Terms and Conditions Governing the Convert to Installment Program In these Terms and Conditions Governing the Convert to Installment Program (“Terms and Conditions”), the term “Card” means all credit cards issued by Bank of Commerce (“Bank”). The term “Cardholder” means the person at whose request one or more Cards have been issued by the Bank. The Cardholder hereby agrees to the following Terms and Conditions: 1. Convert to Installment Program is a Bank of Commerce Mastercard facility which allows Cardholders with active and current status to convert a retail transaction to an Installment Plan, which together with applicable interest and other fees shall be paid for by the Cardholder on a monthly installment basis. Cash Advance transactions, casino and gambling transactions, interest charges, fees, installment amortizations and US Dollar billed transactions are not convertible under the Convert to Installment Program facility. A single or accumulated retail transaction of at least P3,000 is required for 3, 6, 9 and 12 months term and P10,000 for 18, 24 and 36 months term. Convert to Installment Program requests should be received by the Bank at least three (3) banking days before the Payment Due Date indicated on the Cardholder’s Statement of Account; such requests will be subject to verification and credit approval by the Bank. The approved Convert to Installment Program Amount must not exceed the unused portion of the Credit Limit of the Cardholder. Moreover, rewards points earned from the retail transaction applied for conversion will be deducted from the Card account upon conversion, and will be credited back monthly in such amounts corresponding to the portion of the principal component of the monthly installment billed on the Statement of Account. 2. Where the Bank approves a request for Convert to Installment Program, the total Convert to Installment Program amount (“Total Convert to Installment Program Amount”) shall be subject to these Terms and Conditions as well as the Terms and Conditions Governing the Issuance and Use of Bank of Commerce Mastercard (“Card T&C”). 3. The Monthly Installment Due forms part of the minimum amount due in the statement of account of the Card. The Monthly Installment Due is computed as the Convert to Installment Program Amount multiplied by the Factor Rate. The Total Amount Payable is computed as the Monthly Installment Due multiplied by the Term. The following is a sample computation for 12 month term: Monthly Installment Due Convert to Installment Program Amount x Factor Rate P10,000 x 0.096333 P963.33 Total Amount Payable Monthly Installment Due x Term P963.33 x 12 P11,559.96 The computation of interest and principal components of the Monthly Installments Due shall be on a diminishing balance basis, and the interest and principal portions of the Monthly Installments Due will not be equal from month to month. The first Monthly Installment Due shall be billed to the Cardholder beginning on the Cardholder’s next statement date and succeeding Monthly Installments Due shall be billed every month thereafter until the Total Amount Payable is paid in full. AMOUNT 10,000 MONTHLY ADD-ON RATE 1.30% EIR 27.65% Month Monthly Installment Interest Component Principal Component Outstanding Principal Balance 0 10,000.00 1 963.33 230.39 732.94 9,267.06 2 963.33 213.50 749.83 8,517.23 3 963.33 196.22 767.11 7,750.12 4 963.33 178.55 784.78 6,965.34 5 963.33 160.47 802.86 6,162.48 6 963.33 963.33 821.36 5,341.13 TERM 12 MONTHS APPROVAL DATE 1/1/2016 NEXT STATEMENT DATE 2/1/2016 Month Monthly Installment Interest Component Principal Component Outstanding Principal Balance 7 963.33 123.05 840.28 4,500.85 8 963.33 103.69 859.64 3,641.21 9 963.33 83.89 879.44 2,761.77 10 963.33 63.63 899.70 1,862.07 11 963.33 42.90 920.43 941.64 12 963.33 21.69 941.64 0 TOTAL 11,559.96 1,559.96 10,000.00 In case of pre-termination or cancellation of Convert to Installment Program, the Cardholder shall be liable to pay in full the unpaid principal component of the Total Amount Payable and an Installment Pre-Termination Fee equivalent to P1,000. In case of special promotions wherein the Bank gives the Cardholder special premiums (includes promotional items, rewards points, rebates, etc.), the Bank has the discretion to charge the full monetary equivalent of the premium should the Cardholder pre-terminate or cancel the Convert to Installment Program. The equivalent amount will be charged to the Cardholder’s Card account on the next statement date following the date of pre-termination or cancellation. 4. The Cardholder agrees to pay the Bank interest on the Total Convert to Installment Program Amount on the dates specified in the Statement of Account at the applicable monthly add-on rate with a corresponding effective interest rate per annum based on the outstanding principal balance when the respective Statement of Account is generated and the Term as follows: NOTE: RATES BELOW ARE SUBJECT TO CHANGE BY BANK OF COMMERCE Term Monthly Add-On Rate Factor Rate Effective Interest Rate per Annum 3 1.70% 0.350333 30.35% 6 1.50% 0.181667 30.23% 9 1.50% 0.126111 31.32% 12 1.30% 0.096333 27.65% 18 1.60% 0.071556 33.74% 24 1.80% 0.059667 37.17% 36 1.80% 0.045778 35.95% If the Cardholder pays only a portion of his Total Amount Due as indicated in the Statement of Account, the unpaid portion of the Monthly Installment Due shall be subject to the monthly finance charge at the prevailing rate of 3.25% for Classic and Gold Cards and 2.95% for Platinum Cards. Usual late payment charge applies. In the event that the Card account is 90 days or more past due, the Convert to Installment Program will automatically be cancelled, and any remaining unpaid balance will be billed to the Card account in full as a single regular retail transaction. Once billed in full, the remaining balance will be subject to the monthly finance charge. 5. Except insofar as they may be inconsistent with these Terms and Conditions, the provisions of the Card T&C shall continue to apply to the Total Convert to Installment Program Amount applied under the Convert to Installment Program Facility. These Terms and Conditions shall be read and construed with the Card T&C so as to produce a result that is harmonious and consistent; Provided, that in the event of any inconsistency or conflict between the provisions of these Terms and Conditions and the Card T&C, the provisions of these Terms and Conditions shall prevail in relation to the Total Convert to Installment Program Amount applied under the Convert to Installment Program. Unless clearly and unambiguously provided in these Terms and Conditions, there shall be no diminution of the obligations of the Cardholder under the Card T&C. Program Mechanics 1. The Convert to Installment Program is open to all principal cardholders of Bank of Commerce whose accounts are active and current. 2. The cardholder may convert single or accumulated retail transactions of at least P3,000 to installment payments at 3, 6, 9 and 12 month terms and P10,000 at 18, 24 and 36 month terms. 3. The qualified transactions are unbilled retail transactions and billed retail transactions that are reflected in the cardholder’s latest statement of account. Cash Advance transactions, casino and gambling transactions, interest charges, fees, installment amortizations and US Dollar billed transactions are not eligible. 4. The monthly add-on rates shall be as follows: Term Monthly Add-On Rate Factor Rate Effective Interest Rate per Annum 3 1.70% 0.350333 30.35% 6 1.50% 0.181667 30.23% 9 1.50% 0.126111 31.32% 12 1.30% 0.096333 27.65% 18 1.60% 0.071556 33.74% 24 1.80% 0.059667 37.17% 36 1.80% 0.045778 35.95% 5. To apply, the cardholder must call Bank of Commerce Customer Care at (02) 632-2265 or toll free numbers 1-800-10-9826000 for PLDT or 1-800-8-9826000 for Globelines at least three (3) banking days before the Payment Due Date. 6. Rewards points earned from the retail transaction applied for conversion shall be deducted from the Card account upon conversion, and shall be credited back monthly in such amounts corresponding to the portion of the principal component of the monthly installment billed on the Statement of Account.