Common use of GENERAL RECOMMENDED SECURITY MEASURES Clause in Contracts

GENERAL RECOMMENDED SECURITY MEASURES. By accessing Bank Services, the Company acknowledges that it has reviewed the security measures and protocols established by the Bank below and herein. The Company agrees that the security measures employed by the Bank are commercially reasonable. The Company agrees that the Bank is not responsible for any losses due to the Company’s lack of security protocols regarding its own computer systems, networks, and authentication mechanisms (i.e., passwords, security tokens, etc.). The Company understands the importance of these security measures and agrees that it is responsible for each of the following areas (a) Access Controls - Security of the Company user accounts passwords and access tokens (herein referred to as credentials) is of the upmost importance. Specific security measures should be used to ensure the security of these credentials. The Company agrees that it will (i) use credentials in a secure environment; (ii) allow only Authorized Persons to have access to the Company credentials; (iii) change the Company passwords on a regular basis and (iv) immediately notify the Bank if it believes that the Company credentials granting access to the Bank services have been compromised, (v) approve and monitor all delegation of access and credentials such that delegated access and authority is appropriate for each and every entity contained in this agreement. If the Company authentication credentials do fall into the wrong hands or are otherwise compromised, the Company agrees it is responsible for losses incurred. Additionally, the Company agrees to cooperate with the Bank on any investigation and prosecution of any individuals who gain access to the Company accounts through the unauthorized disclosure or theft of the Company authentication credentials. (b) Operational Controls - The Company may want to consider utilizing: i. Dual control to initiate ACH and wire transfers; ii. Automatic wire, ACH, and online alerts, to include event alerts, balance alerts, item alerts, and personal alerts; iii. Online access to reconcile all banking transaction daily; iv. Audits to ensure that security measures are implemented properly and effectively; and v. Education to employees about security measures and the dangers of user access.