Common use of ARBITRATION AND WAIVER OF CLASS ACTION Clause in Contracts

ARBITRATION AND WAIVER OF CLASS ACTION. Please read this Arbitration and Waiver of Class Action section carefully. IF YOU AND FSB ARE UNABLE TO RESOLVE A DISPUTE, YOU AND FSB AGREE THAT UPON ELECTION BY EITHER YOU OR FSB, ANY COVERED CLAIM SHALL BE RESOLVED BY ARBITRATION ON AN INDIVIDUAL BASIS ACCORDING TO THE TERMS OF THIS ARBITRATION AND WAIVER OF CLASS ACTION SECTION. ACCORDINGLY, YOU AGREE TO WAIVE YOUR RIGHT TO A TRIAL BY A JUDGE OR JURY OR TO PARTICIPATE IN A COLLECTIVE OR CLASS ACTION AGAINST FSB IN CONNECTION WITH ANY COVERED CLAIM. THIS ARBITRATION AND WAIVER OF CLASS ACTION SECTION SHALL BE GOVERNED BY THE FEDERAL ARBITRATION ACT, AND TO THE EXTENT THAT LOCAL LAW APPLIES, BY THE LAWS OF THE STATE OF TEXAS. Arbitration is a method of resolving disputes without filing a lawsuit in court. In arbitration, parties present their dispute to a neutral third person – called an arbitrator – instead of a judge or jury. Generally, arbitration is faster, less expensive and simpler than a lawsuit in court. Arbitrators apply the same laws and can award the same remedies as a court, and parties have the right to be represented by attorneys in arbitration. Covered Claims must be arbitrated if either you or FSB elect arbitration. A Covered Claim is any pre-existing, present, or future claim, dispute or controversy between you and FSB concerning a deposit account covered by this Agreement (a “Covered Claim”). The term “Covered Claim” is intended to be broadly interpreted, and includes, but is not limited to, claims: • arising out of or relating to any aspect of the relationship between you and FSB, whether based on contract, tort, fraud, misrepresentation, or any other statutory or common-law legal theory, regardless of the remedy sought or whether the claim pertains to this Agreement or a prior or future version of it; • relating to advertising or disclosures for any of FSB’s products or services; • relating to your past, present, or future accounts, including the establishment, operation, servicing, collections, or termination of your accounts, transactions involving or relating to your accounts, or any products, services, or benefits offered in connection with your accounts; • relating to the retention, protection, use, or transfer of information about you or any of your accounts for any of our products or services; • relating to communications with you concerning your accounts or any of our products or services, including emails and automatically dialed calls and text messages; • claims that may arise after the termination of this Agreement; and • relating to the interpretation of “Covered Claim,” or the enforceability, scope or interpretation of this Arbitration and Waiver of Class Action section. Instead of proceeding to arbitration, either you or FSB have the option to pursue a Covered Claim on an individual basis in a Small Claims Court (or the equivalent) as long as the action remains in that court, does not seek relief on behalf of or affecting the accounts of other customers, and is not removed or appealed to a court of general jurisdiction, in which case either party may elect arbitration. All arbitrations will be conducted by the American Arbitration Association (“Administrator”) in accordance with the Administrator’s Consumer Arbitration Rules (“Administrator’s Rules”), as modified by this Arbitration agreement. You may contact the Administrator to obtain arbitration information, the Administrator’s Rules, and any claim forms and fee schedules: American Arbitration Association (“AAA”) ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇ New York, NY 10017-4605

ARBITRATION AND WAIVER OF CLASS ACTION. Please read this Arbitration and Waiver of Class Action section carefully. IF YOU AND FSB ARE UNABLE TO RESOLVE A DISPUTE, YOU AND FSB AGREE THAT UPON ELECTION BY EITHER YOU OR FSB, ANY COVERED CLAIM SHALL BE RESOLVED BY ARBITRATION ON AN INDIVIDUAL BASIS ACCORDING TO THE TERMS OF THIS ARBITRATION AND WAIVER OF CLASS ACTION SECTION. ACCORDINGLY, YOU AGREE TO WAIVE YOUR RIGHT TO A TRIAL BY A JUDGE OR JURY OR TO PARTICIPATE IN A COLLECTIVE OR CLASS ACTION AGAINST FSB IN CONNECTION WITH ANY COVERED CLAIM. THIS ARBITRATION AND WAIVER OF CLASS ACTION SECTION SHALL BE GOVERNED BY THE FEDERAL ARBITRATION ACT, AND TO THE EXTENT THAT LOCAL LAW APPLIES, BY THE LAWS OF THE STATE OF TEXAS. Arbitration is a method of resolving disputes without filing fling a lawsuit in court. In arbitration, parties present their dispute to a neutral third person – called an arbitrator – instead of a judge or jury. Generally, arbitration is faster, less expensive and simpler than a lawsuit in court. Arbitrators apply the same laws and can award the same remedies as a court, and parties have the right to be represented by attorneys in arbitration. Covered Claims must be arbitrated if either you or FSB elect arbitration. A Covered Claim is any pre-existing, present, or future claim, dispute or controversy between you and FSB concerning a deposit account covered by this Agreement (a “Covered Claim”). The term “Covered Claim” is intended to be broadly interpreted, and includes, but is not limited to, claims: • arising out of or relating to any aspect of the relationship between you and FSB, whether based on contract, tort, fraud, misrepresentation, or any other statutory or common-law legal theory, regardless of the remedy sought or whether the claim pertains to this Agreement or a prior or future version of it; • relating to advertising or disclosures for any of FSB’s products or services; • relating to your past, present, or future accounts, including the establishment, operation, servicing, collections, or termination of your accounts, transactions involving or relating to your accounts, or any products, services, or benefits offered benefts ofered in connection with your accounts; • relating to the retention, protection, use, or transfer of information about you or any of your accounts for any of our products or services; • relating to communications with you concerning your accounts or any of our products or services, including emails and automatically dialed calls and text messages; • claims that may arise after the termination of this Agreement; and • relating to the interpretation of “Covered Claim,” or the enforceability, scope or interpretation of this Arbitration and Waiver of Class Action section. Instead of proceeding to arbitration, either you or FSB have the option to pursue a Covered Claim on an individual basis in a Small Claims Court (or the equivalent) as long as the action remains in that court, does not seek relief on behalf of or affecting afecting the accounts of other customers, and is not removed or appealed to a court of general jurisdiction, in which case either party may elect arbitration. All arbitrations will be conducted by the American Arbitration Association (“Administrator”) in accordance with the Administrator’s Consumer Arbitration Rules (“Administrator’s Rules”), as modified modifed by this Arbitration agreement. You may contact the Administrator to obtain arbitration information, the Administrator’s Rules, and any claim forms and fee schedules: American Arbitration Association (“AAA”) ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇ New York, NY 10017-4605