1. INTRODUCTION

1. 1. The Site www.xtexchange.com is owned and operated by Arwena Ltd (the “Company”), an international business company incorporated under Republic of Marshall Islands laws and registered with the Republic of Marshall Islands Financial Services Authority under registration number 120102.

   2. The present Terms and Conditions (hereby referred to as “the RP Terms”) govern all actions in respect of the Rebate Plan Offer, (hereby referred to as “RP Plan”), whereby Eligible Clients of the Company operating under the brand name of XTE (www. xtexchange.com) will be rewarded in accordance the Terms set out in this RB Plan.

1. 3. These Terms should be carefully read in conjunction with the Services Agreement of the Company prior to agreeing to the RB Plan. By accepting these Terms, you unconditionally acknowledge that you have read, understood and intend to be legally bound by these Terms as well as the general terms and conditions that apply to your trading account as those can be found on the Company’s Site. 

1. 4. Words and Terms not specifically defined in this RB Plan and in the attached Glossary, shall have the same meaning as in the Services Agreement. The Glossary can be provided to the Member on request.

2. ELIGIBILITY CRITERIA

1. 1. The RP Plan is available only to the following Clients:

• Clients who have accepted the Service Agreement of the Company, respectively the Terms and Conditions of business;

• Clients who have successfully completed the onboarding procedures of the Company and provided all required documentation and/or information

• Clients who have deposited in their account with the Company at least 0.1 BTC.

(Clients who collectively satisfy all of the above criteria will be referred to as “Eligible Clients”)

1. 2. The RP Plan is only available on the XTE Platform.

3. THE PLAN

1. 1. Eligible Clients upon accepting these Terms will be redirected to the Site www.xtexchange.com where they will login with their designated credentials.

1. 2. You can then access the XTE RP section on the XTE Platform in order to send an email and/or electronic invitation to any individual from your personal contact list.

1. 3. Invitations can be forwarded by email exclusively from the XTE Platform.

1. 4. Individuals introduced by You, who have successfully become Clients of the Company will appear in the XTE RP section of your account.

1. 5. From your XTE RP section you will be able to access information on all of Clients and/or Members, introduced to the Company by You in accordance with the Terms, including generated eligible spread in the period and your Downline’s total generated eligible spread.

4. THE REMUNERATION

5. 1. The purpose of the RB Plan is that the Company will offer to eligible Clients within the RB Plan (the “Member”) the opportunity to receive commissions from the profits of the Company calculated on the basis of a percentage on the volume of eligible spreads generated by the Clients introduced to the Company by the said Member, but not the Members own eligible spread. It is defined as Eligible Spread the spread generated from an outright (not hedged) interchange position closed after more than 5 minutes from the opening time.

5. 2. Depending on the Level, Members will receive the following commissions for each period (as defined in the Glossary a period coincides with a Calendar month): Level 1 and 2 Bonuses 

5. 3. Commissions will be credited directly into the Member’s Network account with the Company under the Section Commission Balance every Monday. Further on the Commission may be used for further dealing and/or withdrawal subject to meeting the Commission Release Criteria, as per article 4.3.

5. 4. The Member can use the Commissions, by having the Commissions added to his account Balance, subject to an interchange orders executed volume (in and out) of USD 1,000.00 for each USD 1.00 of commission released (herein the “Commission Release Criteria”), and further to either withdraw the funds in accordance with Paragraph 5.2. from below or to send further interchange orders for execution, in which case the amount invested, and any resulting profits or losses will be credited or debited to the Member’s Account Balance.

5. WITHDRAWALS

6. 1. You can see your available balance for withdrawal in the Section “Bonus” showed in the XTE electronic system, which will be credited to the Member’s account in accordance with Paragraph 4.4. of these Terms.

6. 2. Withdrawals will be executed in accordance with the Company’s Terms and Conditions and in accordance with the Bonus and Award Policy.

6. OBLIGATIONS UNDER THE RB PLAN

7. 1. The Members are obliged to comply with the following:

1. They will contact potential clients or existing Members to invite them to join the Platform exclusively by email through the XTE Platform, in the Section XTE RP of their account.

2. When contacting potential clients or existing Members, they will only use the promotional material that can be found under their Section XTE RP, in an “as is” form with no alterations whatsoever.

3. They will only contact potential clients located in any of the accepted countries.

4. To submit a report at www.xtexchange.com (“Report a Scam”), in case a Member identifies any other Member acting in a way contrary to this Agreement. 

7. 2. Any one of the following actions by the Members constitutes an Event of Default which will result in an immediate termination of the Members’ XTE account:

1. Member is using inappropriate means to attract new members/clients under the RB Plan, including but not limited to operating of a call center facility and performance of cold calling practices.

2. Member is providing to new members/clients any form of warranty and/or representation that is untrue, not clear or misleading;

3. Member is providing to new members/clients any advice as to trading activity;

4. Member offers makes any kind of recommendation or offers any kind of investment and/or ancillary service as this is defined in the MiFID and the Law, or appears to new members/clients as legal representative of the Company.

5. A well-founded complaint is received by the Company from a Client introduced by the Member or from any other competent authority, against the said Member, in relation to any of the points of this Paragraph 6.2. 

6. Member engages in Stacking practices, regarding the placement of the accounts in the genealogy of the RB Plan (Stacking in defined in the Glossary).Member offers technical support, education or market education on behalf of XTE

Member is actively advertising XTE as a brand or its services, outside the scope of this Agreement which is restricted to the invitation sent through the XTE RP Section.

7. ASSESSMENT AND MONITORING

8. 1. You agree and understand that the Company will be monitoring and recording all of the actions performed by You under the RB Plan and all such actions will be assessed by the Company on a weekly basis in order to:

1. Calculate your commissions and bonuses

2. Establish whether an Event of Default occurs

3. Establish whether You consistently comply with your obligations under this RB Plan.

4. Establish if You qualify for a Demotion Policy

5. Establish if You qualify for a Cancellation Policy

6. Establish if You qualify for a Reinstatement Policy

8. 2.  You can access your status and know your assessment on the above at all times in the XTE RP Section of your account. 

8. TERMINATION

9. 1. You can choose to terminate your participation at the RB Plan at any time, by giving a five (5) business days’ notice. The termination of the participation in the RB Plan will not affect the existence of your XTE Account.

9. 2. Further to the provisions of Paragraph 6.2. above and the occurrence of an Event of Default, your XTE account will be immediately and without prior Written Notice terminated, and the Company will have the right to perform any or all of the actions of Paragraph 8.1. above. 

9. 3. The termination following the occurrence of an Event of Default will result in the permanent banning of the Member from the RB Plan.

9. 4. The termination of the XTE account, for whatever reason, will result under certain conditions for the said Member’s downline and clients to be compressed to the next upline Member who is in good standing.

9. MISCELLANEOUS 

1. 1. AMENDMENTS: These Terms may be amended by the Company at any time by posting a new version on its website.

1. 2. TRANSFERABILITY: The rights and obligations of the Member under these Terms are not transferable. Rights and obligations of the Member under these Terms are only transferrable to the legal heirs of a deceased Member, subject to the Company being provided with an official proof of the legal rights of the heir(s) after finalization of any administrative proceedings from the competent jurisdictions, following the Member’s death. 

1. 3. All Terms and Conditions of this RP Plan are essential and binding. IT IS REMINDED THAT THESE TERMS SHOULD BE READ IN CONJUCTION WITH THE COMPANY’S SERVICES AGREEMENT AND WHERE NO SPECIFIC PROVISION IS MADE UNDER THESE TERMS THE PROVISIONS OF THE SERVICES AGREEMENT WILL APPLY MUTATIS MUTANDIS.

1. 4. All Terms of this RP Plan shall be governed by the laws and regulations of the Republic of Marshall Islands.

1. 5. Any disputes arising out or in connection with the present RP Offer shall be exclusively settled by the Courts of the Republic of Marshall Islands.

Level Bonus