(Applicable to referred customers)

I. PARTICIPANTS:

Referred Customers: all customers of Pinetree (whether they have already opened or have not yet opened a securities trading account at Pinetree) who have the need and meet the legal requirements to participate in the stock trading market.

II. CUSTOMER DEVELOPMENT ACTIVITIES

1. By registering to participate in this Policy, Customer agrees to receive the followings supports:

a. To be introduced and provided fully by the Partner the following information:

• Pinetree’s information, including address, telephone, website, brand name, prestige, etc.; 

• Information that Pinetree is having/providing products, services and policies from time to time.

b. Customer’s feedback about products, services and/or policies of Pinetree will be heard, collected by Partner to provide Pinetree.

c. To be supported by the Partner to inform Pinetree and request Pinetree to deal with any claims, arising matters in relation to Customers and/or transactions of Customers at Pinetree.

d. To be provided by the Partner with information, explanation (upon Customer’s request) on the rights, benefits, and expenses arose when being introduced to trade at Pinetree according to this Policy.

2. When participating in this Policy, the Partner will be provided with an ID code or a link customized to that partner so that the partner can provide to Customers to record the introduction, supports by Partner.

III. REQUIREMENTS ON THE RECOGNITION OF CUSTOMERS INTRODUCED BY PARTNERS

1. The Customer will no longer be recognized as being introduced and supported by the Partner in any of the following cases:

a. The Partner or the Customer requests Pinetree to terminate the supporting activities between the Partner and the Customer by the method provided or accepted by Pinetree from time to time.

b. The Customer closes the Customer’s securities account at Pinetree or transfers all money and securities deposited at Pinetree to another depository member.

c. The Partner breaches its obligations or commitments under the Customer Development Cooperation Contract and/or other relevant agreements.

d. The Partner has been recognized as the Customer’s introducer, but Pinetree has its reasonable evidence to determine that the Customer is not aware of such referral and has not been provided with information about Pinetree’s products and services by the Partner.

2. The Customer will be recognized as being partially stopped to be introduced and supported by the Partner when the Customer requests to partially suspend Customer support and development activities for one or more groups of products/services, including (i) Trading of Stocks/Listed fund certificates, ETF/Covered Warrants (“Stock/ETF/CW Trading”), (ii) Margin lending, and (iii) Index Futures contract derivatives trading. Customers may re-register for one or more groups of products/services after cancellation. The registration for suspension/re-registration of the services mentioned above is conducted in the manner provided or approved by Pinetree from time to time.

3. Changing Partner: Customers can only be supported by one Partner at a time. Customers have the right to request a change to another Partner after registering to terminate the Customer development activities of the current Partner. The cancellation/change of Partner is carried out according to the procedures and guidelines provided by Pinetree from time to time.

4. When the circumstances stated in Sections 1, 2 of this section arise, the Customer’s participation in this Policy will be partially or fully canceled according to each case, and consequently, the Customer’s account will be subject to the same fee schedule and/or interest rate as regular Customers of Pinetree for the corresponding group of canceled products/services.

IV. THE FEE SCHEME

Throughout the time participating in this policy, the Customer irrevocably agrees that relevant transactions of Customer shall be automatically applied the trading fee and/or interest rate specifically applicable to the Customer participating in the Policy which is announced or notified by Pinetree from time to time in any method in accordance with the securities trading account opening contract entered into between the Customer and Pinetree and the law.

V. GENERAL PROVISIONS

When Customer participates in this Policy, Customer’s registrations, terms and conditions related to this Policy are considered an integral part of the securities trading account opening contract entered into between the Customer and Pinetree.

Pinetree has the full right to actively amend, supplement and apply the Policy at any time by announcing or notifying Customer in any method in accordance with the securities trading account opening contract entered into between Customer and Pinetree without any consent or confirmation of Customer. The Customer confirms that by continuing using products and services provided by Pinetree without requesting to stop participating in the Policy, the Customer is deemed as unconditionally accept such amendments and/or supplements of Pinetree.

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CUSTOMER DEVELOPMENT POLICY

I. PARTICIPANTS:

• Partners: Customers who already opened securities trading accounts at Pinetree and want to introduce other customers to Pinetree’s products and services, agree to participate in the policy by signing the Cooperation agreement on customer acquisition (mentioned as “Partner” in this Policy). Partners are not an employee of Pinetree and/or relatives and/or related persons of Pinetree’s employees (including biological father, biological mother, father-in-law, mother-in-law, wife, husband, biological children, adopted children, siblings of Pinetree employees or organizations or businesses where Pinetree employees have labor relations or holding the position of enterprise manager according to the provisions of the Enterprise Law).

• Referred Customers: all customers of Pinetree (whether they have already opened or have not yet opened a securities trading account at Pinetree) who have the need and meet the legal requirements to participate in the stock trading market.

II. CUSTOMER DEVELOPMENT ACTIVITIES

1. When participating in this program, a Partner will implement the following activities to recommend and develop Customers at Pinetree, and is entitled to a remuneration based on his introduced Customers according to this Policy:

a. To introduce and provide domestic Customers and/or foreign Customers fully the following information:

• Pinetree’s information, including address, telephone, website, brand name, prestige, etc.; 

• Information about products, services and policies that Pinetree is having/providing from time to time.

b. To collect and provide Pinetree with any feedback of Customers about products, services and/or policies of Pinetree.

c. To support and cooperate with Pinetree upon Pinetree’s requirements, if any, to deal with any matters arising concerning Customers and/or transactions of Customers.

d. To clarify for Customers (upon request) the rights, benefits, and expenses arose when introducing the Customer to trade at Pinetree according to this Policy.

e. To do other activities allowed under the Customer Development Cooperation Contract.

2. When participating in this policy, the Partner will be provided a referral ID code or a link attached to that Partner so that the Partner can provide to Customers to record his introduction as required in Section III below.

III. REQUIREMENTS ON THE RECOGNITION OF CUSTOMERS INTRODUCED BY PARTNERS

1. Conditions of a successful referral Customer

A Customer is considered successfully referred and supported by the Partner if satisfying the below conditions (mentioned as “Customer” in this Policy):

• The Customer successfully opened and activated a securities trading account at Pinetree (regardless of whether this occurred before or after being recognized as a referred Customer by a Partner); and
• The Customer has signed and sent to Pinetree the confirmation of being referred and supported by the Partner using Pinetree’s form and Pinetree already confirmed of receiving such information; or
• The Customer provides Pinetree with the Partner’s Referral ID code and/or confirms the Partner’s information through the electronic method provided by Pinetree from time to time and is duly recorded in Pinetree’s system.

Throughout the period when the Customer is recorded as being referred by the Partner, as recognized by Pinetree’s system, the Customer’s account will automatically be subject to the transaction fee and interest rate policies outlined in Section IV below, as stipulated in this Policy.

2. Complete suspension of Customer development activities: The Customer will cease to be considered as being supported and developed by the Partner for all related services when one of the following circumstances arises:

a. The Partner or the Customer requests Pinetree to terminate the supporting activities between the Partner and the Customer by the method provided or accepted by Pinetree from time to time.

b. The Customer closes the securities account at Pinetree or transfers all money and securities deposited at Pinetree to another depository member.

c. The Partner breaches its obligations or commitments under the Customer Development Cooperation Contract and/or other relevant agreements.

d. The Partner has been recognized as the Customer’s introducer, but Pinetree has reasonable evidence to determine that the Customer is not aware of such a referral and has not been provided with information about Pinetree’s products and services from the Partner.

3. Partial suspension of Customer development activities: Customers may request to partially suspend Customer support and development activities for one or more groups of products/services, including (i) Trading of Stocks/Listed fund certificates, ETF/Covered Warrants (“Stock/ETF/CW Trading”), (ii) Margin lending, and (iii) Index Futures contract derivatives trading. Customers may re-register for one or more groups of products/services after cancellation. The registration for suspension/re-registration of the services mentioned above is conducted in the manner provided or approved by Pinetree from time to time.

4. Changing Partner: Customers can only be supported by one Partner at a time. Customers have the right to request a change to another Partner after registering to terminate the Customer development activities of the current Partner. The cancellation/change of Partner is carried out according to the procedures and guidelines provided by Pinetree from time to time.

5. The Partner is considered to terminate/relinquish the participation in this Policy when one of the following cases arises:

a. The Partner closes the securities account at Pinetree or transfers all money and securities deposited at Pinetree to another depository member.

b. The Customer Development Cooperation Contract between the Partner and Pinetree is terminated.

c. When the circumstances stated in Sections 2, 3, and 5 of this section arise, the Customer’s participation in this Policy will be partially or fully canceled according to each case, consequently, the Customer’s account will be subject to the same fee schedule and/or interest rate as regular Customers of Pinetree for the corresponding group of canceled products/services.

IV. THE FEE SCHEME AND REMUNERATION

1. The trading fee and margin interest rates applied to the referred Customers:

Througout the time participating in this policy, the Customer will be applied the below trading fee and interest rate: Biểu phí

* Other fees and interest rates not listed above will be applied according to the policies, fee schedules, and interest rates applicable to regular Customers (not participating in the Policy) as announced by Pinetree from time to time. The above fee schedule does not apply to the PineFolio sub-accounts and/or any other special sub-accounts/ products/ services of Pinetree (if any) as determined by the General Director from time to time.

Service fees are inclusive of VAT (but exclusive of other taxes, if any, as prescribed by the State competent authorities from time to time).

Unless otherwise decided by Pinetree, the above-mentioned fee rate will not be changed within 30 days from the date of the previous fee adjustment (if any).

In addition to the above service fees, Pinetree may apply other fee policies for high-networth Customers (‘deal’ partners’ Customers) in accordance with registration and/or agreement from time to time.

2. Remuneration:

a. During participation in the Policy (starting from the effective date of the Customer Development Cooperation Contract), the Partner is entitled to Remuneration related to Customers recognized as being referred or supported by the Partner when those Customers successfully execute transactions in the following product/service groups: (i) Stock/ETF/CW Trading, (ii) Margin lending, and/or (iii) Index Futures contract derivatives trading, as recorded by Pinetree’s system and in accordance with Pinetree’s regulations from time to time.

Remuneration is calculated according to the following formula and is determined for each Remuneration Calculation Period, starting from (and including) the first working day of the month to (and including) the last working day of the same month. This may be adjusted in accordance with Pinetree’s policy from time to time.

Stocks/ETF/CW trading

Net transaction fee of Stocks/ETF/CW trading = The total transaction fees for Stocks/ETF/CW collected by Pinetree from the Customer according to the fee schedule of this Policy – The corresponding transaction fees for Stocks/ETF/CW of the Customer calculated based on the standard fee schedule for regular Pinetree Customers

Remuneration = Net transaction fee of Stocks/ETF/CW trading * Stocks/ETF/CW trading remuneration ratio

In which:

• Net transaction fees of Stocks/ETF/CW trading are used to determine the total fees, excluding transactions on the PineFolio (PF) sub-account and securities forced selling transactions.

• The Stock/ETF/CW remuneration ratio is determined in one of the following two cases:

Total net Stocks/ETF/CW trading fee/Remuneration calculation period	Stocks/ETF/CW remuneration ratio (*)
< VND 15 million	60%
≥ VND 15 million	70%

Margin lending transaction

Remuneration = (The total interest Pinetree has collected from the Customer’s margin lending transactions at the interest rate according to the fee schedule of this Policy – The total interest calculated on the Customer’s corresponding margin lending transactions at the interest rate according to the fee schedule/rate applied by Pinetree for regular Customers not participating in the Program)*Margin Lending remuneration ratio

In which:

• The margin lending transactions used to calculate the above-mentioned Remuneration are loans that meet the following conditions: (i) the entire principal and interest of the loan have been fully repaid by the Customer to Pinetree, except for loans with principal and interest recovered due to the Customer’s collateral being liquidated in accordance with the relevant agreement between the Customer and Pinetree, and (ii) the loan was newly generated during the period when the Customer was recorded as being referred/supported by the Partner.
• The total interest Pinetree has collected from the Customer’s margin lending transactions at the interest rate according to the fee schedule of this Policy is the timely paid interest amount (not applicable to overdue interest, if any) of the loan that meets the conditions stated above and has been paid by the Customer during the Remuneration calculation period and while the Customer is recorded as being referred by the Partner. This interest rate is calculated according to the fee schedule specified in Section IV.1 of this Policy.
• The Margin Lending remuneration ratio is determined in one of the following two cases:

Total paid margin interest/ Remuneration calculation period	Margin lending remuneration ratio (*)
≤ 15 million VND	60%
>15 million VND	70%

Index futures contract derivatives trading

Remuneration = Total Index futures contract trading fee paid by Customers (excluding exchange and VSDC fees) in the Remuneration calculation period * Index futures contract remuneration ratio

In which:

• The total transaction fees mentioned above do not include fees for securities liquidation transactions;
• The Index futures contract remuneration ratio is determined in one of the following two cases:

Total Index futures trading contracts/ Remuneration calculation period	Index futures contract remuneration ratio (*)
< 1500 contracts	60%
≥ 1500 contracts	70%

b. In case the Partner is an individual, the Remuneration paid to the Partner mentioned above includes personal income tax and will be directly deducted by Pinetree in accordance with the law before payment to the Partner.

c. Reconciliation and Remuneration Payment

• Periodically, at the end of each Remuneration calculation period, Pinetree will calculate and send the generated Remuneration statement to the Partner via the email registered by the Partner as recorded by Pinetree from time to time.

• After the response period for the Remuneration statement as stipulated in the Customer Development Cooperation Contract has expired, if the Partner does not provide feedback or agrees with the statement sent by Pinetree, Pinetree will proceed with the payment of the agreed Remuneration to the Partner within 10 (ten) working days.
• The remuneration payment is made to the Partners’ securities trading account opened at Pinetree or other method following Pinetree’s regulations.