Terms and Conditions

NTOUCH by Verso MOBILE APPLICATION TERMS AND CONDITIONS 1. INTRODUCTION AND SCOPE

1.1. Verso Financial Services Proprietary Limited ("Verso", "we" or "us") specialises in pension fund administration and provides such pension fund administration services to its clients (referred to as "members" in these Terms) through appointed trustees.

1.2. Verso has developed the mobile application software and associated media known as the "InTouch by Verso” Mobile Application ("INTOUCH Application") to enable members to view information, receive notifications and carry out certain operations via mobile phones and other devices.

1.3. These terms and conditions ("Terms") constitute a legally binding agreement between you ("member" or "you") and Verso for your use of the INTOUCH Application.

1.4. We license use of the INTOUCH Application to you on the basis of these Terms. The use of the INTOUCH Application is also subject to any rules or policies applied by any application store provider or operator ("Appstore Rules") from whose website you downloaded the INTOUCH Application ("Appstore").

1.5. We do not sell the INTOUCH Application to you under these Terms and we remain the owner of the INTOUCH Application at all times.

2. MEANING OF WORDS AND PHRASES

2.1Specific meanings (definitions) have been given to some words and phrases in these Terms. These words and phrases start with a capital letter. The only defined words that do not always have a capital letter are the words 'you', "your", 'we' and 'us'.

2.2 A full list of the defined words and phrases, and also the meanings we have given them, is in paragraph 14.2. Sometimes the definitions of a word or phrase can also be found in a paragraph where we use the word or phrase. These words and phrases that have been defined will have the same meaning wherever they are used in these Terms.

3. HOW TO ACCESS AND DOWNLOAD THE INTOUCH BY VERSO APPLICATION

3.1 Devices

3.1.1 To access the INTOUCH Application you must have a Device that is able to connect to the Internet.

3.1.2 The Device must be supported by the following operating system requirements:

3.1.2.1 Android Mobile OS Versions - 4.1 (Jelly Bean), 4.2 (Jelly Bean);

3.1.2.2 Android Tablet OS Versions - 4.1 (Jelly Bean), 4.2 (Jelly Bean); and

3.1.2.3 Apple iOS - 7.1.2 and 9.0;

3.1.3 Certain Devices and operating software may not work with the INTOUCH Application due to limitations or constraints specific to the Device or the software. We will not be responsible for your inability to access the INTOUCH Application due to limitations specific to your Device.

3.1.4 You, at your own cost, are responsible for obtaining and maintaining:

3.1.4.1 The Devices,

3.1.4.2 Adequate and reliable Internet access from a suitable service provider; and

3.1.4.3 All telecommunication facilities, services, products and other equipment needed to access the Internet or to download the INTOUCH Application.

3.1.5 If the Device does not belong to you, you hereby confirm and promise that you have obtained permission from the owners of the Device to download or install the INTOUCH Application onto the relevant Device and to use the INTOUCH Application subject to these Terms. You and/or they may be charged by the relevant service provider for Internet access on the Device.

3.1.6 You accept responsibility in accordance with these Terms for the use of the INTOUCH Application on or in relation to any Device, whether or not it is owned by you. We are not responsible for any Internet access charges, service provider charges and data usage charges. These charges must be paid by you or the owner of the Device.

3.2 You must download and install the INTOUCH Application on to your Device from the Appstore.

3.3 You will only be able to access the Services via the INTOUCH Application. You must register and create an account if you want to access the Services. 4. ACCEPTANCE OF THE TERMS

4.1.1 You must agree to these Terms if you want to use the INTOUCH Application and Services.

4.1.2 By downloading the INTOUCH Application and clicking on the “Agree” button you agree to these Terms and this will become a binding legal contract between you and us.

4.1.3 If you do not agree to these Terms you must immediately stop using the INTOUCH app by clicking on the "Disagree" button. In this case the INTOUCH app will terminate and we will not license the INTOUCH Application to you.

4.1.4 We may change the provisions of these Terms at any time by sending you an email with details of the change or notifying you of a change the next time you load the INTOUCH Application. The new terms may be displayed on-screen and you may be required to read and accept them to continue your use of the Services.

5. HOW TO REGISTER

5.1 Registration

5.1.1 Once you have downloaded the INTOUCH Application, you must register to use the Services.

5.1.2 As part of the registration process, you will be required to create a member account. You can do this by completing the electronic registration form which will include:

5.1.2.1 creating a password;

5.1.2.2 providing us with all the information we require, including but not limited to a valid email address and contact number; Please visit www.verso.co.za and click on the Client Login button. Continue to click on the “Create a New User Account” and complete the fields as indicated.

5.1.3 Once you have provided us with your registration details and agreed to these Terms we will confirm your registration by sending you a SMS that will provide you with your username and password.

5.1.4 All information you give us must be truthful, accurate and complete. This also includes the information that we request you to provide in the registration process and at any time after that. Your registration can also be rejected if you fail to properly complete the electronic registration process.

6 YOUR ACCOUNT

6.1 After you complete the registration process described in paragraph 5, we will create your account.

6.2 You will need to use your member number and password in order to access your account and to use the Services.

6.3 Keeping your account secure and your password secret

6.3.1 You must keep your password secret.

6.3.2 You are responsible for all use of your account and your password.

6.3.3 If you forget your password, or you want to change your password, you can do so by logging on to the Neuron Web Site at www.verso.co.za and selecting Client Login. Proceed by clicking on “Help! I have forgotten my password” link.

6.3.4 Whenever a person uses the Services, or performs any other act, with your password or through your account, we will treat this as if it was done by you and with your approval.

6.3.5 You must take all reasonable and appropriate measures not to share, display in public, or make your password and fund details available to any person who is not authorised to access your account.

6.3.6 You must notify us immediately by sending us an email at mobile@verso.co.za if you suspect that another person has obtained unauthorised access to your account, or password, or if you are aware of any unauthorized use of your account or password.

6.3.7 You accept that we cannot protect you if you do not keep your password secret or if someone obtains unauthorised access to your account.

6.3.8 As far as the law allows, we will not be responsible for any loss or damage which you may suffer if any other person uses your password or accesses your account or the Services using your account, without your approval and consent.

7. THE SERVICES

7.1 When you log into your account on the INTOUCH Application, you will be able to:

7.1.1 view your personal information;

7.1.2 view and edit your contact details (Postal);

7.1.3 view your fund values;

7.1.4 add and/or delete beneficiaries and/or nominees;

7.1.5 view mini statements;

7.1.6 receive notifications related to your fund,(collectively, the "Services").

8. GRANT AND SCOPE OF LICENCE TO USE THE INTOUCH APPLICATION

8.1 Licence

8.1.1 We grant you a non-transferable, non-exclusive, non-sub licensable revocable license to download, install and use the INTOUCH Application on the Devices subject to these Terms and the AppStore Rules.

8.1.2 The licence to use the INTOUCH Application is for your personal and non-commercial use only.

8.2 Updates and Upgrades

8.2.1 We may make Updates and Upgrades to the INTOUCH Application available from time to time, free of charge.

8.2.2 You will be required to download and install the Updates and Upgrades from the AppStore in order to continue to use the INTOUCH Application.

8.2.3 Depending on the nature of the Update or Upgrade, you may not be able the use the INTOUCH Application until you have downloaded the latest version of the INTOUCH Application.

8.2.4 The Updates and Upgrades will be subject to the same terms and conditions as contained in these Terms, unless we specify otherwise.

8.3 Licence Restrictions

8.4 Except as expressly set out in these Terms or as permitted by law, you agree:

8.4.1 not to copy the INTOUCH Application except where such copying is incidental to normal use of the INTOUCH Application, or where it is necessary for the purpose of back-up or operational security;

8.4.2 not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the INTOUCH Application;

8.4.3 not to make alterations to, or modifications of, the whole or any part of the INTOUCH Application, or permit the INTOUCH Application or any part of it to be combined with or become incorporated in, any other programs;

8.4.4 not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the INTOUCH Application, Technology forming part of the INTOUCH Application or attempt to do any such thing;

8.4.5 to keep all copies of the INTOUCH Application secure and to maintain accurate and up-to-date records of the number and locations of all copies of the INTOUCH Application;

8.4.6 to provide or otherwise make available the INTOUCH Application, in whole or in part (including any object code) in any form to any person without prior written consent from us;

8.4.7 to comply with all technology control or export laws a regulations that apply to the technology used or supported by the INTOUCH Application, (the "Licence Restrictions").

8.5 If you modify or attempt to modify your Device in any way or use software that is designed to modify your Device, override, or disable any security features on your Device or its operating system, you acknowledge that you do so at your own risk. There are security features included in the INTOUCH Application which are designed to operate with the Device according to the manufacturer's specifications. Modifying the Device or its operating system may also result in the INTOUCH Application not working at all.

8.6 Acceptable Use Restrictions

8.6.1 You may not:

8.6.2 use the INTOUCH Application in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with the Terms, or act fraudulently or maliciously, for example, by hacking into or inserting Destructive Code into the INTOUCH Application or any operating system;

8.6.3 infringe our Intellectual Property Rights or those of any third party in relation to your use of the INTOUCH Application;

8.6.4 transmit any Material that is defamatory, offensive or otherwise objectionable in relation to your use of the INTOUCH Application;

8.6.5 introduce any Destructive Code into the Technology used by us or any other person, including in the INTOUCH Application;

8.6.6 use the INTOUCH Application in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and 8.6.7 collect or harvest any information or data for attempt to decipher any transmissions from the servers or systems which run the INTOUCH Application.

9. INTELLECTUAL PROPERTY RIGHTS

9.1 You acknowledge that:

9.1.1 all Intellectual Property Rights in the INTOUCH Application, the Technology and any trademarks and content used and/or displayed in connection with the INTOUCH Application and/or the Services anywhere in the world belong to us or our licensors;

9.1.2 all rights in the INTOUCH Application are licensed (not sold) to you, and that you have no rights in, or to, the INTOUCH Application or the Technology other than the right to use each of them in accordance with these Terms.

9.2 You acknowledge that you have no right to have access to the INTOUCH Application in source-code form.

10. COLLECTION OF DATA

10.1 Technical and location data

10.1.1 By using the INTOUCH Application or any of the Services, you consent to us collecting and using technical information about the Devices and related software, hardware and peripherals for the Services that are internet-based or wireless to improve our products and to provide any Services to you.

10.1.2 Certain Services will make use of location data sent to us from the Devices. You can turn off this functionality at any time by turning off the location services settings for the INTOUCH Application on the Device. If you use these Services, you consent to us and our affiliates' and licensees' transmission, collection, maintenance, processing and use of your location data and queries to provide and improve location-based products and services. You may withdraw this consent at any time by turning off the location services settings on your Device.

10.2 Third party sites

10.2.1 The INTOUCH Application may contain links to other independent third-party websites ("Third Party Sites"). Third Party Sites are not under our control, and we are not responsible for and do not endorse their content or their privacy policies. You will need to make your own independent judgment regarding your interaction with any Third Party Sites, including the purchase and use of any products or services accessible through them.

11. PRIVACY POLICY

11.1 We recognize the importance of protecting your privacy in respect of personal information collected by us when you use the INTOUCH Application.

11.2 By agreeing to these Terms you agree to the provisions set out in this Privacy Policy and you consent to us collecting and using your personal information for the purposes set out in this Privacy Policy. If you do not agree to the Privacy Policy please do not continue to use the INTOUCH Application.

11.3 Should you decide to make use of the INTOUCH Application and the Services, the types of personal information that we may collect from you includes information necessary for our legitimate business interests. This may include (amongst other things) the following:

11.3.1 your name and surname;

11.3.2 your email address;

11.3.3 mobile phone number; and

11.3.4 location

11.3.5 Device ID

11.3.6 Cell phone number

11.4 We may collect your personal information in several ways, including when register a member account, make use of the Services, browse the INTOUCH Application or we carry out demographic research. The supply of your personal information is voluntary, however you acknowledge that we cannot make the Services available to you on the INTOUCH Application if you do not wish to supply such personal information.

11.5 You agree to provide accurate, truthful and current information, and not to impersonate or misrepresent any person or entity or falsely state or otherwise misrepresent your affiliation with anyone or anything. Failure to adhere to this requirement will entitle Verso, inter alia, to terminate your use of the INTOUCH Application.

11.6 The purposes for which we will use your personal information are as follows: to contact you regarding current or new products or services offered by us, to inform you of new features, to notify you of changes to your fund details, to notify or verify you of any amounts payable for security, administrative or legal purposes, for helping us in any future dealings with you and generally to improve your experience on the INTOUCH Application.

11.7 Should you no longer wish to receive marketing communications from us, you may send us an email with the words "unsubscribe from communications" in the subject field and include in the body of the message [Your Registered user name] [Registered Email Address]" to mobile@verso.co.za. Your cancellation will be effected on the first business day of the following month after you have notified us of your cancellation.

11.8 Verso will not use your personal information for any purpose (other than as stated above) without your express consent. We will not use or disclose your personal information to third parties without your consent, unless the use or disclosure is -

11.8.1 required in order to comply with applicable law, order of court or legal process served on Verso; and/or

11.8.2 disclosure is necessary to protect and defend the rights or property of Verso.

11.8.3 We will be entitled to disclose your personal information to those of our affiliates, agents, advisors, employees and/or third party service providers and suppliers (including payment providers) who assist us to interact with you via the INTOUCH Application, mobile communications and/or email, and thus need to know your personal information in order to assist us to communicate with you properly and efficiently. We will ensure that all such employees and/or third party service providers having access to your personal information are bound by appropriate and legally binding confidentiality and non-use obligations in relation to your personal information. We will also share your personal information with government or law enforcement agencies where the law requires that we disclose your personal information, and where we have reason to believe that a disclosure of your personal information is necessary to identify, contact or bring legal action against a party who may be in breach of the Terms.

11.9 We will:

11.9.1 treat your personal information as strictly confidential;

11.9.2 take appropriate technical and organisational measures to ensure that your personal information is kept secure and is protected against unauthorised or unlawful processing, accidental loss, destruction or damage, alteration, disclosure or access;

11.9.3 promptly notify you if we become aware of any unauthorised use, disclosure or processing of your personal information;

11.9.4 provide you with reasonable evidence of our compliance with our obligations under this policy on reasonable notice and request; and

11.9.5 upon your request, promptly return or destroy any and all of your personal information in our possession or control.

11.10 We will not retain your personal information longer than the period for which it was originally needed, unless we are required by law to do so, or you consent to us retaining such information for a longer period.

11.11 You may request access to the personal information which we collect from you, including to rectify the information, or object to its processing by sending an email to us at mobile@verso.co.za. You also have the right to lodge a complaint with the information regulator if you think we are in breach of any applicable data protection legislation.

11.12 We may, from time to time, transfer, store or host your personal information on servers outside of South Africa. We will at all times ensure that appropriate security safeguards are in place to secure and protect such personal information.

11.13 If this Privacy Policy or any provision in this Privacy Policy is regulated by or subject to the Protection of Personal Information Act ("POPI") or other data protection legislation it is not intended that any provision of this Privacy Policy contravenes any provision of POPI or other data protection legislation. Therefore all provisions of this Privacy Policy must be treated as being qualified, to the extent necessary, to ensure that the provisions of POPI or other data protection legislation are complied with.

12. DISCLAIMERS AND LIMITATION OF LIABILITY

12.1 Disclaimers

12.1.1 As far as the law allows, we do not warrant the accuracy of the information provided to you as part of the Services as correct or up to date. It is your responsibility to verify the accuracy of the information provided you through the Services. We will not be responsible for any loss suffered by you based on your reliance of the information provided via the INTOUCH Application. You acknowledge and consent that you use the INTOUCH Application and the Services entirely at your own risk.

12.1.2 As far as the law allows, the INTOUCH Application is provided to you on an "as is" and "as available" basis and without any representation or warranty whatsoever, whether express, implied or statutory (including any implied warranties of reliability, fitness for any particular purpose, or exclusion of errors or inaccuracies).

12.1.3 As far as the law allows, we make no representations and give no warranties regarding (i) the operation, integrity, compatibility, availability or functionality of the INTOUCH Application, or (ii) that the INTOUCH Application will:

12.1.3.1 be available or accessible at all times;

12.1.3.2 be uninterrupted, timely, error-free or secure or free from Destructive Code; or

12.1.3.3 meet your individual requirements.

12.1.4 You assume all responsibility and risk for the installation, use and results obtained from the INTOUCH Application.

12.2 Limitation of liability

12.2.1 You acknowledge and consent that you use the INTOUCH Application and the Services entirely at your own risk and that neither we nor our affiliates, officers, directors, employees, servants, agents or contractors or other persons for whom in law may be liable to, will not, under any circumstances, be liable to you for any loss or damages (including, but not limited to, consequential, direct, indirect, special, punitive or incidental damages and damages or losses of any other kind).

12.2.2 Without limiting the generality of the aforesaid, you acknowledge and consent that neither we nor our affiliates, officers, directors, employees, servants, agents or contractors or other persons for whom in law may be liable to, will not, under any circumstances, be liable to you for any loss or damages (including, but not limited to, consequential, direct, indirect, special, punitive or incidental damages and damages or losses of any other kind) or any other action arising from:

12.2.2.1 any defect, fault, malfunction and/or delay in your hardware and/or software;

12.2.2.2 any defect, failure, fault and/or delay in connectivity to the Internet;

12.2.2.3 to the extent allowed by law, any defect, failure, fault, delay or unavailability of the INTOUCH Application and/or Services for any reason whatsoever;

12.2.2.4 viruses and/or spam that may infect your Device;

12.2.2.5 any failure on the part of a merchant to deliver the goods and/or services you purchased using the INTOUCH Application and/or Services;

12.2.2.6 the INTOUCH Application, the Services, our systems and/or your information held by us being compromised in any way; or

12.2.2.7 a third party gaining access to and using your information held by us.

13. TERMINATION

13.1 We may terminate our agreement with you immediately by written notice to you:

13.1.1 if you commit a material or persistent breach of these Terms which

you fail to remedy (if remediable) within 14 (fourteen) days after the service of written notice requiring you to do so; or

13.1.2 if you breach any of the licence restrictions.

13.2 On termination for any reason:

13.2.1 all rights granted to you under these Terms shall cease;

13.2.2 you must immediately cease all activities authorised by these Terms;

13.2.3 you must immediately delete or remove the INTOUCH Application from all Devices, and immediately destroy all copies of the INTOUCH Application then in your possession, custody or control and certify to us that you have done so;

13.2.4 you agree that we may remotely access the Devices and remove the INTOUCH Application from all of the Devices and cease providing you with access to the Services.

14. COMMUNICATIONS

14.1 If you wish to contact us in writing, or if any term in these Terms requires you to give us notice in writing, you can send such communication by e-mail to mobile@verso.co.za. We will confirm receipt of your communication in writing, usually by e-mail.

14.2 If we have to contact you or give you notice in writing, we will do so by e-mail or by post to the address you provide to us when registering for the Services. 15. IMPORTANT TERMS

15.1 We may transfer our rights and obligations under these Terms to another entity, but this will not affect your rights or our obligations under these Terms.

15.2 While we will use our best efforts to ensure that the INTOUCH Application operates as it was designed by us, we cannot warrant that the Services are compatible with, or will operate with your Device or any software/hardware that you have on your Device.

15.3 To protect your personal and confidential information it is your responsibility to protect your Device from access by other persons. You must immediately contact us if your Device is lost or stolen so that we can change your access codes (usernames and passwords) so that unauthorised persons cannot access the Services.

15.4 If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.

15.5 Each of the clauses of these Terms operates separately. If any court or competent authority decides that any of them are unlawful or unenforceable, the remaining conditions will remain in full force and effect.

15.6 These Terms, its subject matter and its formation, are governed by the laws of the Republic of South Africa.

15.7 If these Terms, or Services provided and/or made available on the INTOUCH Application is regulated by or subject to the Consumer Protection Act, the ECT Act or other laws it is not intended that any provision of these

Terms contravene any provision of the Consumer Protection Act, the ECT Act or other laws. Therefore all provisions of these Terms must be treated as being qualified, to the extent necessary, to ensure that the provisions of the Consumer Protection Act, the ECT Act or other laws are complied with. 15.8 No provision of these Terms:

15.8.1 does or purports to limit or exempt us from any liability (including, without limitation, for any loss directly or indirectly attributable to our gross negligence or wilful default or that of any other person acting for or controlled by us) to the extent that the law does not allow such a limitation or exemption;

15.8.2 requires you to assume risk or liability for the kind of liability or loss, to the extent that the law does not allow such an assumption of risk or liability; or

15.8.3 limits or excludes any warranties or obligations which are implied into this Agreement by the Consumer Protection Act (to the extent applicable), the ECT Act (to the extent applicable), or other applicable laws or which we give under the Consumer Protection Act (to the extent applicable), the ECT Act (to the extent applicable), or other applicable laws, to the extent that the law does not allow them to be limited or excluded.

16. DEFINITIONS AND INTERPRETATION

16.1 In these Terms, unless the context indicates a contrary intention, the following words and expressions bear the meanings assigned to them and cognate expressions bear corresponding meanings:

16.1.1 "Consumer Protection Act" means the Consumer Protection Act 68 of 2008, as may be amended from time to time

16.1.2 "Destructive Code" means any "viruses", "trojan horses", computer code, malware, instructions, devices or other materials designed to disrupt, disable, harm or

otherwise impede in any manner the operation of any Device, Technology, services, data, storage media, programs, equipment or communications, or otherwise interfere with operations thereof;

16.1.3 "Device" means a mobile device which is capable of connecting to the Internet, and shall include mobile phones, tablets and other devices;

16.1.4 "ECT Act" means the Electronic Communications and Transactions Act 25 of 2002, as may be amended from time to time;

16.1.5 "Intellectual Property Rights" means all intellectual property rights of whatsoever nature anywhere in the world, including (without limitation) copyright and related rights, patents, patent rights, designs, design rights,

invention rights, database rights, know-how, confidential information, trade secrets, trade marks, trade names and service marks, goodwill and the right to sue for unfair competition, and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world, and including all rights to recover damages for the breach, infringement, or misappropriation of any such intellectual property rights;

16.1.6 "Internet" means the global electronic communications network providing a variety of information and communication facilities, consisting of interconnected networks using standard communication protocols;

16.1.7 "Services" means the those pension fund administration services

provided by Vreso through the INTOUCH Application, including as set out in clause 7;

16.1.8 "Technology" means any software, systems, applications, platforms, devices, technology and the like, of any kind and in whatever form;

16.1.9 "Updates" means corrections of inherent errors in the INTOUCH Application and any changes or improvements made to the INTOUCH Application which result in the addition of functions or features not present in the INTOUCH Application at the date of conclusion of these Terms;

16.1.10 "Upgrades" means new versions of the INTOUCH Application, or portions thereof which incorporate new or enhanced functionality which result in major change in the INTOUCH Application;

16.1.11 "Verso" means Verso Financial Services Proprietary Limited, registration number 2000/003590/07, a limited liability company duly incorporated in the Republic of South Africa with its place of business at Belmont Office Park, Twist Street, Bellville, Cape Town, South Africa, 7530;

16.2 References to the singular includes the plural and vice versa;

16.3 Clause headings are for convenience and not to be used in interpreting these terms and conditions.

16.4 Words in any particular gender include the other genders (male, female and neutral). Reference to a neutral gender (for example 'they' or 'it') include all genders.

16.5 The word 'including' or 'include' or 'includes' must not be interpreted as limited to the list following the word or excluding other items from a list following the word. The word:

16.5.1 'including' means 'including but not limited to';

16.5.2 'include' means 'include but is not limited to'; and

16.5.3 'includes' means 'includes but is not limited to'

16.6 Where any number of days is given, those days are counted to exclude the first day but include the last day.


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