AGREEMENT. between. The Swiss Bank Employees Association (SBPV) and. The Employers' Association of Banks in Switzerland (AGV Banken)

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1 AGREEMENT between The Swiss Bank Employees Association (SBPV) and The Employers' Association of Banks in Switzerland (AGV Banken) The Swiss Bankers Association (SBA) INTRODUCTION The following Agreement is intended to deal with the consequences for employees arising from documents on business activities containing unencrypted personal staff information that have been and will be transferred to the US authorities by Swiss banks as part of tax disputes (hereinafter referred to as "Data Transfers"). The Agreement shall apply to all banks that have transferred or will transfer data. It shall not exclude more favourable individual agreements. It shall be without prejudice to similar situations in international agreements, particularly those governing tax issues. The present Agreement shall cover in particular: Data transfers made as a result of the decision of the Swiss Federal Council of 4 April 2012; Data transfers made under the 2013 programme of the US authorities. This Agreement shall not apply to banks that have already completed their proceedings with the US authorities in the following context by the time this Agreement enters into effect. The Parties note that the data transfers to the USA are being made due to an extraordinary situation that falls outside legal and administrative assistance but are in compliance with procedural requirements and Swiss law. In the interests of the financial centre and those that work in it, the SBPV expressly supports the efforts made by banks and politicians to find a mutually acceptable solution to the tax dispute with the USA

2 I. DUTIES OF BANKS TO AFFECTED EMPLOYEES 1. Duty to provide information and right to receive information The banks shall comply with the recommendations of the Federal Data Protection and Information Commissioner (FDPIC) dated 15 October They shall therefore proceed as follows: The banks shall ensure that in respect of any future data transfer all affected employees are informed in advance of the extent and nature of the documents to be transferred and the period from which they date, in accordance with the principle of transparency enshrined in data protection law. In the case of former employees, the banks shall provide such information where they can do so at proportionate effort and expense. The banks shall simultaneously inform the monitoring committee whenever general information is provided to employees. The banks shall give affected employees a reasonable period to examine and consult the personal data that relates to them. If an affected employee objects to the bank transferring documents containing his/her name, the bank shall weigh up the interests in the specific case. If the bank wishes to transfer the documents without blackening his/her name, it must inform the employee and advise him/her of his/her rights. Where this has not already been done, each bank shall establish a coordination office in respect of data already transferred, where current and former employees can consult and examine all data already transferred that relates to them personally. The coordination office shall be obliged to keep all enquiries confidential. The banks shall inform all employees of the establishment of the coordination office and of how it can be contacted, and notify them about the fund for cases of hardship described in Section I.3 below.

3 2. Duty of care The duty of banks to protect affected employees shall be based on the duty of care they owe as an employer (Article 328 of the Swiss Code of Obligations). In particular, the banks shall undertake to meet the lawyers' costs of employees who undergo criminal prosecution for their professional activity carried out on behalf of the bank in the USA. There shall be no obligation to cover costs in cases of gross personal culpability (serious breaches of internal bank rules and regulations). 3. Cases of hardship To alleviate cases of hardship, a special fund shall be set up for at most three years with capital of CHF 2.5 million provided by the SBA and charged to its members on a basis of allocation yet to be decided. Cases of hardship shall be defined as current or former employees who find themselves in difficult personal, financial or economic circumstances as a result of the data transfers. Entitlement shall not depend on membership of the SBPV. The SBPV shall decide on specific applications for support and distribute the money. A maximum of 10% of the fund may be used for administrative costs. The criteria for entitlement shall be drawn up and approved by the monitoring committee in accordance with Section II Protection against discrimination The banks shall not ask questions in hiring interviews about whether or not an applicant has been personally affected by the data transfers.

4 5. Protection against dismissal The fact that an employee is personally affected by data transfers shall not constitute grounds for dismissal. The assumption shall be that an employee was dismissed for being affected by a data transfer where the employee is able to plausibly demonstrate this. Any employee dismissed shall be entitled to demand justification for the dismissal under Article 335 (2) of the Swiss Code of Obligations. II. IMPLEMENTATION AND MONITORING OF THE AGREEMENT 1. Banks that have transferred data to the US authorities or intend to do so must appoint a contact person (the coordination office) whose name is published internally and externally. 2. The Parties shall establish a monitoring committee consisting of equal numbers of employer and employee representatives to monitor compliance with the Agreement. Representatives of the SBA and AGV Banken shall sit on the committee. The commercial confidentiality of the banks and bank client secrecy must be observed in all cases. The committee shall meet as required, but at least semi-annually. 3. The monitoring committee shall in particular scrutinise cases of hardship in accordance with Section I.3 and ensure that the portion of fund assets available under Section I.2 to meet administrative costs is reasonable. The operating costs of the monitoring committee shall be met by the SBA. 4. The SBA and AGV Banken shall ensure that their members implement and comply with this Agreement correctly and in full.

5 III. Accession to the Agreement and entry into force 1. The Swiss Association of Commercial Employees (Kaufmännischer Verband) and PostFinance may apply to accede to this Agreement at any time. 2. This Agreement shall enter into effect at the same time as the programme of the US authorities enters into effect. In the event that the Swiss Federation does not support the programme of the US authorities, this Agreement shall be rendered null and void.

6 The Employers' Association of Banks in Switzerland Basel, 29 May 2013 Barend Fruithof, Chairman Balz Stückelberger, CEO Swiss Bankers Association Basel, 29 May 2013 Patrick Odier, Chairman Claude-Alain Margelisch, CEO The Swiss Bank Employees Association Berne, 29 May 2013 Peter René Wyder, Chairman Denise Chervet, CEO