Common use of Choice of Exchange and Execution Clause in Contracts

Choice of Exchange and Execution. You understand that BB&T Securities has sole discretion to choose the exchange through which it executes transactions for You. You also understand that with respect to the execution of transactions for Your account, BB&T Securities may elect to sell securities from, or buy securities for, its inventory for its own account in order to satisfy an order for You. When securities may be traded in more than one marketplace, in the absence of specific instructions from You, BB&T Securities may use its discretion in selecting the market in which to place Your order. The Securities and Exchange Commission and the Financial Industry Regulatory Authority require that all broker/dealers inform their customers when a new account is opened, on an annual basis thereafter, and on transaction confirmation slips, of payment for order flow practices (compensation received by placing orders through “market makers” and specialists on registered United States stock exchanges). In order to provide our customers with the best execution price for their trades, orders placed through BB&T Securities will be ro uted to p r i ma ry exchanges and other market centers, including regional securities exchanges and dealers which make markets over-the-counter. In an effort to obtain the best execution price, BB&T Securities may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on NASDAQ or national best bid or offer for listed securities), whether it will receive cash or non- cash payments for routing order flow and reciprocal business arrangements. BB&T Securities does receive remuneration for directing orders to particular broker/dealers or market centers for execution. When such remuneration is received, it is considered compensation to the firm,

Choice of Exchange and Execution. You understand that BB&T Securities has sole discretion to choose the exchange through which it executes transactions for You. You also understand that with respect to the execution of transactions for Your account, BB&T Securities may elect to sell securities from, or buy securities for, its inventory for its own account in order to satisfy an order for You. When securities may be traded in more than one marketplace, in the absence of specific instructions from You, BB&T Securities may use its discretion in selecting the market in which to place Your order. The Securities and Exchange Commission and the Financial Industry Regulatory Authority require that all broker/dealers inform their customers when a new account is opened, on an annual basis thereafter, and on transaction confirmation slips, of payment for order flow practices (compensation received by placing orders through “market makers” and specialists on registered United States stock exchanges). In order to provide our customers with the best execution price for their trades, orders placed through BB&T Securities will be ro uted routed to p r i ma ry primary exchanges and other market centers, including regional securities exchanges and dealers which make markets over-the-counter. In an effort to obtain the best execution price, BB&T Securities may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on NASDAQ or national best bid or offer for listed securities), whether it will receive cash or non- cash payments for routing order flow and reciprocal business arrangements. BB&T Securities does receive remuneration for directing orders to particular broker/dealers or market centers for execution. When such remuneration is received, it is considered compensation to the firm,