(8249-2008/06)

Personal Account Agreement

1. Basic terms and definitions. In exchange for CIBC opening and operating one or more personal deposit accounts for you, you agree to be bound by the following terms. You confirm you have received the Disclosure Documentation and also agree to be bound by its terms, including any changes to or replacements of the Disclosure Documentation made by CIBC from time to time.

   You agree that this Agreement also replaces any existing personal account agreement or personal account services agreement you may have with CIBC. If you have a joint Account, the instructions that you provided to CIBC with respect to who may deal with the joint Account will continue in effect until you choose to change them.

   In this Agreement:

   "Account" means each personal deposit account you already have, as well as each account you asked CIBC to open for you when you signed the Signature Card or, if you signed a Signature Card in order to be added as a joint accountholder of an existing account or accounts, each such account;

   "Agreement" means this Personal Account Agreement;

   "Branch of Account" means the CIBC branch which administers the Account;

   "CIBC" means Canadian Imperial Bank of Commerce;

   "CIBC Convenience Card" means the card CIBC may issue you to enable you to perform transactions at automated bank machines and branches, directly debit (withdraw funds) for retail purchases from the Account, and otherwise deal with the Account;

   "Disclosure Documentation" means the Account fees disclosure documentation and, if the Account is an interest-bearing Account, the interest disclosure documentation you received when you opened the Account or were added as a joint accountholder, as applicable;

   "Instrument" means, among other things, a cheque or other bill of exchange, promissory note, draft, money order, order for payment, bill payment remittance, bankers' acceptance, coupon, electronic debit or credit or other payment instrument, whether negotiable or non-negotiable;

   "Online Banking" means the CIBC banking services available by Internet;

   "Signature Card" means the Account signature card you signed when opening each Account, or when requesting that you be added as a joint accountholder of the Account, as applicable;

   "Telephone Banking" means the CIBC banking services available by telephone;

   "You" and "your" means each person who has signed the Signature Card and, "all of you" means both or all such persons (as applicable).

2. You agree to examine your bankbook/Account statements. If your record-keeping is by:
   1. Bankbook.You agree to update your bankbook at least once every 30 days and examine all Account entries and balances at that time;
   2. Statement.CIBC will mail or otherwise send you a statement at your address as indicated in the Branch of Account's records. When you receive your statement, you agree to examine all Account entries and balances in it. If a statement is returned to CIBC because it cannot be delivered, you understand that until such time as you provide CIBC with a current mailing address no further statements will be sent to you and you will be bound by paragraphs 2(c) and 3(a) as if your record-keeping is paperless;
   3. Paperless.You agree to use Online Banking, Telephone Banking and/or CIBC automated bank machines at least once every 30 days in order to examine all Account entries and balances.
3. You agree to notify CIBC.If you believe that there are errors, omissions or irregularities in your Account entries or balances, you agree to notify CIBC, in writing, as follows:
   1. Bankbook or Paperless Record-keeping.Within 60 days after the date on which the entry was, or should have been, posted to your Account according to CIBC's records (that date may be different from the day printed in your bankbook or indicated when you review Account entries through Online Banking, Telephone Banking and/or CIBC automated bank machines), even if you have failed to update your bankbook or use Online Banking, Telephone Banking and/or CIBC automated bank machines to review Account entries as required by paragraph 2(a) or 2(c) above; and
   2. Statement. Within 30 days after the date on which the statement was mailed or otherwise sent to you. CIBC's records will be conclusive evidence of the date that CIBC mailed or sent you your Account statement.
4. Failure to notify CIBC.Failure to notify CIBC. If you do not notify CIBC of an error, omission or irregularity in writing and within the time period required by paragraph 3 above, then it will be finally and conclusively settled between CIBC and you that:
   1. all entries and balances are correct;
   2. all Instruments paid from the Account are genuine, duly authorized and properly signed;
   3. all amounts charged to your Account are properly chargeable to you;
   4. you are not entitled to be credited with any amount that is not shown in the bankbook or statement; and
   5. you release CIBC from all claims in connection with the Account.

   You will be bound by paragraphs 2, 3 and 4 of this Agreement even if your statement is delayed or never received for any reason (e.g. because it is lost in the mail or in transmission) or, if you select bankbook or paperless record-keeping, you do not update your bankbook or use Online Banking, Telephone Banking and/or CIBC automated bank machines to review your Account entries and balances at least once every 30 days.

5. Use of Account. Unless otherwise permitted by CIBC, you agree that your Account is to be used as a personal account only and not for business or non-personal purposes.
6. Instructions. You understand that CIBC, in its sole discretion, may act upon any written instructions or other information relating to your Account or dealings that is provided by ordinary mail or other delivery method approved by CIBC for use by you. If you choose to send instructions or notice to CIBC through ordinary mail, it must be sent to the Branch of Account unless CIBC agrees otherwise. Instructions or other information received by mail or other delivery method will be considered to have been received by CIBC only when it is brought to the attention of the officer at the Branch of Account to whom it is addressed. Instructions or information not addressed to any particular person will be considered to be addressed to the Manager.
7. Dormant Accounts. If your record-keeping is by monthly statements and there have been no deposits, withdrawals or cheques in your Account for six months, in the case of non-interest bearing Accounts, or twelve months, for all other Accounts, your record-keeping will be automatically changed to quarterly statements. Statements will not be sent to you if there are no entries posted to the Account in respect of transactions, interest, or service fees or other charges since either the date your Account was opened or the date of the last statement sent to you. You may request a change to your record-keeping by contacting CIBC. CIBC is entitled to close your Account if there have been no deposits, withdrawals or cheques for six months and the Account has a nil balance.
8. Report of loss/theft.You agree to maintain your bankbook, CIBC Convenience Card or other CIBC bank card, and cheques safely at all times and to take reasonable precautions to protect them. You must notify CIBC as soon as possible (but no later than 24 hours) after learning or suspecting that your bankbook, CIBC Convenience Card or any cheques have been lost or stolen, or if there are other circumstances from which one might reasonably infer that a fraud may occur in connection with the Account. Subject to any other agreement you may have with CIBC, CIBC will not be liable for any improper withdrawal from the Account or other loss if you have not given CIBC notice as required by this paragraph 8, or if your estate has not given the Branch of Account immediate notice of your death.
9. Liability for forgeries, etc.Liability for forgeries, etc. CIBC will not under any circumstances be liable to you for any loss, even if CIBC is notified within the time period required by paragraph 3 above, arising from any of the following:
   1. a forged or unauthorized endorsement on, or any alteration of, an Instrument drawn on your Account (unless CIBC negotiated the Instrument), and
   2. a forged or unauthorized signature upon an Instrument, unless you prove that you took all reasonable steps to prevent the forged or unauthorized signature and the resulting loss, and that despite that fact, the loss was unavoidable.
10. Money owing to CIBC. You authorize CIBC to charge its standard account service fees to your Account. (The fees are set out in the Disclosure Documentation, which will be revised or replaced from time to time).
11. Deposits. You agree not to make any deposits into a wallet or night depository unless you have executed a separate wallet or night depository agreement with CIBC.
12. Interest information. Interest is paid on interest-bearing Accounts at rates that vary from time to time. You acknowledge that, from time to time, CIBC may change interest rates and the method by which interest is calculated. If you have an interest-bearing Account, CIBC will advise you of the interest rate(s) and any changes to how interest is calculated by posting the new rate(s) and any interest calculation changes in all of CIBC's branches. You acknowledge that you may not receive interest on an interest-bearing Account if your balance falls below a certain level designated by CIBC or if the interest rate payable on such Account is zero percent.
13. Overdrafts. CIBC may, if it wishes, allow an overdraft to arise in your Account for any reason (including as a result of withdrawals, paying cheques, the charging of service fees, or otherwise). If CIBC does allow your Account to become overdrawn, then you must pay the amount by which your Account is overdrawn immediately. You authorize CIBC to charge to your Account its service fee(s) in respect of the overdraft, plus interest on the overdraft amount at the rate and in the manner specified in the Disclosure Documentation, as revised from time to time. Changes to the interest rate or how interest is calculated are effective when notice of the change is posted at CIBC branches or is mailed or sent to you or on any date set out in the notice. If you do not repay the amounts owing under this paragraph 13 (the "indebtedness") as required, you agree that CIBC may, without notice and at its sole discretion, convert your indebtedness to a demand loan, payable by you on the terms and conditions CIBC will provide. This conversion will take effect immediately and you hereby waive any right you may have to receive prior notice of the conversion. You acknowledge that CIBC will, upon conversion of your indebtedness to a loan, report your default to credit bureaus as a fully delinquent loan. CIBC may, in its sole discretion, close your Account, direct a third party to collect all indebtedness you owe to CIBC and/or assign your indebtedness to a third party for collection. If you have entered into a CIBC Overdraft Protection Service Agreement, this paragraph 13 is subject to that agreement.
14. Joint Accounts. If more than one accountholder signs the Signature Card, then this is a joint Account, and the following terms also apply:
    1. Statements. CIBC need not send Account notices or statements to all joint accountholders. Statements and notices will be effective and binding on all of you when they are provided to any one of the joint accountholders at the Branch of Account or when they are sent to any one of the joint accountholders at his/her latest address in the Branch of Account's records.
    2. Joint and Separate Liability. Each accountholder is individually liable, and all accountholders are jointly liable (or in Quebec, solidarily liable), to pay CIBC any amounts that any of you may owe in respect of the Account.
    3. Communications/Instructions. You authorize CIBC to communicate with any one joint accountholder in respect of matters relating to the joint Account. If you indicated on the Signature Card, or otherwise in writing, that any joint accountholder can deal with CIBC, then any joint accountholder may provide any instructions to CIBC regarding the operation of the joint Account including, but not limited to, transferring the joint Account from the Branch of Account to another CIBC branch or changing the joint Account address in the Branch of Account's records.
    4. Debits. (This paragraph 14(d) does not apply if the Signature Card indicates that all of you must sign cheques, receipts, other vouchers or payment Instruments.) CIBC may accept as a valid discharge any cheque, receipt, other voucher or payment Instrument which is signed by any of the joint accountholders specified on the Signature Card. CIBC has no obligation to obtain signatures or consents from all of you.
    5. Electronic and Other Debits. If you indicated on the Signature Card, or otherwise in writing, that debits can be made by one joint accountholder, then any joint accountholder may debit the joint Account by any means which CIBC may permit from time to time (including electronically, orally, by telephone, or otherwise). Each joint accountholder is responsible for any unauthorized debit which may occur by any of these means, to the extent provided in any agreement governing that method of debit.
    6. Deposits. Each joint accountholder authorizes CIBC to deposit to the Account all Instruments which are payable to, or for the credit or account of, any one or more joint accountholder(s), even if they are not endorsed by any joint accountholder.
    7. Joint Tenancy. (This paragraph will not apply if a joint accountholder is domiciled in Quebec at the time of his/her death.) All money which is now or may later be credited to the Account (including all interest) is the joint property of all of you with the "right of survivorship". That means that if one of the joint accountholders dies, all money in the Account automatically becomes the property of the other accountholder(s). In order to make this legally effective, all of you assign such money to the other accountholder (or to the others jointly if there is more than two accountholders).
    8. Incompetency/Capacity.If one joint accountholder is declared mentally incompetent or incapable of managing his/her affairs, all of you consent that the legally appointed representative of the incapacitated joint accountholder has the same right of access to the joint Account as did the incapacitated joint accountholder. CIBC may rely on a legally appointed representative who is acting for any one joint accountholder.
15. Set-off debts against Accounts. CIBC may apply a credit (positive) balance in any of your Accounts against any debt or liability you may owe to CIBC or any affiliate of CIBC no matter how long it has been owed. CIBC may do so in any manner it considers necessary without first giving you notice and regardless of whether the Accounts are individual or joint Accounts. This right operates despite any demands that may have been made by a third party. You acknowledge that in the event that CIBC or its affiliate receives notice of your bankruptcy, insolvency or similar arrangement, either CIBC or its affiliate, as applicable, can immediately exercise this right of set-off without prior notice to you. This right is in addition to any rights which CIBC may have at law or in equity in respect to set-off or consolidation of accounts.
16. CIBC's right to freeze or close your Account. CIBC may freeze or close your Account without notice if required by law or if at any time CIBC has reasonable grounds to believe that you did or may commit fraud, use the Account for any unlawful or improper purpose, cause a loss to CIBC, operate the Account in a manner unsatisfactory to CIBC or contrary to CIBC policies, or violate the terms of any agreement applicable to the Account or any account-related service. CIBC may also freeze or close your Account if you are a victim of fraud or identity theft in order to prevent future losses.
17. Legal representatives. If your legal representative demonstrates legal authority to act on your behalf (for example, by way of power of attorney), CIBC may accept and act in accordance with instructions from such representative.
18. Third party demands. CIBC will comply with any lawful third party demands that it receives in respect of your Account. You agree that if CIBC complies with a third party demand, it may charge its reasonable costs to do so against your Account, as disclosed in the Disclosure Documentation.
19. Instruments.
    1. Unpaid Instruments. You agree that a waiting period or "hold" as disclosed in CIBC's hold policy from time to time will be placed on the amount of Instruments deposited or transferred to your Account before you are able to withdraw the funds. CIBC may, however, in its sole discretion, establish an access to deposited funds limit for your Account which is the portion of your deposit to which you may have immediate access during the hold period. CIBC may change or cancel this limit at anytime and without notice to you. Instruments may be returned unpaid for any reason, either during or after the expiry of the applicable hold period, or after release by CIBC of the hold. You will be solely responsible for returned Instruments and CIBC has the right to charge the amount of any returned Instrument to the Account. In that case, CIBC may attempt on your behalf to obtain payment for the Instrument from the drawer of the Instrument or the drawer's financial institution, but CIBC will not be liable for doing so late or improperly or not doing so at all.
    2. Processing and Returns. You waive presentment, protest and notice of dishonour on every Instrument received by CIBC in any way for discount, deposit, collection or acceptance on your Account. You will be liable to CIBC for any Instrument received for your Account as if it was presented, protested and given notice of dishonour in the usual way. CIBC, in its discretion, may note or protest any such Instrument for any reason at your expense. CIBC will not, however, be liable to you for any failure or omission to note or protest any such Instrument.
    3. Outstanding Instruments. You will continue to be liable for Instruments drawn on or deposited to the Account which are outstanding and have not been cleared even after the Account has been closed.
20. Limitation of liability. You understand and agree that, except as otherwise provided in this Agreement, CIBC will be liable to you only for direct damages resulting from gross negligence, fraud or willful misconduct of CIBC arising directly from the performance of CIBC of its obligations under this Agreement and CIBC will not be liable to you for any other direct damages. In addition, CIBC will not under any circumstances be liable to you for any other damages, including, without limitation, indirect, incidental, special, punitive or consequential losses or damages, loss of profits, loss of revenue, loss of business opportunities, or any other foreseeable or unforeseeable loss resulting directly or indirectly out of this Agreement or the services provided to you, even if CIBC was advised of the possibility of damages or was negligent. These limitations apply to any act or omission of CIBC, its affiliates, agents or suppliers, whether or not the act or omission would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of law. Gross negligence in this paragraph means conduct (whether through action or inaction, or through words or silence) which is (i) a marked and flagrant departure from the conduct ordinarily expected of a reasonable and prudent person in the position of CIBC, or (ii) so wanton and reckless as to constitute an utter disregard for harmful, foreseeable and avoidable consequences.
21. Foreign currency transactions. CIBC may, in its discretion, permit transactions in a currency different from that of your Account. The foreign currency will be converted to the currency of your Account at the exchange rate determined by CIBC on a date determined by CIBC, which date may be different from the date you performed the transaction. You agree that foreign currency Instruments deposited to your Account and returned to CIBC unpaid for any reason will be converted to the currency of the account based on a foreign currency exchange sell rate determined by CIBC on a date determined by CIBC and the converted amount will be charged back to your Account. CIBC is not responsible for any losses you may incur due to changes in foreign currency exchange rates or the unavailability of funds due to foreign currency restrictions. You agree that any claims CIBC may have against you, and any service or other charges related to your Account, can be deducted from your Account in the same currency as your Account.
22. Non-residents.You will advise CIBC if you cease to be a Canadian resident, and agree to immediately pay to CIBC all amounts which you may owe under this Agreement, free and clear of all applicable taxes and withholdings.
23. Dealings with other branches. If you wish to perform Account transactions at a CIBC branch other than the Branch of Account, you agree to comply with CIBC's requirements in that regard. CIBC may charge to the Account the amount of any Instrument drawn on the Account, as soon as it is negotiated or deposited at any CIBC branch or agency. CIBC may pay the Instrument even if it is not physically delivered to or presented at the address of the CIBC branch shown on the front of the Instrument.
24. Conversion Accounts. If the Account has the same account number as an account that you previously opened (the "Old Account") and you have closed the Old Account, you instruct CIBC to transfer to this Account all agreements, orders, directions and authorizations relating to the Old Account. If any agreement governing the Old Account conflicts with this Agreement, the terms of this Agreement will apply.
25. Existing CIBC Investor's Rate Accounts. If you have a CIBC Investor's Rate Account, you understand that principal and interest owing to you in respect of that Account are owed by CIBC Trust Corporation and guaranteed by CIBC, and that CIBC is CIBC Trust Corporation's agent for administering that Account.
26. Additional Terms for Loyalty Programs.
    1. From time to time CIBC may specify Account transactions, other Account activity or other criteria ("Loyalty Eligibility Requirements") which may entitle you to earn loyalty rewards with a loyalty program, including Aeroplan's®1 loyalty recognition program, operated by an outside company (the "Loyalty Program Operator") in connection with your Account. You cannot earn loyalty rewards until CIBC has received, and CIBC and the Loyalty Program Operator have processed, your request for enrollment, including registering a valid loyalty program account number in association with your Account. You are not automatically enrolled with CIBC simply by virtue of having another CIBC product on which loyalty rewards may be earned (such as a CIBC credit card on which Aeroplan miles or other loyalty points may be earned). If you enroll with CIBC but do not provide a valid loyalty program account number, CIBC will request the Loyalty Program Operator to open a loyalty account in your name or, if your Account is joint, in the name of one accountholder selected by CIBC in its sole discretion (for joint Accounts, loyalty rewards are credited only to one accountholder). Loyalty rewards will be awarded only if your Account is still open and is still the same type of account at the time CIBC advises the Loyalty Program Operator to credit loyalty rewards to loyalty program accounts.
    2. CIBC's Account fees disclosure brochure describes the Loyalty Eligibility Requirements which CIBC may amend at any time; if CIBC does so in a manner that would reduce the number of loyalty rewards that already-enrolled accountholders may earn and/or the types of transactions on which they may earn loyalty rewards, CIBC will, at its option, send such accountholders (or for joint Accounts, one accountholder) a notice or post a notice in their Branch of Account, before or after the change is effective. CIBC may also amend this section 26 at any time, in which case a notice of the change will be directed only to enrolled accountholders (or for joint Accounts, one accountholder) rather than to all accountholders of CIBC Accounts.
    3. the Loyalty Program Operator's rules also apply to you, including but not limited to the rules about the expiry and redemption of loyalty rewards. The Loyalty Program Operator may change its rules or change or terminate its loyalty program at any time without notice to you. The Loyalty Program Operator is not CIBC's agent and is not responsible for your Account or its administration. CIBC is not the Loyalty Program Operator's agent and CIBC is not responsible for its loyalty program or its administration, including your ability or inability to redeem loyalty rewards. CIBC's arrangement with the Loyalty Program Operator may be changed or terminated at any time without notice to you.
    4. you agree that CIBC may share personal information with Loyalty Program Operators in order for them to open a loyalty account (if applicable), award loyalty rewards and otherwise administer their loyalty program.
27. Digital or electronic representations. You acknowledge that digital or electronic representations of Instruments, or the relevant information from the Instrument, may be made or captured and used by financial institutions involved in the exchange and clearing of payments in Canada and elsewhere, in which case the original paper item may be destroyed and not returned to you. CIBC is entitled to act upon such a representation or information for all purposes as if it were the original paper item. You acknowledge that CIBC and other financial institutions may reject any Instrument that does not comply in all respects with all applicable by-laws, regulations, rules and standards of the Canadian Payments Association.
28. Changes to this Agreement. CIBC is entitled to change this Agreement from time to time. If CIBC does, it will give you notice that this Agreement has been or will be changed by (at its option) sending you notice, or posting a notice in the Branch of Account. The change, may, but need not, be effective on the date that the notice is mailed or posted.
29. Governing law. This Agreement shall be governed by and construed in accordance with the laws where the Branch of Account is located and the laws of Canada.

®1Registered trademark of Aeroplan Limited Partnership. CIBC is an authorized licensee of the mark.

Personal Information

CIBC may collect Information during the course of your relationship with CIBC from credit bureaus, other financial institutions, and references you provide to CIBC. CIBC may also disclose Information to credit bureaus and financial institutions. (The word "Information" means financial and financially-related information about you, including information to identify you or qualify you for products and services, or information that CIBC needs for regulatory requirements.) CIBC may use Information to identify you, protect both you and CIBC from fraud and error, understand your needs and eligibility for services, recommend particular products and services to meet your needs, provide ongoing service, and comply with legal and regulatory requirements. This is explained in the CIBC privacy brochure, Your Privacy Is Protected, available at any branch or www.cibc.com, which describes how the CIBC Group collects, uses, discloses, and retains information about you and the products and services you use.

Specific Consents:

1. Direct Marketing. CIBC may tell you about products and services through direct mail, telephone, and other direct means.
2. Disclosure within the CIBC Group, CIBC may share Information within the CIBC Group, unless prohibited by law, so that the CIBC Group may tell you about products and services.

Notice Re: Credit Bureau

CIBC may have obtained a credit report on you in connection with your application from Equifax Canada or Trans Union of Canada Inc. If you wish to review your credit bureau file, contact Equifax Canada, Consumer Relations Department, P.O. Box 190, Station Jean Talon, Montreal, Quebec H1S 2Z2, 1-800-465-7166 and/or Trans Union of Canada Inc., Consumer Relations Centre, P.O. Box 338 LCD1, Hamilton, Ontario L8L 7W2, 1-877-713-3393 (Quebec) or 1-800-663-9980 (all other provinces).

CIBC Overdraft Protection Service Agreement

1. Basic terms and definitions. If CIBC approves you for the Service, you will be bound by this Agreement for each Account for which the Service is approved by CIBC from time to time. If more than one person is approved for the Service, then each person is individually liable, and all such persons are jointly liable (in Quebec, all such persons are solidarily liable), for the payment of Indebtedness and the performance of all other obligations required of you under this Agreement. Unless the context requires otherwise, words appearing in this Agreement in the singular number will include the plural number, and vice versa.

   The following words and phrases have a special meaning:

   "Account Withdrawal" means a debit to an Account by any means permitted by CIBC from time to time, including but not limited to, withdrawals in-branch or by bank machine; transfers between accounts (e.g. in-branch, through Telephone Banking or Online Banking or by bank machine); pre-authorized debits/payments and cheques; Interac direct payments; bill payments from an Account (e.g. in-branch, through Telephone Banking or Online Banking or by bank machine); and fees.

   "Account" means each account at CIBC or a CIBC affiliate for which you are approved for the Service by CIBC from time to time;

   "Agreement" means this CIBC Overdraft Protection Service Agreement

   "CIBC" means Canadian Imperial Bank of Commerce;

   "CIBC Overdraft Protection Service" or the "Service" means this overdraft protection service;

   "Indebtedness" means the total amount overdrawn at any point in time in all Accounts, including, but not restricted to, the amount you have drawn on each Account, accruing interest on that amount, and interest and fees debited to the Account to the extent such draws, interest and fees create or increase an overdraft in the Account;

   "Online Banking" means the CIBC banking services available by Internet;

   "Overdraft Limit" means the overdraft limit approved by CIBC for each Account, but if you have the Service on more than one Account, it means the overdraft limit approved by CIBC for each separate Account as well as the single total overdraft limit approved by CIBC for all your Accounts collectively;

   "Telephone Banking" means the CIBC banking services available by telephone;

   "You" and "your" refer to each person who applies for the Service by signing the attached application (the "Application");

2. Creation of overdrafts. You are entitled to overdraw your Account from time to time in accordance with the terms of this Agreement. A joint Account may be overdrawn by the accountholder(s) specified on the Application.
3. Repayment of Indebtedness. You will pay all Indebtedness on demand by CIBC. For each calendar month in which an Account is overdrawn, you must make a minimum deposit to your Account (of $100 or Indebtedness, whichever is less). At least once every six months, you must make deposits sufficient to bring your Account into a positive balance for at least one full business day (a "business day" means a day from Monday to Friday, on which CIBC branches are open for business in your province of residence). Deposits to your Account are treated as repayments of Indebtedness. You can use the Service to pay off other debts, but you cannot move your debts around (whether with CIBC or loans you may have from another lender). You will not use the Service to repay Indebtedness. In other words, you will not attempt to satisfy your obligation to repay Indebtedness by taking an Account Withdrawal on one Account and transferring the amount withdrawn into another Account.
4. Interest and fees:
   1. Minimum Monthly Overdraft Charge. For each calendar month in which an Account is overdrawn, you will pay CIBC interest on the Indebtedness, currently 21% per year, calculated in accordance with paragraph 4(b). Further, in any calendar month in which you create or increase your Indebtedness, based on end of day balances, you will pay CIBC a charge of $5.00. If CIBC chooses to process a debit which results in your exceeding your Overdraft Limit (based on end of day balances), you will pay CIBC a charge of $5.00 plus interest on the Indebtedness, currently 21% per year, calculated in accordance with paragraph 4(b).
   2. Interest. Interest will be calculated and debited monthly to the Account to which it relates, based on the final daily Indebtedness in the Account throughout the calendar month. The rate of interest you will pay is the nominal annual interest rate set by CIBC from time to time in accordance with paragraph 7. Interest at the rate set by CIBC will apply both before and after the Indebtedness becomes payable, before and after this Agreement is terminated, and before and after judgment is obtained against you.
   3. Other Charges. You authorize CIBC to debit to any Account CIBC's standard charge for processing your Application and any other fees established by CIBC from time to time, after CIBC notifies you in accordance with paragraph 7.
5. Overdraft limit. CIBC has set an Overdraft Limit for your Account (or each Account, if the Service applies to more than one Account). You will not make an Account Withdrawal which would cause your Overdraft Limit to be exceeded. CIBC has absolutely no obligation to pay an Account Withdrawal that would cause your Indebtedness to exceed your Overdraft Limit or to be further exceeded, if CIBC has allowed the Overdraft Limit to be exceeded already; CIBC may, if it so decides, simply return the Account Withdrawal unpaid. If CIBC should choose to allow one or more such Account Withdrawals, it has no obligation to do so again, at any time in the future. Should CIBC choose to allow the Indebtedness to exceed the Overdraft Limit, the overdraft terms in the CIBC Personal Account Agreement will apply to the portion of the Indebtedness that exceeds the Overdraft Limit. In other words, the fees that apply when there is no Service will apply to the Account Withdrawals that exceed the Overdraft Limit; interest at the interest rate that applies when there is no Service will apply on the portion of Indebtedness which exceeds the Overdraft Limit; and, you must repay that portion in accordance with the terms of the CIBC Personal Account Agreement.
6. Breach and termination of agreement. CIBC may, in its discretion, suspend your access to the Service or terminate this Agreement without notice to you and refuse to pay any more Account Withdrawals, including Account Withdrawals you made/issued/authorized before the Agreement is terminated. If this Agreement is terminated, CIBC will give you notice of such termination and you must immediately repay all Indebtedness to CIBC, without demand. If you do not repay the Indebtedness as required under this Agreement or any other amount you owe CIBC when it is due (whether owed under this Agreement or some other agreement you have with CIBC), you agree that CIBC may, without notice and at its sole discretion, convert your Indebtedness to a demand loan, payable by you on the terms and conditions CIBC will provide. Upon conversion of your Indebtedness to a loan, CIBC will immediately cancel the Service. This conversion will take effect immediately and you hereby waive any right you may have to receive prior notice of the conversion. You acknowledge that CIBC will, upon conversion of your Indebtedness to a loan, report your default to credit bureaus as a fully delinquent loan. CIBC may, in its sole discretion, direct a third party to collect all Indebtedness you owe to CIBC or assign your Indebtedness to a third party for collection.
7. Changes to this agreement, the interest rate or fees. CIBC is entitled to change the Agreement, the interest rate and/or the fees which apply to the Service for any reason at any time. Changes to this Agreement or the interest rate are effective when notice of the change is posted at CIBC branches or is mailed or sent to you or on any date set out in the notice. For changes to fees, the notice of the changes must be posted at CIBC branches or mailed or sent to you at least thirty days before the change is effective. Any change in accordance with this paragraph 7 will apply to Indebtedness existing on the date the change is effective and to Indebtedness arising after that date.
8. Changes to overdraft limit and other changes. CIBC is entitled to change the Overdraft Limit and to make other changes to the Agreement or the Service for any reason at any time. Changes, under this paragraph 8, are effective when notice is mailed or sent to you or on any date set out in the notice, at your address on the Application or any other address CIBC has in connection with any Account. If more than one accountholder signs the Application, then you authorize CIBC to mail or send the notice to only one accountholder. Any change in accordance with this paragraph 8 will apply to Indebtedness existing on the date the change is effective and to Indebtedness arising after that date.
9. Non-residents. You will advise CIBC if you cease to be a Canadian resident. CIBC may then, in its sole discretion, immediately terminate this Agreement and require you to pay CIBC all amounts which you may owe under this Agreement, free and clear of all applicable taxes and withholdings.
10. Miscellaneous. Your obligations in sections 3, 4, 5, 6, 7 and 8 will survive (continue to be in effect after) the termination of this Agreement. If any term of the CIBC Personal Account Agreement conflicts with a term in this Agreement, the term in this Agreement applies to the extent necessary to resolve the conflict. This Agreement shall be governed by and construed in accordance with the laws where the applicable CIBC branch/centre is located and the laws of Canada.

You agree to be bound by the above CIBC Overdraft Protection Service Agreement (signature only required for Quebec residents).

(8249-2008/06)