Version: [06/2020]

modum.io AG, Zurich, Switzerland (trade register number CHE 432.725.589) (“Modum” or “we“)

1. Subject. These terms and conditions, including our Privacy Declaration and Terms of Use (“Token App Terms”) govern your access to and use of this Token App to swap MOD Token either (a) against a monetary compensation or (b) against Modum participation certificates (“Token Swap”).

2. Access and Access Restrictions. If you are a resident or national of a country which does not appear in the drop-down menu in the respective section of the Token App, you are excluded for legal reasons from further registration and from the Token-Equity Swap. Upon successful completion of the identity verification procedure you must carefully read the Token-Equity Swap terms. These will provide for further exclusions and/or restrictions. Only upon your explicit confirmation that you are not subject to the any of those exclusions or restrictions you are eligible to participate in the Token-Equity Swap procedure.

3. Identity Verification. You will have to provide a foto of your face and of your passport or Identity card. The identity verification will be performed by a a third party (Onfido Ltd, London, UK, www.onfido.com). Onfido is a subcontractor of Modum. Use of the Onfido platform is subject to these Token App Terms. In case you do not pass the identity check you will be excluded from the Token-Equity Swap.

4. Token-Equity Swap Procedure. After your acceptance of the Token Swap terms you will have to provide your choice on whether (a) you swap your MOD token against monetary compensation or (b) you swap your MOD token against Modum participation certificates. If you choose (a) you will have to provide your bank account details required for the monetary compensation. For both choices (a) and (b) you have to request the generation of a personal token burn address. When you send your MOD token to the burn address, this constitutes your offer to us to swap your MOD Token according to the Token Swap terms and your respective choice. Our confirmation of receipt of your MOD Token at the burn address constitutes our confirmation of your entitlement / eligibility to receive monetary compensation or Modum participation certificates as set out in the Token Swap terms.

5. Limitation of Liability. We exclude all liability to the extent permitted by law. In no event shall Modum, its service-providers, affiliates or any of their directors, employees or advisors be liable for any direct, indirect or consequential damages, or any other damage of any kind, including but not limited loss of profits, arising out of or in any way connected with the use of or inability to use the Token App or the content contained in or accessed through the Token App, including without limitation any damages that result from acts of god, mistakes, omissions, defects, viruses, unauthorized access, delays or failure in operation, communication or transmission.

6. Amendments: We reserve the right to amend our Token App Terms. Significant changes will be communicated in adequate manner.

7. Subcontracting: Modum may use subcontractors to service and/or maintain this Token App and/or any functionality thereof.

8. Assignment: We reserve the right to assign the operation of the Token App and to communicate such assignment by appropriate means.

9. Severability: If any court or competent authority decides that any provisions of these Token App Terms or a contract concluded through our Token App is invalid, unlawful or unenforceable under the applicable law, such provision shall be changed and interpreted so as to best accomplish the objectives of the original provision to the fullest extent allowed by law. The remaining provisions remain in force and effect.

10. Applicable law and place of jurisdiction: These Token App Terms and all matters arising or relating to thereto shall be governed by the laws of Switzerland, under the exclusion of its conflict laws provisions and the UN convention on the contracts for international sale of goods. The courts of Zurich, Switzerland, shall have exclusive jurisdiction.