Parachute by Providers Program Participation Agreement

(Last Updated December 14, 2022)

Please read this Parachute by Providers Program Agreement (“Parachute by Providers Agreement”), a legal agreement that governs Propel Inc.’s (“Propel,” “we,” “us,” or “our”) “Parachute by Providers Program”. This Agreement outlines your and our obligations and sets forth the terms of your use of the Parachute by Providers Program. All banking services provided under this Agreement are provided by Sutton Bank, Member FDIC.

Additionally, this Agreement supplements all previous agreements between you and Propel. This Program is part of Propel’s “Service” (as defined in the Propel Terms of Use) so your use of this Program is governed by all terms and agreements to which you have previously agreed, including but not limited to, the Propel Terms of Use and the Privacy Policy. Without limiting the previous sentence, you specifically acknowledge that your use of this Program is subject to the disclaimers, limitation on damages, indemnity, dispute, and arbitration provisions in the Propel Terms of Use.

Propel will permit you to participate in this Program only on the condition that you accept and agree to all of the terms and conditions contained in this Agreement. If you do not agree to all of the terms and conditions contained in this Agreement, you are ineligible to participate in this Program.

Propel reserves the right to modify this Agreement at any time. Propel further reserves the right to suspend or terminate your participation in this Program at any time for any reason in Propel’s sole discretion, including without limitation, if you (i) violate this Agreement; (ii) violate the Propel Terms of Use or other applicable agreement(s); (iii) act in a manner inconsistent with applicable laws; (iv) engage in any misconduct or wrongdoing in connection with your Account, this Program, or other services offered by Propel; (v) misuse, manufacture or otherwise fraudulently use, receive, or attempt to use or receive, a qualifying Federal Benefit or (vi) engage in any fraudulent or inappropriate use of your Account that is outside the typical usage of a bank account.

1. Parachute by Providers Program Description

Propel’s Parachute by Providers Program allows you to earn cash back (“Cash Back”) up to $500 based on eligible spend on your Providers Card, where the Cash Back will be deposited into your Providers Card account (“Account”, as defined in the Propel Terms of Use) following an eligible transaction. You can only redeem the Cash Back for one eligible transaction for the program’s duration.

This program ends on June 30, 2023 (the “Program End Date”).

2. Eligibility

The first 1,000 individuals with an open, non-suspended Account created on or between December 10, 2022 and December 14, 2022 that agree to this Parachute by Providers Agreement are eligible to participate in the Parachute by Providers Program.

To maintain eligibility, you must keep a positive balance in your Account. If your Account enters into a negative status (including, but not limited to being closed or suspended for any reason) after you have qualified for a Cash Back, but before the Cash Back is deposited to your Account, you are no longer eligible and forfeit the Cash Back.

You are only eligible to redeem Cash Back for one eligible transaction for the duration of the Parachute by Providers Program. Any Cash Back that has not been redeemed by the Program End Date is forfeited.

If you have not claimed your Cash Back for an eligible transaction and you have other eligible transactions, you will be able to claim Cash Back for an eligible transaction with the greatest initial authorization dollar amount. As soon as you claim your Cash Back amount and it is deposited into your Account, you are no longer eligible for additional Cash Back, even if you have another qualifying transaction.

3. Cash Back Value

Once you have unlocked the Parachute by Providers Program by accepting these terms and conditions, you are eligible to earn Cash Back, deposited into your Providers Card Account, equal to 100% of the initial authorization amount for the eligible transaction, up to $500. If the initial authorization amount for the eligible transaction exceeds $500, you will receive $500 in Cash Back.

5. Eligible Transactions

The Parachute by Providers Program covers certain transactions made for hospital and medical bills, car repairs, and loss of a loved one (“Covered Emergency Categories”). Eligible transactions are identified and automatically flagged for Cash Back based on their Merchant Category Codes (“MCCs”). MCCs are standardized four digit codes that describe a merchant’s business activities and classification and are not determined by Propel.

The qualifying MCCs are as follows:

All debit transactions in the qualifying MCCs made with your Providers Card after your acceptance of the Parachute by Providers Agreement and until the Program End Date are eligible to be claimed as Cash Back. Transactions with other MCCs are not eligible for Cash Back under the Parachute by Providers Program, unless otherwise agreed to by Propel in its sole discretion.

If you do not see a notification or offer prompting you to accept your Parachute by Providers in the Providers app and believe you made an eligible transaction, you may contact the Providers Card Customer Service team at +1 (877) 607-4909 to submit a claim. You may be asked to provide additional evidence to support your claim.

Propel reserves the right to reject transactions that it deems to not fit into the Covered Emergency Categories, in which case you will be ineligible for the Cash Back. Propel reserves the right to reject claim evidence that Propel for any reason Propel deems necessary.

6. Cash Back Availability

Propel will automatically calculate the Cash Back for the eligible transaction in the qualifying MCC, and subsequently after the authorization for the eligible transaction is made. Click the “REVIEW” button to redeem any Cash Back for an eligible transaction. Once you have reviewed the transaction and clicked the “REDEEM” button, Propel will deposit that amount into your Account.

Cash Back deposits will appear as “Parachute by Providers” in your Providers Card Account, and will be available immediately after posting to the Account. Please see your Providers Cardholder Agreement for more information on funds availability.

You have no rights or other vested legal interest in the Cash Back until it has been posted to your Providers Card Account. The Cash Back has no cash value or other value of any kind until and to the extent it is actually deposited to your Providers Card Account and is non-negotiable. Prior to its deposit to your Providers Card Account, the Cash Back may not be transferred or assigned to any other party, and any attempt to do so shall be void and of no legal effect.

In the event of abuse, misuse, fraud, gaming of the Parachute by Providers Program, a return, successful chargeback, reversal, a full or partial refund of the transaction giving rise to the Cash Back, a merchant credit for the transaction, or as Propel otherwise determines is necessary, you agree to return the Cash Back amount to Propel. You further authorize Propel to debit your Account up to the full Cash Back amount for up to 120 days following the deposit of the Cash Back into your Account to facilitate the return of the Cash Back in such instances. If Propel determines that a return or adjustment of the Cash Back amount is necessary, you will not be eligible to receive additional Cash Back.

You may use the Cash Back by any means available to you through your Providers Card Account, and per the Propel Terms of Use. Once deposited, your Cash Back will not expire, and if you close your Providers Card Account, you will have the opportunity to transfer the Cash Back to an account elsewhere.

The Cash Back may qualify as taxable income to you. When laws require us to do so, we will report your Cash Back as income to the Internal Revenue Service, as well as state and local tax authorities. By participating in the Program, you are responsible for paying any federal, state, or local taxes you owe, or other connected fees.

The Cash Back may impact your federal or state benefits. You release Propel from all liability and claims related to participation in this program or receipt of cash payments.