is a member of the Associations. By entering into this CEA, you are fulfilling such Association requirement and you
are agreeing to comply with Association rules as they pertain to payments you receive through the PayPal service. 
 Association Rules.

  

	14.5	Deposit Transactions. Merchant agrees that it shall only accept payments through PayPal Processing Services for bona fide transactions between the Merchant and
its customer for the sale of goods or services. Merchant shall not submit a transaction for the refinance or transfer of an existing obligation that was uncollectible. Merchant acknowledges that for Visa and MasterCard payments, PayPal shall obtain
an authorization for transaction amounts prior to completing the transaction. 

  

	14.6	Split Transactions. Merchant agrees to submit a single transaction for the full amount of each sale. Except, however in an instance where the Merchant and
cardholder agree on a partial shipment of product, or where the transaction qualifies for delayed delivery or special order deposits (such as partial shipments based on inventory on hand), a sale may be split into multiple transactions.

  

	14.7	Minimum or Maximum/Surcharges. Merchant agrees that it shall not set minimum or maximum transaction amounts or impose surcharges as a condition of honoring Visa
and MasterCard cards. 

  

	14.8	Visa and MasterCard Marks. Merchant is authorized to use the Visa and MasterCard logos or marks only on Merchant’s promotional materials and website to
indicate that Visa and MasterCard cards are accepted as funding sources for PayPal transactions. 

  

	14.9	Credit Vouchers. Credit vouchers may only be submitted for the purpose of refunding a prior transaction from the same card. 

 

	14.10	Cash Disbursements. Merchant agrees that if it sells travelers cheques or foreign currency that disbursements shall be limited to the value of cheques, Visa
TravelMoney, or currency sold in a single transaction, plus any applicable commissions. 

  

	14.11	Discrimination. Merchant agrees that it shall not engage in any acceptance practice that discriminates against or discourages the use of Visa or MasterCard in
favor of any other card brand. 

  

	14.12	Access to Cardholder Data. Merchant acknowledges that it does not have access to Cardholder Data (defined as the cardholder’s account number, expiration
date, and CVV2) and will not request access to Cardholder Data from either PayPal or the cardholder. In the event that Merchant receives Cardholder Data in connection with the PayPal Processing Services provided under this Agreement, Merchant agrees
that it will not use the Cardholder Data for any purpose that it knows or should know to be fraudulent or in violation of any Association Rules. Merchant also agrees that it will not sell, purchase, provide or exchange in any manner or disclose
Cardholder Data to anyone other than its acquirer, Visa or MasterCard (as applicable) or in response to a government request. In the event that Merchant receives Cardholder Data, it will promptly notify Bank and PayPal of such.

	14.13	Merchant Identification. Merchant agrees to prominently and unequivocally inform the cardholder of the identity of the Merchant at all points of interaction.

  

	14.14	Chargebacks. Merchant shall use all reasonable methods to resolve disputes with the cardholder. Should a chargeback dispute occur, Merchant shall promptly comply
with all requests for information from PayPal. Merchant shall not attempt to recharge a cardholder for an item that has been charged back to the cardholder, unless the cardholder has authorized such actions. 

 

	14.15	Merchant’s Refund Policy must be on Merchant’s Website. If Merchant limits refund/exchange terms or other specific conditions for Card sales,
Merchant’s policy must be clearly provided to the cardholder prior to the sale and Merchant must conform with all applicable laws and the Association Rules. 

 

	14.16	Term and Termination. This CEA is effective upon the date Merchant agrees to the CEA and continues so long as the PPA remains in force between Merchant and
PayPal but shall automatically terminate without notice on termination of such PPA for any reason, provided that those terms which by their nature are intended to survive termination (including without limitation, indemnification obligations and
limitations of liability) shall survive. This CEA may be terminated by Bank at any time based on a breach of any of Merchant’s obligations under this CEA or the PPA, or by Merchant based on a breach of any of Bank’s obligations under this
CEA, or by the Bank based on the termination of the acquiring services agreement entered into between PayPal (or its applicable group company) and Bank as notified to the Merchant. 

 

	14.17	Indemnification. Merchant agrees to indemnify and hold Bank harmless from and against all losses, liabilities, damages and expense: (a) resulting from any
breach of any warranty, covenant or agreement or any misrepresentation by Merchant under this CEA; (b) arising out of Merchant’s or its employees’ negligence or willful misconduct, (c) arising in connection with Card transactions
or otherwise arising from Merchant’s provision of goods and services to Cardholders or customers; (d) arising out of Merchant’s use of the PayPal Service; or (e) resulting from any Fines or arising out of any third party
indemnifications Bank is obligated to make as a result of Merchant’s actions (including indemnification of any Association or Issuing Bank). 

  

	14.18	Assignment/Amendments. This CEA may not be assigned by Merchant without the prior written consent of Bank. Bank may assign its rights under this CEA without
Merchant’s consent. 

  

	14.19	Warranty Disclaimer. This CEA is a service agreement. Bank disclaims all representations or warranties, express or implied, made to Merchant or any other person,
including without limitation, any warranties regarding quality, suitability, merchantability, fitness for a particular purpose or otherwise of any services or any goods provided incidental to the services provided under this CEA to the extent
permitted by law. 

  

	14.20	Limitation of Liability. Notwithstanding anything in this CEA to the contrary, in no event shall Bank, or its Affiliate(s) or any of its directors, officers,
employees, agents or subcontractors, be liable under any theory of tort, contract, strict liability or other legal theory for lost profits, lost revenues, lost business opportunities, exemplary, punitive, special, incidental, indirect or
consequential damages, each of which is hereby excluded by agreement of the parties, regardless of whether such damages were foreseeable or whether Bank has been advised of the possibility of such damages. Notwithstanding anything in this CEA to the
contrary, in no event shall Bank be liable or responsible for any delays or errors in its performance of the services caused by our service providers or other parties or events outside of Bank’s reasonable control, including PayPal.
Notwithstanding anything in this CEA to the’contrary, Bank’s cumulative liability for all losses, claims, suits, controversies, breaches or damages for any cause whatsoever arising out of or related to this CEA and regardless of the form
of action or legal theory and whether or not arising in contract or tort (including negligence shall not exceed the total volume of all transactions, expressed as a U.S. dollar amount processed by the Merchant under this CEA via PayPal. Nothing in
this CEA shall exclude or limit any liability of any party for death or personal injury caused by negligence or fraud, deceit or fraudulent misrepresentation, howsoever caused. 

 

	14.21	Waiver. The failure of a party to assert any of its rights under this CEA, including, but not limited to, the right to terminate this CEA in the event of breach
or default by the other party, will not be deemed to constitute a waiver by that party of its right to enforce each and every provision of this CEA in accordance with its terms. 

 

	14.22	 Relationship between the Parties. No agency, partnership, joint venture or employment relationship is created between Merchant and Bank by way
of this CEA. In the performance of their respective obligations hereunder, the parties are, and will be, independent contractors. Nothing in this CEA will be construed to constitute either party as the agent for the other for any purpose whatsoever.
Neither party will bind, or attempt to bind, the other party to any contract or the performance of any obligation, and neither party will represent to any

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 16

	 	 
third party that it has any right to enter into any binding obligation on the other party’s behalf. 

 

	14.23	No Illegal Use of Services. Merchant will not access and/or utilize the Services for illegal purposes and will not interfere or disrupt networks connected with
the Services. 

  

	14.24	Severability. Whenever possible, each provision of this CEA will be interpreted in such a manner as to be effective and valid under applicable law, but if any
provision hereof will be prohibited by or determined to be invalid by a court of competent jurisdiction, such provision will be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this CEA. 

  

	14.25	Governing Law. This CEA (and the relationships referred to or contemplated by it) shall be governed and construed in accordance with the laws as set out as the
governing laws of the PPA which the Merchant has agreed to. 

  

	15	FOR CARD TRANSACTIONS BY HSBC 

 This
Commercial Entity User Agreement for Credit Card Processing Services (“Commercial Entity Agreement” or “CEA”) is provided to all PayPal Users that meet the definition of “Commercial Entities” or the equivalent under
Association Rules (defined below) and that open and use a Premier or Business Account (such use of such Accounts collectively termed the “Premier/Business Service”). (Each such entity or person receiving this document is hereby referred to
as “Merchant”). This CEA constitutes Merchant’s separate legally binding contract for credit card processing between (1) Merchant, as a Commercial Entity; and (2) Member (which is HSBC Bank plc or any member of the group of
companies of which HSBC Holdings plc is the holding company or any relevant third party with which any such HSBC company shares a Bank Identification Number (BIN) in the Merchant’s country of residence) for MasterCard and Visa transactions
acquired for Merchants. Member may terminate its provision of credit card processing services and enforce or rely on any term or provision of the Merchant’s PayPal User Agreement (“PUA”), all of which Member considers relevant are
incorporated in this CEA by reference. In this CEA “we”, “us” and “our” refer to Member. Any reference to the PUA shall mean the PayPal User Agreement made between Merchant and PayPal. 

By accepting the Commercial Entity Agreement, Merchant agrees to the terms and conditions of this CEA and any documents incorporated by reference.
Merchant further agrees that this CEA forms a legally binding contract between Merchant and Member. Any rights not expressly granted herein are reserved by Member. Descriptions of material amendments to this CEA will be provided as applicable. Any
capitalised terms used in this CEA and not otherwise defined shall have the meanings set forth in the PUA. 
 Association Rules

  

	15.5	Deposit Transactions. Merchant agrees that it shall only submit card transactions that directly results from bona fide cardholder transactions with that
Merchant. Merchant agrees that it will not submit a transaction until Merchant: (i) obtains an authorisation, (ii) completes the transaction, and either: (iii) ships or provides goods, (iv) performs the purchased service, or
(v) obtains the cardholder’s consent for a recurring transaction. 

  

	15.6	Anti Money Laundering. Merchant agrees that it shall not submit a transaction that does not result from a purchase of goods or services between the cardholder
and Merchant. 

  

	15.7	Split Transactions. Split sales transactions are not allowed. Specifically, Merchant agrees that it will not use two or more sales transaction receipts for a
single transaction to avoid or circumvent authorisation limits, or monitoring programs. 

  

	15.8	Minimum or Maximum. Merchant agrees that it shall not set minimum or maximum transaction amounts as a condition of honouring Visa and MasterCard cards.

  

	15.9	Surcharges. Merchant agrees that it will not impose surcharges on debit card transactions. 

 

	15.10	Visa and MasterCard Marks. Merchant is authorised to use the Visa and MasterCard logos or marks only on Merchant’s promotional materials and website to
indicate that Visa and MasterCard cards are accepted as payment for the business goods and services. Merchant agrees that it shall not use the logos and marks either directly or indirectly, to imply that Visa or MasterCard endorses Merchant’s
goods or services; nor may Merchant refer to Visa or MasterCard when stating eligibility requirements for purchasing its products, services, or memberships. 

 

	15.11	Credit Vouchers. Credit vouchers may not be submitted for non-credit transactions. Merchant agrees that it shall not: (i) accept a payment from a card
holder for the purpose of depositing funds to the cardholder’s Account, or (ii) process a credit transaction without having completed a previous debit transaction with the same cardholder. 

 

	15.12	Cash Disbursements. Merchant agrees that if it sells travellers cheques or foreign currency that Disbursements shall be limited to

 the value of cheques, Visa TravelMoney, or currency sold in a single transaction, plus any applicable
commissions. Merchant agrees that under no circumstances shall a Visa or MasterCard transaction represent collection of a dishonoured cheque. 
  

	15.13	Authorisation Requirements. Merchant agrees to obtain an authorisation for all transaction amounts. 

 

	15.14	Discrimination. Merchant agrees that it shall not engage in any acceptance practice that discriminates against or discourages the use of Visa or MasterCard in
favour of any other acceptance brand. 

  

	15.15	Present Transactions within 30 Business Days. Merchant agrees that a debit transaction shall not be presented until after the goods are shipped, or services
provided, unless, at the time of the transaction, the cardholder agrees to a properly disclosed delayed delivery of the goods or services. Merchant agrees that when it receives authorisation for delayed presentment, the words “Delayed
Presentment” or something substantially similar must be disclosed to the cardholder. 

  

	15.16	Fraudulent or Unauthorised Use of Account Information Prohibited. Merchant agrees that it shall not request or use Visa or MasterCard Account number information
for any purpose that it knows or should have known to be fraudulent or in violation of Visa and MasterCard standards, Association Rules, the PUA, or this CEA, or for any purpose that the cardholder did not authorise. 

 

	15.17	Merchant Identification. Merchant agrees to prominently and unequivocally inform the cardholder of the identity of the Merchant at all points of interaction so
that the cardholder readily can identify the transaction. 

 Card Associations 

Visa U.S.A., Inc. and Visa International (“Visa”) and MasterCard International Incorporated (“MasterCard”) (the
“Associations”) have developed rules and regulations (the “Association Rules”) that govern their member banks and merchants in the procedures, responsibilities and allocation of risk for payments made through the Associations. By
accepting this CEA, Merchant is agreeing to comply with all such Association Rules. 
  

	15.18	Merchant’s Refund Policy must be on Merchant’s Website. If Merchant limits refund/exchange terms or other specific conditions for Card sales,
Merchant’s POLICY MUST BE CLEARLY PROVIDED TO THE CARDHOLDER PRIOR TO THE SALE AND AS PART OF YOUR SALE CONFIRMATION PROCESS. PROPER DISCLOSURE WOULD INCLUDE WORDING THAT IS PROMINANTLY DISPLAYED AND STATES “NO REFUND, EXCHANGE ONLY”,
OR SOMETHING SUBSTANTIALLY SIMILAR AND INCLUDES ANY SPECIAL TERMS. NOTE: QUALIFYING YOUR REFUND OR EXCHANGE TERMS DOES NOT COMPLETELY ELIMINATE YOUR liability for a refund because consumer protection laws and Association Rules frequently allow the
cardholder to still dispute these items. In particular, by implementing Directive 97/7/EC many European Union member states will have distance selling regulations which allow a consumer to cancel its contract with the Merchant within a defined
period and receive a refund. 

  

	15.19	Term and Termination. This CEA is effective upon the date Merchant accepts the terms and conditions set out herein and continues so long as Merchant uses the
PayPal Service (“Services”) or until terminated by Merchant or Member, provided that those terms which by their nature are intended to survive termination (including without limitation, indemnification and chargeback obligations and
limitations of liability) shall so survive termination. This CEA may be terminated by Member at any time based on a breach of any of Merchant’s obligations hereunder or for any other reason that Member deems exceptional.

 This CEA will terminate automatically upon any termination of Merchant’s PUA. 

 

	15.20	Indemnification. Merchant agrees to indemnify, defend, and hold Member harmless from and against all losses, liabilities, damages and expenses (including legal
fees and collection costs) which the Member or their affiliates or agents may suffer or incur arising from any breach of any warranty, covenant or misrepresentation by Merchant under this CEA, or arising as a result of any tortious conduct by
Merchant or Merchant’s employees or agents, in connection with Card transactions or otherwise arising from Merchant’s provision of goods and services to cardholders or from any contravention of any legal requirements.

  

	15.21	Arbitration. Any dispute with respect to this CEA between Merchant and HSBC Bank plc, including a dispute as to the validity or existence of this CEA and/or this
clause, shall be resolved by arbitration in London, England, conducted in English by a single arbitrator in accordance with the ICC Rules. The parties agree to waive any right of appeal against the arbitration award. In the event of a failure by the
parties to agree on the sole arbitrator within 30 days of one party calling upon the other to do so, one shall be appointed by the ICC. 

  

	15.22	 Assignment/Amendments. This CEA may not be assigned by Merchant without the prior written consent of Member. Member may

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 17

	 	 
assign their rights under this CEA without Merchant’s consent. This CEA may be amended by Member as provided under the PUA. 

 

	15.23	Warranty disclaimer. This CEA is a service agreement. We disclaim all representations or warranties, express or implied, made to merchant or any other person,
including without limitation, any warranties regarding quality, suitability, merchantability, fitness for a particular purpose or otherwise of any services or any goods provided incidental to the services provided under this CEA to the extent
permitted by law. 

  

	15.24	Logo usage. In using each other’s logos and other trademarks, each agrees to follow the guidelines prescribed by the other, as notified by the parties to
each other from time to time. 

  

	15.25	Limitation of Liability. Notwithstanding anything in this CEA to the contrary, in no event shall the parties hereunder, or their affiliates or any of their
respective directors, officers, employees, agents or subcontractors, be liable under any theory of tort, contract, strict liability or other legal theory for lost profits, lost revenues, lost business opportunities, exemplary, punitive, special,
incidental, indirect or consequential damages, each of which is hereby excluded by agreement of the parties, regardless of whether such damages were foreseeable or whether any party or any entity has been advised of the possibility of such damages.
Notwithstanding anything in this CEA to the contrary, in no event shall we be liable or responsible for any delays or errors in our performance of the services caused by our service providers or other parties or events outside of our reasonable
control, including PayPal. Notwithstanding anything in this CEA to the contrary, the parties’ cumulative liability for all losses, claims, suits, controversies, breaches or damages for any cause whatsoever (including, but not limited to, those
arising out of or related to this CEA) and regardless of the form of action or legal theory and whether or not arising in contract or tort (excluding negligence and wilful misconduct) shall not exceed the total volume of all transactions, expressed
as a U.S. dollar amount, processed under this CEA. Nothing in this CEA shall exclude or limit any liability of any party for death or personal injury caused by negligence or fraud, deceit or fraudulent misrepresentation, howsoever caused.

  

	15.26	Enforceability. No term of this CEA shall be enforceable by a third party and in particular a person who is not a party to this CEA has no rights under the
Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy any of the benefits of this CEA (being a person other than the parties and their permitted successors and assignees). 

 

	15.27	Governing Law. Governing law with respect to this CEA shall be the laws of England and Wales. Each party hereby submits to the non-exclusive jurisdiction of the
courts of England and Wales. 

  

	15.28	Waiver. The failure of a party to assert any of its rights under this CEA, including, but not limited to, the right to terminate this CEA in the event of breach
or default by the other party, will not be deemed to constitute a waiver by that party of its right to enforce each and every provision of this CEA in accordance with its terms. 

 

	15.29	Relationship between the Parties. No Partnership or Agency; Independent Contractors No agency, partnership, joint venture or employment relationship is created
between Merchant and Member by way of this CEA. In the performance of their respective obligations hereunder, the parties are, and will be, independent contractors. Nothing in this CEA will be construed to constitute either party as the agent for
the other for any purpose whatsoever. Neither party will bind, or attempt to bind, the other party to any contract or the performance of any obligation, and neither party will represent to any third party that it has any right to enter into any
binding obligation on the other party’s behalf. 

  

	15.30	No Illegal Use of Services. Merchant will not access and/or utilise the Services for illegal purposes and will not interfere or disrupt networks connected with
the Services. 

  

	15.31	Severability. Whenever possible, each provision of this CEA will be interpreted in such a manner as to be effective and valid under applicable law, but if any
provision hereof will be prohibited by or determined to be invalid by a court of competent jurisdiction, such provision will be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this CEA. 

 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 18

 ADDENDUM 2 
 PAYPAL PRESENTATION REQUIREMENTS AND INTEGRATION STATEMENT OF WORK 
 [16
PAGES ARE OMITTED AS CONFIDENTIAL AND FILED SEPARATELY 
 WITH THE SECURITIES AND EXCHANGE COMMISSION] 

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 19

 AMENDMENT ONE TO PAYPAL PAYMENT PROCESSING AGREEMENT 

This Amendment One to PayPal Payment Processing Agreement (“Amendment One”) is made and entered into as of __03-06 2010 (the
“Effective Date”) between PayPal (Europe) Sarl & Cie, SCA (“PayPal”), a limited liability partnership registered as number RCS Luxembourg B 118 349 and having its registered office at 22-24 Boulevard Royal,
L-2449, Luxembourg, and Skype Communications Sarl (“Skype”), a Luxembourg limited company with its principal place of business at 22/24 Boulevard Royal, L 2449 Luxembourg. 
 PayPal and Skype are hereafter collectively referred to as the “Parties”. 
 WHEREAS, on 15 November 2009, the Parties entered into the PayPal Payment Processing Agreement (“Original Agreement”) whereby PayPal gave Skype a right to use the PayPal
services; and 
 WHEREAS, the Parties desire to amend the Original Agreement by including an Affiliates accession
mechanism under certain conditions; 
 NOW THEREFORE, in consideration of the mutual promises and covenants set forth in
this Amendment One, and intending to be legally bound, the parties agree as follows: 
  

	1.	The following clause is to be added as new clauses 4.3 of the Original Agreement: 

 “4.3 PayPal’s offer to extend. PayPal hereby extends to Affiliates of Skype an offer to contract with PayPal (or one of its Affiliates) on the same terms as agreed with Skype in
this Agreement, except that the Account Nationality of the Covered Account shall match the country in which the Skype Affiliate is registered. An Affiliate of Skype may accept this offer by agreeing an accession agreement with PayPal (or as
applicable, an Affiliate of PayPal). This provision is subject to PayPal (or its Affiliates) compliance with any applicable laws or regulations.” 
  

	2.	The following shall be added to the end of clause 8.9 of the Original Agreement: 

 “The Merchant acknowledges and agrees that it shall be responsible for compliance with the PCI DSS Standards on behalf of any Affiliate that enters into an accession agreement with PayPal (or an
Affiliate of PayPal) in accordance with clause 4.3 of this Agreement (unless otherwise agreed in the applicable accession agreement). Merchant shall abide by the PCI DSS Standards in accordance with this clause 8.9 in respect of any and all payments
made via the Covered Accounts specified in the applicable accession agreement. 
  

	3.	All terms and conditions in the Original Agreement not otherwise modified by this Amendment One shall remain in full force and effect. 

 

	4.	This Amendment One agreement shall be governed by English law and is subject to the exclusive jurisdiction of the English courts. 

IN WITNESS WHEREOF, the parties have caused this Amendment One to be executed by their duly authorised representatives as of the Effective Date.

  

									
	PayPal (Europe) Sarl & Cie, SCA	 		 	Skype Communications Sarl
					
	By:	 	/s/ ROBERT CAPLEHORN	 		 	By:	  	/s/ PETER FOULDS
					
	            (Signature)	 		 		 	            (Signature)	  	
					
	Name:	 	Robert Caplehorn	 		 	Name:	  	Peter Foulds
					
	            (Please print)	 		 		 	            (Please print)	  	
					
	Title:	 	Senior Director Legal & Compliance	 		 	Title:	  	Manager
					
	Date:	 	1/6/2010	 		 	Date:	  	3/6/2010

  

			
	PAYPAL PAYMENT PROCESSING AGREEMENT	  	PAGE 20

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